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Japan Travel and Tourism Market

The Government of Japan (GOJ) has gradually been removing travel restrictions that have been in place since the start of the Covid pandemic.  And on September 22, 2022, Prime Minister Fumio Kishida announced at a press conference in New York that the GOJ would finally eliminate some of the remaining barriers, namely: waive short-term visa requirements to enter and stay in Japan for 90 days; eliminate the 50,000 cap on the number of daily arrivals; and allow visits by individual tourists.  The changes take effect from October 11, 2022.   With these positive developments in border control and the industry’s movements to motivate Japanese consumers to travel abroad, now is an excellent time for the U.S. travel industry to promote its destinations and services in the Japanese market.

Prior to COVID-19, Japan was the second-largest overseas source of travelers for the United States, annually sending 3.8 million visitors and contributing to $13 billion in spending for the U.S. economy.  In 2019, Japanese outbound travelers reached a record number of 20.1 million.  Within this figure, the U.S. was the most popular destination for Japanese travelers with visitors occupying an 18.7% market share.  However, post-COVID in 2021, the number of Japanese travelers to the U.S. fell to its lowest figure on record of 122,000.   Japan’s strong border controls spurred this decrease with strict regulations, making it increasingly difficult for Japanese travelers to visit foreign destinations, including the U.S.  In particular, two obstacles made it especially difficult for Japanese travelers: 1) the requirement of self-quarantining after returning/entering Japan, and 2) the requirement for incoming travelers to provide proof of negative COVID-19 PCR test results.  For the overall traffic of international travel to rise again, there has been a strong need for these regulations to be removed.

In April 2022, there were positive developments to resume international travel that were set by the GOJ, starting with the elimination of self-quarantine requirements for travelers from the U.S.  In addition, in early September, the GOJ no longer required incoming travelers to provide proof of negative COVID-19 PCR test results, as long as travelers had three doses of vaccines.  Despite these welcome steps, the requirement of visas for incoming foreign visitors, a cap on the number of daily arrivals in Japan and need for tourists to arrive in Japan via pre-registered tour groups, continued to hinder travel.

Nonetheless, the local travel industry, led by the Japan Association of Travel Agents (JATA), has been active in promoting outbound travel.  In the summer of 2022, for example, the Japanese tourism industry, consisting of travel companies, airlines, and tourism offices, launched promotional campaigns in Tokyo and other major Japanese cities to encourage international travel.  JATA also launched an online Twitter campaign and placed large ads encouraging outbound travel in major newspapers, with details of the campaign being featured on numerous television news programs.

As the COVID situation continues to gradually improve, after nearly three years of limited traveling, there is pent-up demand with the Japanese to start traveling again.  Various surveys have inquired consumers on what they want to do post-COVID, and the top answers are always “domestic travel” followed by “overseas travel.”  The U.S. is consistently ranked as one of the top destinations for Japanese travelers post-COVID.

For more information about the Japanese outbound travel market, please contact the Commercial Service Japan at [email protected] or visit the Commercial Service Japan Website: https://www.trade.gov/japan .

Travel & Tourism - Japan

  • It is projected that by 2024, the Travel & Tourism market industry in Japan will generate a revenue of US$40.30bn.
  • This revenue is expected to grow annually at a rate of 0.17%, resulting in a projected market volume of US$40.57bn by 2028.
  • Hotels represent the largest market in this market, with a projected market volume of US$25.11bn in 2024.
  • By 2028, the number of users in the hotels market is expected to reach 45.21m users.
  • In 2024, the user penetration rate in this market is expected to be 74.6%, and it is projected to increase to 77.2% by 2028.
  • The average revenue per user (ARPU) is expected to be US$440.50.
  • In 2028, it is expected that 86% of the total revenue in the Travel & Tourism market in Japan will be generated through online sales.
  • In comparison to other countries, United States is projected to generate the most revenue in the Travel & Tourism market, with US$199bn in 2024.
  • Japan's travel and tourism industry has been impacted by the COVID-19 pandemic, leading to a focus on domestic tourism and promoting unique cultural experiences.

Key regions: Malaysia , Europe , Singapore , Vietnam , United States

Definition:

The Travel & Tourism market encompasses a diverse range of accommodation services catering to the needs and preferences of travelers. This dynamic market includes package holidays, hotel accommodations, private vacation rentals, camping experiences, and cruises.

The market consists of five further markets.

  • The Cruises market covers multi-day vacation trips on a cruise ship. The Cruises market encompasses exclusively passenger ticket revenues.
  • The Vacation Rentals market comprises of private accommodation bookings which includes private holiday homes and houses as well as short-term rental of private rooms or flats.
  • The Hotels market includes stays in hotels and professionally run guest houses.
  • The Package Holidays market comprises of travel deals that normally contain travel and accommodation sold for one price, although optional further provisions can be included such as catering and tourist services.
  • The Camping market includes bookings at camping sites for pitches using tents, campervans, or trailers. These can be associated with big chains or privately managed campsites.

Additional Information:

The main performance indicators of the Travel & Tourism market are revenues, average revenue per user (ARPU), users and user penetration rates. Additionally, online and offline sales channel shares display the distribution of online and offline bookings. The ARPU refers to the average revenue one user generates per year while the revenue represents the total booking volume. Revenues are generated through both online and offline sales channels and include exclusively B2C revenues and users for the above-mentioned markets. Users represent the aggregated number of guests. Each user is only counted once per year. Additional definitions for each market can be found within the respective market pages.

The booking volume includes all booked travels made by users from the selected region, independent of the departure and arrival. The scope includes domestic and outbound travel.

Prominent players in this sector include online travel agencies (OTAs) like Expedia and Opodo, as well as tour operators such as TUI. Specialized platforms like Hotels.com, Booking.com, and Airbnb facilitate the online booking of hotels and private accommodations, contributing significantly to the market's vibrancy.

For further information on the data displayed, refer to the info button right next to each box.

  • Bookings directly via the website of the service provider, travel agencies, online travel agencies (OTAs) or telephone

out-of-scope

  • Business trips
  • Other forms of trips (e.g. excursions, etc.)

Travel & Tourism

  • Vacation Rentals
  • Package Holidays
  • Analyst Opinion

In recent years, the Travel & Tourism market has been under a lot of pressure due to the COVID-19 pandemic. Traveling to other countries became impossible because of lockdowns, restrictions, and health risks, affecting people all over the world. Although the market is recovering from this shock, the pandemic has had a long-lasting impact, with new trends emerging from the crisis. First and foremost, because traveling was not possible for a few years, people were able to save more money, which they now wish to spend on vacations and trips. Since the markets reopened, this phenomenon has become known as “revenge travel.” Furthermore, from a business perspective, a similar growth driver is the slow shift back toward in-person events. Many companies are asking their employees to return to the office, and meetings are being held in person again. Therefore, events may be an additional driver in the coming years. However, a general sentiment for the possibility of flexible working has also spread around the globe. In addition to increasing home-office options for employees, the keyword “workation” has been established as a trend. It describes the combination of working and traveling, whereby flexible workplaces allow their employees to travel and simultaneously work from different countries around the world.

The growing awareness of human impact on the environment has resulted in changes when it comes to tourism, in large part due to the younger generation. Sustainability is playing an increasingly important role for tourists, especially when it comes to the mode of travel. Environmental concerns are also shaping the market and encouraging travel companies to make new and alternative offers for more sustainable travel. In addition, regulations such as the carbon tax could potentially influence the way people travel in general. This is particularly the case when it comes to cruises since they cause high emissions. Consequently, a switch to more environmentally friendly propulsion technologies, such as Liquified Natural Gas (LNG), is being made.

On a global scale, the United States has recovered quickly from the pandemic shock, with especially the Hotels market seeing an increase in bookings. The relaxation of China's travel restrictions will promote an increase in Travel & Tourism, particularly in China but also globally for international travels. Europe’s segments exhibit a good recovery rate, although the geopolitical situation in Eastern Europe is inhibiting outbound travel. The current biggest challenges faced by all markets of the Travel & Tourism market are inflation and increased travel costs, which are caused by the most recent world events.

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Additional notes:

  • Sales Channels
  • Travel Behavior
  • User Demographics
  • Global Comparison
  • Key Market Indicators

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japanese travel market

Japan Travel & Tourism Market Size, Share, and COVID-19 Impact Analysis, By Travel Types (Leisure Travel, Business Travel), By Tourism Type (Wildlife, Spiritual & Religious, Recreational, Heritage, Others), By Travel Days (Within 7 Days, 7-15 Days, and More than 15 Days), By Booking Model (Online, Offline), and Japan Travel & Tourism Market Insights Forecasts to 2032

PathSoft

Japan Travel & Tourism Market Insights Forecasts to 2032

  • The Japan Travel & Tourism Market Size was valued at USD 223.5 billion in 2022.
  • The market is growing at a CAGR of 8.23% from 2022 to 2032.
  • The Japan Travel & Tourism Market Size is expected to reach USD 492.86 billion by 2032.
  • Japan is expected to grow the fastest during the forecast period.

Japan Travel & Tourism Market

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The Japan Travel & Tourism Market Size is expected to reach USD 492.86 billion by 2032, at a CAGR of 8.23% during the forecast period 2022 to 2032.

Market Overview

Japan is an officially recognized country in Eastern Asia. Tourism is a significant business and provider to the Japanese economy in Japan. It is widely recognized for its lively cities, royal palaces, wildlife refuges, and several magnificent temples. Himeji Castle, Historic Monuments of Ancient Kyoto, and Nara are among Japan's 21 World Heritage Sites. Tokyo and Hiroshima are famous foreign tourist attractions, as are Mount Fuji, ski resorts such as Niseko in Hokkaido, Okinawa, riding the Shinkansen, and making use of Japan's hotel and hotspring network.

However, the travel and tourism industry in Japan is still recuperating and has not yet returned to levels prior to the pandemic, but the regular flow of visitors is rapidly increasing. The Japan travel and tourism industry may expand in the next years as demand rises for a variety of reasons. Furthermore, growing urbanization and an increase in financial flexibility are two significant trends driving the expansion of travel and tourism. In addition, an upsurge in the cost-effectiveness of airline travel, improved access to many remote yet beautiful regions, and an increase in disposable money is projected to boost the Japan travel and tourist market.

Report Coverage

This research report categorizes the market for Japan Travel & Tourism Market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Japan Travel & Tourism Market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segments of the Japan Travel & Tourism Market.

Japan Travel & Tourism Market Report Coverage

Driving Factors

Tourism continues to be a vital factor for socioeconomic progress in Japan, with a growing number visits of recreational and heritage places experiencing unique emerging trends in tourism. Boasting its vast bounty of resources, Japan offers a plethora of options all through the four seasons. Tourists gravitate to trail running, river rafting, and sea activities, as well as skiing and snowboarding. For example, Japan has had a lot of success organizing and hosting mega-events, especially spectator events. It hosted the Summer Olympics in 1964 as well as Tokyo 2020 Summer Olympics (however, the event was postponed to 2021, due to Covid-19). In addition, Japan has hosted the Asian Games, the FIFA World Cup, and numerous more tournaments. Participants can explore and appreciate cultural heritage sites or abundant fauna in the surrounding area along with participating in a variety of sports. The increasing expectation of customers to have a positive experience leads to the expansion of the Japan travel and tourism market. As a result, there is an increase in Japan travel and tourism for emerging markets as opposed to traditional domestic or foreign vacation destinations.

Market Segment

  • In 2022, the leisure travel segment is witnessing a higher growth rate over the forecast period. 

Based on the travel types, the Japan Travel & Tourism Market is segmented into leisure travel and business travel. Among these, the leisure travel segment is witnessing a higher growth rate over the forecast period. Most tourists prefer leisure travel with relatives or close companions to break up their humdrum existence. When visiting a location, vacationers are also increasingly interested in experiencing regional customs and dietary habits. Travelers worldwide are seeking more adventure-related experiences than ever before.

  • In 2022, the recreational & heritage segment accounted for the largest revenue share of more than 37.8% over the forecast period.

On the basis of tourism type, the Japan Travel & Tourism Market is segmented into wildlife, spiritual & religious, recreational, heritage, and others. Among these, the recreational & heritage segment is dominating the market with the largest revenue share of 37.8% over the forecast period.

  • In 2022, the online segment accounted for the largest revenue share of more than 34.2% over the forecast period.

On the basis of booking model, the Japan Travel & Tourism Market is segmented into online and offline. Among these, the electronics segment is dominating the market with the largest revenue share of 34.2% over the forecast period. Tourists favor vacations, but for numerous people, planning the trip is an important part of the experience. Before acquiring travel tickets, lodgings, tours, or any other extra amenities or modes of transportation, it is customarily necessary to conduct extensive research and make a selection. However, the growth of the online travel companies has undeniably sped up the process while also providing clients with more options.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the Japan Travel & Tourism Market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

  • JTB Corporation
  • Nippon Travel Agency
  • KNT – Kinki Nippon Tourist
  • Magical Trip
  • JAPANiCAN.com
  • JapanQuest Journeys
  • Japan Gray Line
  • OMAKASE Tour
  • Japan Wonder Travel
  • Arigato Travel

Key Target Audience

  • Market Players
  • Government Authorities 
  • Consulting and Research Firm
  • Venture capitalists
  • Value-Added Resellers (VARs)

Recent Developments

  • On June 2023, Walk Japan has launched seven new tours to commemorate the country's reopening following COVID-19. The excursions offer a variety of intimate experiences of Japan's less-visited regions' countryside, society, culture, and legacy. Michinoku Coastal Trail, Shio-no-Michi: The Salt Road, Self-Guided Tokaido Wayfarer, Onsen Gastronomy: Gifu in Honshu, and Self-Guided Kunisaki Wayfarer, Onsen Gastronomy: Oita & Kumamoto in Kyushu are among the seven new tours.
  • On April 2023, Tablecross Co., Ltd., which operates byFood.com, a prominent food tourism platform for inbound visitors to Japan, announced today that it has raised $2.24 million in Series A funding to grow recruitment, marketing, and system integration development. Shoku no Mirai No.1 Investment Limited Partnership led the investment, with JTB Corporation, Veltra Corporation, and PR TIMES Inc. serving as underwriters. Tablecross has received a total procurement amount of about 4.1 million USD as a result of its investment.

This study forecasts revenue at global, regional, and country levels from 2021 to 2032. Spherical Insights has segmented the Japan Travel & Tourism Market based on the below-mentioned segments:

Japan Travel & Tourism Market Size, By Travel Types

  • Leisure Travel
  • Business Travel

Japan Travel & Tourism Market Insights, By Tourism Type

  • Spiritual & Religious
  • Recreational

Japan Travel & Tourism Market Size, By Travel Days

  • Within 7 Days
  • More than 15 Days

Japan Travel & Tourism Market Forecast, By Booking Model

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JTB Outbound Tourism Report 2022

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  • Japan domestic
  • 返品期限・条件について
  • Current State and outlook
  • Predictions of market environment during the travel demand recovery phase
  • Demand recovery scenarios
  • Trends in the Number of Japanese Traveling Abroad
  • Exchange Rates, GDP and the Number of Japanese Traveling Abroad
  • Number of Passports Issued
  • Overseas Travel Turnover of Major Travel Agencies
  • Number of Overseas Travelers by Gender and Age Group
  • Overseas Travelers and Departure Ratios by Japanese Prefecture
  • Number of Overseas Travelers by Month
  • Number of Overseas Travelers by Air- and Seaport
  • Number of Japanese Passengers Boarding on Overseas Cruises (2019)
  • Number of Japanese Overseas Travelers by Destination
  • Demographics of the Main Survey Respondents
  • Intentions for Future Overseas Travel
  • Preferred Destinations after the Resumption of Overseas Travel
  • Factors Considered When Resuming Overseas Travel
  • Way of Thinking and Sentiment about Future Overseas Travel

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Data Analysis on Japanese Inbound Tourism Trends – Feb2020

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Trends, Growth, and Opportunity Analysis of Outbound Tourism in Japan

A Study on Outbound Tourism in Japan by Business Travel, Leisure Travel, and Education, 2023 to 2033

Diving Deeper into Japan’s Outbound Tourism Business to Explore Leading Consumer Segments and Growth Opportunities through 2033

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Analytical Study of Outbound Tourism in Japan (2023 to 2033)

The outbound tourism landscape in Japan is expected to grow at a CAGR of 27.1% during the projected period. The ecosystem value is projected to increase from US$ 5,271.0 million in 2023 to US$ 57,856.2 million by 2033. The Japan outbound tourism revenue was valued at US$ 3,670.0 million at the end of 2022.

The demand for outbound tourism in Japan is expected to grow steadily during the forecast period. This is due to several factors, including the favorable tropical climate, year-round sunshine, and a wide range of stunning and picturesque locations. As the economy grows in Japan and disposable incomes rise, more citizens have the financial means to travel internationally. This enables them to explore new destinations and engage in leisure and business travel activities.

Japan is becoming more diverse, with a growing population of immigrants and people of different ethnic backgrounds. This has led to a greater interest in exploring heritage and cultural tourism, including trips to ancestral homelands and destinations with cultural significance.

The government in Japan is committed to promoting outbound tourism and is working to address challenges faced by this regional business front. In addition, the growing demand for leisure travel, the shift towards shorter, more frequent trips, and the increasing interest in emerging destinations are all positive trends for sales of outbound tourism in Japan.

The key growth drivers are the rising demand for authentic and personalized travel experiences, driven by rapid urbanization and growing disposable income. The impact of social networks and economical airline tickets cannot be understated.

Travel companies are also launching websites that are fast, accessible, and easy to use on smartphones. These services offer peer reviews, 360-degree video tours, and straightforward price comparisons, making it easier for travelers to plan and book vacations online. This brings profit prospects to the company, along with the growing Internet penetration, and allows them to expand their business.

Key players are partnering with companies to attract high-value customers through Internet marketing, helping to surge demand for adventure travel worldwide. Government organizations in several countries also encourage adventure tourism because it creates employment opportunities and positively impacts community development. As a result, the global appeal of outbound tourism is expected to increase.

Unpredictable climate change, ecological degradation, and linguistic and cultural loss are some conceivable risks of adventure travel. These aspects are projected to limit the growth of the outbound tourism sector in the coming years.

Japanese tourists are becoming more interested in experiencing local culture and cuisine when they travel abroad. This is due to the rise of social media and the increasing availability of information about different cultures. Japanese tourists are also more likely to travel to less popular destinations for a more authentic experience, contributing significantly to the country's economy and tourism revenue.

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Historical Performance of Outbound Tourism in Japan

Japan's overall outbound tourism ecosystem has surged at a CAGR of 34.7% from 2018 to 2022. The increasing inclination of Japanese people to travel outside the country for recreational activities, the introduction of new attractive travel and tour packages, and favorable government initiatives are some of the critical factors driving Japan's outbound tourism sales.

The Abenomics-driven economic recovery in Japan has raised consumer confidence and encouraged growth in leisure and recreational activities. Tourists in Japan were the fourth-highest spending country in the US, behind China, Mexico, and Canada.

The economic crisis in Asia and the bursting of the Internet bubble have caused foreign tourism to slow down temporarily. However, Japanese tourists continue to explore neighboring destinations such as South Korea and Taiwan. Since the early 2020s, there has been a shift towards self-governing travel.

Events such as the Great East Japan Earthquake (2011) and the Fukushima nuclear disaster have adversely impacted foreign tourism. Travel habits have changed, and the focus has been domestic travel for some time. Despite these trials, foreign tourism is still growing strongly. Japan is dependably among the leading countries in international tourism spending.

Tourists are interested in developing destinations such as Vietnam, Thailand, and Indonesia and traditional destinations such as Korea and Taiwan. The rapid growth of travel apps and online booking platforms has made booking and planning trips more reachable for Japanese tourists. This has led to augmented customization and flexibility of travel itineraries.

The aging population in Japan has influenced tourism trends. Older travelers seek more cultural and leisurely experiences, though younger generations frequently seek adventure and exclusive experiences. Tourists are increasingly interested in environmentally friendly and sustainable tourism. Destinations that highlight nature conservation and accountable tourism are becoming increasingly popular.

Latest Trends, Hindrances, and Opportunities Influencing Demand for Outbound Tourism in Japan

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Comparative View of Businesses Adjacent to Outbound Tourism in Japan

Japan's outbound tourism sales are set to be impacted by the peer or tangential businesses in the space. This includes businesses in Japan for sports tourism and the businesses catering to faith-based tourism in Japan . On analysis of these related ecosystems, Future Market Insights (FMI) has found profound insights that can help develop unique differentiating strategies to pursue growth and opportunity.

Japan Outbound Tourism Market:

Japan Sports Tourism Market:

Japan Faith-Based Tourism Market:

Country-wise Insights

The table below explains the total sales of outbound tourism in Japan and CAGRs for 2033. Japan is anticipated to surge to US$ 57,856.2 million by 2033.

In the table below, the CAGR of Japan is given for the review period 2023 to 2033. Japan is expected to remain dominant by exhibiting a CAGR of 27.1% by 2033.

Supportive Government Policies to Surge Sales in Japan

In the forecast period, the demand for outbound tourism in Japan is expected to grow at a 27.1% CAGR. Japan is further projected to reach a value of US$ 57,856.2 million by 2033.

The Government of Japan (GOJ) has steadily removed travel restrictions since the COVID-19 epidemic broke out. At a press conference in New York, Prime Minister Fumio Kishida announced that the GOJ would finally release some remaining barriers, such as the requirement for a short-term visa to enter Japan and remain there for 90 days and the ban on individual visitors. There have also been encouraging developments in border control and the sector's initiatives to encourage Japanese consumers to travel abroad. This has allowed businesses to be able to offer its services across prime locations in Japan.

Social media has emerged as a driving force behind remarkable growth in Japan's outbound tourism space. In sum, social media's pervasive influence has ushered in a new era of change for the market. It has connected travelers to vast possibilities, inspirations, and information, shaping their travel experiences and fostering continued expansion. As a result, social media has positively impacted Japan's outbound tourism ecosystem.

Supportive government policies have played a pivotal role in the significant growth of Japan's outbound tourism landscape. The Japanese government has intentionally designed and implemented programs to encourage its residents to travel the world and, as a result, enhance the country's economy. This is because it recognizes the economic importance of tourism. One of the most prominent actions has been the extension and simplification of visa procedures, including agreements on visa waivers with many nations, making foreign travel more feasible.

Further, the government aggressively promotes travel through businesses like the Japan National Tourism Organization (JNTO), spending money on marketing initiatives and international partnerships to draw domestic and foreign travelers. Owing to the favorable legislative climate that motivates and empowers Japanese tourists to visit the world, the outbound tourism business in Japan continues to prosper.

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Category-wise Insights

Leisure to remain an overwhelmingly common purpose of travel.

Leisure travel is the prominent purpose driving outbound tourism in Japan, with a share of 32.5% in 2022. Japanese tourists often seek leisure travel experiences that combine cultural immersion, natural beauty, and shopping and dining options. They are also becoming more interested in sustainable travel and off-the-beaten-path adventures.

In the following years, the leisure travel segment is likely to continue to dominate the Japan outbound tourism ecosystem. This is due to a variety of causes, including the Japanese economy's continuous expansion, rising disposable income, and Japanese people's increased interest in international travel.

Disposable Financial Resources make the 55+ Age-group Leading Consumers

The age group over 55 is expected to hold the dominating share of 26.5% in 2023. This group often possesses the time, financial resources, and inclination to explore international travel opportunities, making it a lucrative front for the tourism sector. People over 55 frequently exhibit a keen interest in the cultural and historical places they visit, making them passionate explorers of other people's cultures and historical sites. This can be related to the older population's growing preference for vacations abroad to unwind from hectic lives.

The growth of this segment is primarily driven by the gradual surge in the sum of adventure travelers in this age group. Furthermore, travelers in this age group opt for light adventure packages and tours and favor spending on enriching travel experiences. This category is expected to grow shortly as consumers desire light-hearted adventures and are willing to spend money on tourism and travel.

Japan's travel ecosystem recognizes this potential, tailoring packages and services to cater to their specific needs and preferences, ensuring a comfortable and enjoyable travel experience for the over-55 age group. As a result, they are spending large amounts on various tours and travel packages.

Competitive Landscape

Key players present in Japan outbound tourism are One Life Adventures, On the Go tours, Supera Tours, Bamba, Europamundo, Agate Travel, Learning Journeys, INTRO Travel, Trafalgar, Stunning Tours, The Dragon Trip, Intrepid Travel, Expedia, Trip Advisor, Explore, and G Adventures among others. These leading companies are taking key initiatives to expand and strengthen their business position and offer travelers immersive and authentic travel experiences.

The outbound tourism landscape in Japan is fragmented and competitive, with a sizable number of providers competing based on different services and packages. Companies are collaborating and forming partnerships to draw in more clients and give customers access to various options and expertise.

For instance,

  • In December 2022, Intrepid Travel launched new adventure packages in the United States.
  • In August 2021, SpiceRoads Cycling launched a new cycling tour package in Latin America, Colombia to allow tourists to experience Latin America's natural beauty and diversity.
  • In January 2023, Inspiresport entered into a partnership with Cricket Scotland.
  • In September 2022, Gullivers Sports Travel announced a year-long partnership that will see Waratahs alumni organize four sports trips during the Rugby World Cup world in France with Phil Waugh, Darren Coleman, Tony Dempsey, and Ian Kennedy.
  • In 2023, G Adventures, a renowned small-group adventure operator, collaborated with TProfile, a cutting-edge CRM and customer experience application provider.
  • In 2023, Makemytrip, a digital travel company, partnered with Europamundo, a global tourism and travel sector player, to bring their international holiday packages to India online.

Some of the Key Players in Outbound Tourism in Japan

  • One Life Adventures
  • On-the-go tours
  • Supera Tours
  • Europamundo
  • Agate Travel
  • Learning Journeys
  • INTRO Travel
  • Stunning Tours
  • The Dragon Trip
  • Intrepid Travel
  • Trip Advisor
  • Colin Cowie Lifestyle
  • G Adventures

Scope of Report

Segmentation of outbound tourism in japan by category, by demographics:, by purpose:.

  • Business Travel
  • Leisure Travel
  • Education, Employment, and Pilgrimage
  • Visiting Friends and Relatives
  • Individuals
  • Cultural & Heritage Tourism
  • Medical Tourism
  • Eco/Sustainable Tourism
  • Sports Tourism
  • Wellness Tourism

By Age Group:

Frequently asked questions, what is the current japan outbound tourism industry value.

Japan outbound tourism space is expected to reach US$ 5,271.0 million in 2023.

Which type of demographics holds a notable share in Japan's outbound tourism?

In terms of demographic segment, the male segment holds a share of 54.6%.

What is the predicted valuation of outbound tourism in Japan by 2033?

The ecosystem is predicted to total US$ 57,856.2 million by 2033.

At what rate did the Japan outbound tourism grow from 2018 to 2022?

Japan outbound tourism ecosystem grew at 34.7% CAGR from 2018 to 2022.

What is the size of the outbound tourism ecosystem in 2022?

The overall ecosystem was valued at US$ 3,670.0 million 2022.

Table of Content

List of tables, list of charts.

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Domestic travel will recover up to 108.6% year-on-year

International outbound travel and inbound visitors to Japan will increase to 289.7% and 550.6%, respectively, compared to 2022

・The number of domestic travelers is estimated to be 266 million (108.6% y-o-y, 91.2% compared to 2019).

・The number of overseas travelers is estimated to be 8.4 million (289.7% y-o-y, 40.4% compared to 2019).

・The number of international inbound visitors to Japan travelers is estimated to be 21.1 million (550.6% y-o-y, 66.2% compared to 2019).

230126_image_20_en.jpg

 JTB has published the Prospective Travel Trends in 2023 report. For 2023, the report covers, for the first time in three years, estimates for overseas travel and foreign visitors to Japan in addition to those for domestic travel, in response to the COVID-19 infection status and the government's policy including the relaxation of overseas travel restrictions. In 2021 and 2022, when COVID-19 exerted a serious impact, the report covered domestic travel estimates only.

 This survey provides estimates about overnight or multiple night trips (including business travel and family visits) made by Japanese travelers and those made by overseas travelers to Japan, based on various economic trends, consumer behavior surveys, transportation and tourism-related data, and questionnaires conducted by the JTB Group. It has continued since 1981. The projected trends in the travel market in 2023 are shown below.

(Fig. 1) 2023 Annual Travel Trend Estimates

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* Domestic travel expenditure refers to the total cost of travel from departure to return. It includes expenditures incurred at the destination, such as those for shopping and meals, but excludes those incurred before or after the travel (e.g. cost for the purchase of clothing and other belongings). * Overseas travel expenditure includes, in addition to the cost of travel (including fuel surcharge), consumption expenditure made at the destination including those for shopping and meals, but excludes those incurred before or after the travel (e.g. cost for the purchase of clothing and other belongings). * For inbound travel, the report covers only the estimated number of travelers and omits the amount of their expenditure. * The estimated numbers of overseas travelers were obtained by adjusting the estimates as of the end of the previous year based on the actual numbers of individuals who entered or left Japan as announced by the Ministry of Justice. * The year-on-year figures were rounded to the first decimal place. The number of domestic travelers is the number of travelers who stayed at least overnight at the destination. * The numbers of domestic and overseas travelers include those who travel for business or family visit purposes.

<Socioeconomic Trends and Circumstances Surrounding Travel>

  • COVID-19 Status and Travel Trends up to the End of 2022

 Three years have past since March 2020, when the World Health Organization (WHO) declared the outbreak of COVID-19 to be a pandemic. As of January 8, 2023, more than 650 million people have been infected by the virus and more than 6.5 million deaths from the disease have been reported worldwide (announced by the Quarantine Information Office, Ministry of Health, Labour, and Welfare on January 11, 2023). In the early stages of the outbreak, states of emergency were declared around the world, preventing people from living a normal life and actively engaging in economic activities. Later, in 2022, as vaccination rates rose, a growing number of countries decided to change the direction of policy toward the normalization of socioeconomic activities. Many jurisdictions, those in Europe in particular, began to relax their border control measures (e.g. lifting of entry restrictions and shortening of quarantine period) and international airlines resumed their flights. This move also spread across Asian nations, not only Thailand and Singapore but South Korea, Taiwan, and other countries that were cautious about relaxation. While none of them have declared the end of COVID-19, international travel is gradually returning to the pre-pandemic status.

 Looking to the situation within Japan, since the pandemic explosion in March 2020, the government repeatedly declared a state of emergency and released the pre-emergency measures and requested people to restrict their activities. After that, with infection prevention actions being successfully undertaken and vaccination programs becoming more prevalent, the frequency of these declarations and releases reduced in stages. In the summer of 2022, the spread of the Omicron variant caused the seventh and eighth waves of infection and the number of new patients drastically increased. However, no requests for voluntary restraints on various activities, including traveling, were issued by the government on either occasion, having made it normal for people to enjoy travel while taking anti-infection measures.

 On October 11, 2022, the Japanese government eased border control measures imposed on those who enter into the country, including the lifting of upper limit on the number of new visitors per day, relaxation of entry requirements such as negative COVID-19 report and mandatory quarantine period, and the removal of ban on independent tour by foreign visitors to Japan. These moves made it easier for Japanese travelers to travel abroad and foreigners to visit and travel Japan. In October, the government launched the "Domestic Travel Subsidy Program" as a measure to stimulate nationwide tourism demand. As a result, increase of tourists were seen in various places across the country.

  • Economic Environment Surrounding Travel and Household Circumstances

 Looking at the recent economic situation, the yen has rapidly depreciated against the US dollar since 2022, and hit a 32-year low in the foreign exchange market on October 22, 2022, temporarily falling to around 150 yen to the dollar. The currency is still hovering around 130 yen--a depreciation of approximately 20 yen against the dollar compared to the pre-COVID-19 level. This has led to the hikes in prices of energy and imported goods, for example, and such price increases are affecting household budgets. In major items of the consumer price index, an increase is seen in all items other than transportation and communications. In particular, a sharp rise is observed in gasoline and other energy-related prices, as well as in electricity fees (see Figs. 2, 3, and 4).

 As for consumer awareness, consumption related to going out and eating/drinking decreased for some time after the worldwide outbreak of COVID-19, affected by the request for self-restraint of activities. As a result, there were growing expectations for revenge consumption. However, as the economic environment changes, the yen is increasingly depreciating and people's living conditions are worsening. According to the "Household Circumstances" section of the Bank of Japan's "Opinion Survey on the General Public's Views and Behavior," the proportion of respondents who answered that they "have become worse off" had been stable up to September 2021. However, since then, the proportion has been on an increasing trend, and, in December 2022, it increased to 53.0%, up 13.0 points from the same month of the previous year. This is the highest percentage since the initial outbreak of COVID-19 (see Fig. 5).

 On the other hand, according to the short-term economic forecast by the Japan Center for Economic Research (JCER), Japan's real GDP growth rate forecast for 2023 was improved to 0.8% in December 2022 from 0.1% in March 2022. JCER commented that the spread of Omicron shares delayed the recovery expected in 2022 and added it to the growth rate of 2023.

(Fig. 2) Key Foreign Exchange Rates against Yen in 2022

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Source: Tokyo Foreign Exchange Market/T.T. Selling (Obtained from "Foreign Exchange Market Information" offered by Mitsubishi Tokyo Research & Consulting Co., Ltd.)

(Fig. 3) Changes in Major Consumer Price Index Categories

230126_image_03_en.png

Source: Created by JTB Tourism Research & Consulting Co. based on the data from the "Consumer Price Index (2020 Base)" released by the Ministry of Internal Affairs and Communications

(Fig. 4) Changes in Unit Prices of Regular Unleaded Gasoline

230126_image_04_en.png

Source: Created by JTB Tourism Research & Consulting Co. based on the "Petroleum Product Price Survey" published by the Agency for Natural Resources and Energy

(Fig. 5) Changes in Household Circumstances (Level of Being Well-off)

230126_image_05_en.png

Source: Created by JTB Tourism Research & Consulting Co. based on the "Opinion Survey on the General Public's Views and Behavior" published by the Bank of Japan

  • Current State of Travelers

 With regard to domestic travels, if we look at the changes in the total number of overnight guests, which was announced by the Japan Tourism Agency in its "Overnight Travel Statistics Survey," most Japanese travelers restrained themselves from going on a trip whenever a state of emergency was declared or the pre-emergency measures were in place, in order to comply with the central/local government's request. In 2022, the total number of overnight guests have turned to recovery since the pre-emergency measures were lifted in March and no declarations or measures were issued thereafter. Furthermore, the measure to stimulate tourism demand named "Domestic Travel Subsidy Program," which was launched on October 11 (October 20 in Tokyo), achieved a success and led to an increase in the total number of Japanese overnight guests to 105.9% in October and 102.7% in November compared to the same months of the previous year (2019). As a result, the total number exceeded the pre-COVID-19 level, indicating that domestic travel is on the pathway towards a full-fledged recovery (see Figs. 6 and 9).

 With respect to overseas travel, the number of Japanese outbound travelers showed an increasing trend, as a result that part of border control measures for inbound and outbound travelers have been relaxed since around the long holiday season in the spring of 2022 and travel agents gradually resumed the sale of overseas package tours. The relaxation progressed further in October onwards, creating an environment that encourages people to travel abroad. On the other hand, affected by the yen's depreciation combined with the increasingly rapid price appreciation around the world--as well as by the soaring travel costs resulting from the rise in fuel surcharges on air tickets and the unstable geopolitical situation in Ukraine and other parts of the world--the number of overseas tourists is recovering only slowly. According to the preliminary report of the Japan National Tourism Organization (JNTO), the number of outbound travelers in December 2022 was 432,100, a modest increase of 82,500 from October. If compared to the same month in 2019, the year preceding the COVID-19 crisis, it remains at 25.2% (see Figs. 7 and 9).

 In contrast to overseas travel, inbound travel to Japan is so far on a rapid recovery trajectory against the backdrop of the yen's depreciation. The number of international inbound visitors to Japan in October alone was 498,646, more than double the number from the previous month, surpassing the number of Japanese outbound travelers. According to the preliminary report for December, the number of foreign visitors to Japan was 1,370,000, a recovery of 54.2% compared to the same month in the pre-COVID-19 year of 2019. Looking at 2022, the top countries and regions in terms of the annual number of international inbound visitors to Japan are, in descending order, South Korea (1,012,700 visitors, 18.1% compared to 2019), Taiwan (331,100 visitors, 6.8%), and the United States (323,500 visitors, 18.8%). Incidentally, as a result that the Chinese government continued to apply the Zero-COVID-19 policy up until 2022, the number of Chinese visitors remained at 189,000 (see Figs. 8, 9, and 10).

(Fig. 6) Changes in the Total Number of Overnight Guests

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(Fig. 7) Number of Outbound Japanese Travelers in 2022

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* Provisional figures for January through November, estimated figures for December

(Fig. 8) Number of International Inbound Visitors to Japan in 2022

230126_image_08_en.png

* Provisional figures for January through October; estimated figures for November and December Source: Created by JTB Tourism Research & Consulting Co. based on "Number of Inbound and Outbound Travelers" by JNTO

(Fig. 9) Total Number of Overnight Guests, Outbound Japanese Travelers, and International Visitors to Japan from October to December 2022 and Comparisons with 2019

230126_image_09_en.png

Source: Created by JTB Tourism Research & Consulting Co. based on the Tourism Agency's "Overnight Travel Statistics Survey" (second preliminary report for October; first preliminary report for November) and "Number of Inbound and Outbound Travelers" by JNTO (the numbers of outbound Japanese travelers are provisional figures for October and November and estimated figures for December; the numbers of international inbound visitors to Japan are provisional figures for October and estimated figures for November and December)

(Fig. 10) Number of International Inbound Visitors to Japan in 2022 by Country and Comparison with 2019 (Top 7 Countries)

230126_image_10_en.png

Source: Created by JTB Tourism Research & Consulting Co. based on "Number of Inbound and Outbound Travelers" by JNTO (definite values for 2019; estimated values for 2022)

<2023 Travel Market>

  • 2023 Calendar and Major Events

 In the 2023 calendar, there are seven times of three or more consecutive holidays. Compared to last year, when there were nine consecutive holidays consisting of three or more days, we have a less number of consecutive holidays this year, as public holidays fall on Saturday for three times. The long vacation season, the so-called "Golden Week," is a 5-day holiday from May 3rd (Wednesday and public holiday) to 7th (Sunday). If one takes a day off on Monday, May 1st and Tuesday, May 2nd, he/she will have nine consecutive holidays from Saturday, April 29 (public holiday) through Sunday, May 7th. In addition to the above, there are three public holidays that will give one four consecutive holidays if he/she takes a day off on Friday, February 24th, Monday, March 20th, and Friday, November 24th, respectively, and has non-working days on Saturday and Sunday. However, the sequence of public holidays is not very encouraging for workers who want to take long holidays in the summer vacation and the year-end/new-year holiday season.

230126_image_holiday-season_en.png

(1) Holding of Long-awaited Large-scale Events

 This year, notable sporting events will be held at home and abroad. The 5th World Baseball Classic™ (WBC), which was originally scheduled in 2021 but postponed, will be held from March 8th to 21st in the US, Taiwan, and Japan under the title of "2023 World Baseball Classic™." During the period, four games of the B tournament will be held from March 9th to 13th and the quarterfinals will be played on March 15th and 16th, both at the Tokyo Dome. Furthermore, the 19th FINA World Championships 2022 Fukuoka (World Championships 2022) will also be held from July 14th to 30th after about two years' delay from the original schedule of 2021. As for overseas events, the Rugby World Cup 2023™ will be held in France from September 8th to October 28th.

 Another major domestic event is the one that commemorates the 40th anniversary of Tokyo Disney Resort®, scheduled from April 15th, 2023 to March 31st, 2024. In addition, the Jurassic World Exhibition and Tokyo Biennale 2023 are scheduled to be held in Tokyo.

(2) A Series of New Openings of Commercial Facilities and Hotels That Are Hottest Topics among both Domestic and Inbound Tourists

 One of the most-talked-about facilities scheduled to open this year in the Kanto area is Tokyo Midtown Yaesu. The commercial complex will start its operation on March 10th, 2023. Following the Bus Terminal Tokyo Yaesu, which opened in advance in September 2022, "Bulgari Hotel Tokyo," the hotel chain's first establishment in Japan, will open in April. Moreover, entertainment facilities including movie and stage theaters, live event halls, and a hotel are scheduled to open in Tokyu Kabukicho Tower in Shinjuku, Tokyo, based on the concept of creation of "the place to master one's 'likes' in the things you enjoy." Likewise, as part of the "Toranomon-Azabudai Urban Redevelopment Project," "Aman Residences, Tokyo" will open in parallel with "Janu Tokyo," a luxury hotel opening for the first time in Japan under the brand name of Janu, a sister brand of Aman. In the summer, "Warner Bros. Studio Tour Tokyo - Making of Harry Potter" will open at the site of former Toshimaen amusement park grounds. Later in the fall, the "K Arena Yokohama," a facility with a capacity of about 20,000 people, will start its operation in the Minatomirai District, Yokohama. Its prospective tenants include the hotel "Hilton Yokohama."

 In non-Kanto areas, the Hokkaido Nippon-Ham Fighters, a professional baseball team, will move to its new home "ES CON Field Hokkaido" in Kitahiroshima City, Hokkaido, in March.

 In Kansai, a new railway platform will be unveiled on March 18th. Built in the basement of JR Osaka Station (Umekita area), the platform will serve as a stopping point for "Haruka," the limited express bound for Kansai International Airport, as well as "Kuroshio," another limited express bound for Wakayama. On May 30th, "voco Osaka Central" will open for the first time in Japan under the premium hotel brand "voco" offered by IHG Hotels & Resorts. In the summer, the "Shisui Luxury Collection Hotel Nara" will open in Nara City in collaboration with a public-private partnership project aimed at preserving, maintaining, and utilizing areas adjacent to Yoshikien. In the fall, Dusit Thani Kyoto, a member of the Thai luxury hotel brand, is scheduled to open in Kyoto (see Fig. 11).

(Fig. 11) Major Facilities Scheduled to Open in 2023

230126_image_11_en.png

  • Domestic Travel Trends *Domestic travel by Japanese residents, excluding international inbound visitors to Japan

For 2023, the number of domestic travelers is estimated at 266 million (108.6% y-o-y, 91.2% compared to 2019), with the average expenditure of 40,300 yen (101.5% y-o-y, 105.8% compared to 2019), and the total expenditure on domestic travel of 10.72 trillion yen (110.2% y-o-y, 96.4% compared to 2019).

 We estimated the number of domestic travelers in 2023 at 266 million (108.6% y-o-y, 91.2% compared to 2019), the average expenditure at 40,300 yen (101.5% y-o-y) taking into consideration the impact of price increases, and the total expenditure on domestic travel at 10.72 trillion yen (110.2% y-o-y). The average expenditure is at its highest since 2000. Considering that the number of infection cases under the eighth COVID wave is still high, the number of travelers will fall below the pre-pandemic level, as a certain number of people will voluntarily refrain from traveling even if they receive no request for movement restrictions. Nevertheless, we project that the average expenditure will exceed the level prior to the outbreak. Partly due to the tourism demand stimulus package "Domestic Travel Subsidy Program," which was launched on January 10, people have a high willingness to travel so far. While there are expectations that the yen's depreciation and the soaring fuel surcharges will lead to a shift in the area of demand from overseas travel to domestic travel, the price hikes will continue to negatively impact the business sentiment.

 While men and women in their 20s continue to be the most motivated group for domestic travel, seniors are also increasingly travel-conscious. According to the "Survey on Attitude towards Travel and Changes in Lifestyle and Mindset Caused by the Pandemic" published in January 2023 by JTB Tourism Research & Consulting Co., 40.3% of the respondents answered that they were planning or considering to go on a domestic travel in the January to December 2023 period. The most motivated segment was women in their 20s (53.5%), followed by men in their 20s (48.2%), and men over 60 (44.4%). Compared to the previous survey (conducted in July 2022), the percentage of men aged 60 or over increased by 5.7 points to 44.4%, and women aged 60 or over grew by 1.6 points to 34.7%, raising expectations for a recovery in the senior segments (see Fig. 12).

 The Survey also suggests a gradually growing impact on travel and the tourism of the changes in lifestyles and values caused by the pandemic, mainly in the flows of domestic travel, in addition to the above-mentioned events and new openings.

The more people work remotely, the more flexible work and stay styles at family visit and travel destinations become popular

During the pandemic, the remote working style was widely adopted as an infection prevention measure so as to allow people to work outside the workplace and avoid traveling and face-to-face meeting. If people can work remotely on weekdays between holidays, they can work at family visit and travel destinations, allowing them to use their time more effectively and enjoy long-term stay and travel. With the emergence of a travel style called "workcation," which combines work and vacation, the boundaries between "living" and "staying" will become increasingly blurred and more people will be connected to local communities in a manner different from the traditional tourism-based relationships.

Increase in products and services that contribute to carbon neutrality and SDGs

The travel industry has witnessed the emergence of new products and services that contribute to the carbon neutrality and Sustainable Development Goals (SGDs). In the field of transportation, Japan Airlines started giving passengers the option to opt out of an inflight meal service on all international flights from December 2022, in an effort to reduce food waste caused by last-minute meal cancellations. Oriental Air Bridge came up with an innovative idea and launched a tour in which passengers take a pleasure flight over Fukue Island in Goto Archipelago aboard an airplane that uses bio-jet fuel manufactured and sold by Euglena Co., Ltd.

(Fig. 12) Percentage of People Planning/Considering Domestic Travel within the Next 12 Months (Comparison of surveys conducted in March, July, and December 2022) (Single answer)

230126_image_12_en.png

  • Overseas Travel Trends

For 2023, the number of overseas travelers is estimated at 8.4 million (289.7% y-o-y, 40.4% compared to 2019), with the average expenditure of 294,900 yen (101.8% y-o-y, 124.3% compared to 2019), and the total expenditure on overseas travel of 2.48 trillion yen (295.2% y-o-y, 52.0% compared to 2019).

 For 2023, we estimated the number of overseas travelers at 8.4 million (289.7% y-o-y, 40.4% compared to 2019), the average expenditure at 294,900 yen (101.8% y-o-y) affected by the yen's depreciation and soaring fuel surcharge, and the total expenditure on overseas travel at 2.48 trillion yen (295.2% y-o-y). While the average expenditure per traveler will reach its highest level since 2000, the recovery in overseas travel is expected to grow at a slow pace in contrast to inbound tourism. As a result of the relaxation of border control measures in October, immigration procedures have been simplified, but it is still necessary to submit a vaccination proof and a negative COVID-19 test report. One of the reasons for the slow growth would be the non-fulfillment of certain conditions that had been met in the pre-pandemic era, which results from the fact that there still are several countries and regions that continuously apply counter-infection regulations and rules.

 In the aforementioned Survey by JTB Tourism Research & Consulting Co., all respondents--including those who had no plans to travel overseas but excluding those who were not at all inclined to go on an overseas travel--were asked under what circumstances they would like to travel abroad. Top answers to the question were: "If the yen appreciates against other currencies" (27.1%), "If days off can be taken" (22.0%), "If COVID-19 infections subside in the destination country" (21.6%), and "If a reasonable plan and accommodation can be booked" (21.5%). Both men and women in their 20s are the demographic groups that are highly motivated to travel abroad. A large proportion of them showed their willingness to go on an overseas trip during 2023 (see Figs. 13 and 14).

 The Survey also asked the respondents who said that they were planning/considering to go on an overseas travel in 2023 or a subsequent year about the intended destination of their next trip. The top three answers to this question were Hawaii (20.4%), Europe (12.9%), and Taiwan (11.5%). This matches the statistics published by the governments' tourism agencies of each of these countries concerning the numbers of Japanese travelers that visited their countries in November 2022. According to these statistics, the numbers of Japanese travelers who visited South Korea, Thai, Hawaii, or Taiwan were 62,422, 46,020, 27,898, and 21,204, respectively. South Korea is likely to grow further as a desirable destination, considering the fact that its fashion and lifestyles are familiar, particularly to young people, and that the country is located close enough to save the cost and time of travel. In the Survey, 7.7% of respondents said they had not decided (their destination) yet, suggesting that there are a fair number of prospective tourists who are willing to devise ways to make their travel plans a reality by selecting a realizable destination (see Fig. 15).

(Fig. 13) Under what circumstances would you like to travel abroad in the future? (Multiple answers)

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(Fig. 14)Timing of Overseas Travel under Planning/Consideration (By gender and age) (Single answer)

230126_image_14_en.png

(Fig. 15)Destination of Overseas Travel under Planning/Consideration (Single answer)

230126_image_15_en.png

  • Number of International Inbound Visitors to Japan

For 2023, the number of international inbound visitors to Japan is estimated at 21.1 million (550.6% y-o-y, 66.2% compared to 2019).

 After the relaxation of entry restrictions to Japan in October 2022, a rapid recovery is expected in terms of the number of international inbound visitors to Japan particularly from countries that have already eased their exit regulations ahead of others such as South Korea, Thailand, and Singapore. On the other hand, as of January 2023, a full-fledged recovery is unlikely with regard to China, which accounted for the largest percentage of international inbound visitors to Japan in 2019 before the COVID-19 crisis. This prospect is based on the assumption that inbound demand from China will recover at full scale July 2023 onwards, and that the recovery will rapidly escalate following the same pattern as other inbound markets. However, a significant change may take place depending on future developments (see Fig. 16).

 Japan remained as a popular travel destination even during the pandemic. According to a survey released by Development Bank Japan and the Japan Travel Bureau Foundation in February 2022, Japan ranked first by both Asian and Western residents as the country/region where they want to visit as the destination of their next overseas trip. Supporting this trend is the upcoming openings of much-talked-about hotels and commercial facilities, which were referred to in Section 4. Furthermore, there are other locations that are likely to hold new and strong appeal to foreign visitors, including: 1) Shikoku, which was named as the sixth best region in the world to visit by Lonely Planet, the famous travel information magazine, in 2021; 2) "Ghibli Park," which opened in November 2022 in the vacant lot of the 2005 World Expo Aichi Memorial Park in Aichi Prefecture; and 3) Morioka City, Iwate Prefecture, which was listed by the New York Times in January 2023 as one of the "52 Places to Go in 2023" (see Fig. 17).

 The recovery in the number of travelers has also highlighted some challenges. One of them is the lack of human resources to support the tourism industry. According to the Bank of Japan's Employment Conditions (BOJ Tankan survey, quarterly), the accommodation and food service sector has continued to face a labor shortage since the October-December quarter of 2021. On the other hand, as seen in the changes in the total number of overnight guests shown in Fig. 6, the number of tourists resurged and almost reached the pre-COVID-19 level in the most recent quarter of October and November 2022. The occupancy rates of hotels in Tokyo and Osaka as of November 2022 has recovered to 80% of the 2019 level, suggesting the possibility of further labor shortage when a rapid rebound occurs in the inbound tourism demand. Moreover, Tokyo's average daily rate (ADR) has already reached the level before the pandemic, and further increases in ADR may exert an impact on domestic travel demand (see Fig. 18, figures are omitted for ADR).

 *Average daily rate (ADR) refers to the unit sales price per guest room. It is obtained by dividing the revenue from rooms by the number of rooms sold.

(Fig. 16) Number of International Inbound Visitors to Japan

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(Fig. 17) Countries/Regions to Visit as Desirable Destination of Next Overseas Travel (Top 20, by place of residence, Asia or the US and Europe)

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(Fig. 18) Employment Conditions by Industry

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*Figures for Jan.-Mar. 2023 are projections. Source: Created by JTB Tourism Research & Consulting Co. based on "BOJ Tankan (Employment Conditions) (All Sized)" (December 2022) by the Bank of Japan.

◆ Estimates for 2004 to 2022 and Prospect for 2023

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Today's JTB traces its roots back to Japan Tourist Bureau, an agency formed in 1912 for the purpose of servicing the ticketing needs of foreign tourists in Japan. Over a century of history, JTB steadily evolved into a travel and tourism industry leader. Through vision, integrity, innovation, and unsurpassed know-how, the JTB Group consistently creates unparalleled value for its stakeholders.

*The JTB Logo, and all trademarks and service marks are owned by JTB Corp. unless otherwise noted.

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Tsukiji Outer Market 築地場外市場

Tsukiji Outer Market

5-2-1 Tsukiji, Chuo-ku, Tokyo-to

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Explore Japan's most famous marketplace and sample exotic bounty from sea and land

  • Browsing the outer market's alleyways, home to food and kitchen goods sellers alike
  • Taking a guided tour of the market or joining an onsite sushi-making workshop
  • Sampling some of the freshest sushi and seafood around
  • Trying street snacks ranging from omelettes to rice balls

How to Get There

japanese travel market

Still a paradise for sushi, seafood and other restaurants

While the fish market has moved to Toyosu, many sushi, seafood and other restaurants—ramen, beef stew and chicken rice bowl merchants, to name a few—still call the Tsukiji Outer Market area home. Many of these chefs have decades of training and experience. Wander through the side streets and you'll also find vendors selling rolled omelettes, broiled seafood, and jumbo-sized rice balls, among other snacks.

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Shimokitazawa Used Clothing Market

Forego fast fashion for some sustainable used threads

The rise of fast fashion has been a defining trend in the fashion industry over the past few decades, with brands churning out new designs at breakneck speed and encouraging consumers to constantly purchase and discard clothing items. While this model offers affordability and accessibility to trendy clothing, it comes with some significant environmental and ethical implications.

If you're trying to stay fashionable in a more sustainable way, check out the Shimokitazawa Used Clothing Market. The event will be held for several days during March, with a wide variety of unique threads available at reasonable prices.

The dates the event will be held are as follows (from 11am until 6pm each day): March 9th, 10th, 20th, 23rd, 24th, 30th, and 31st.

Getting there

The used clothing market takes place at Shimokitazawa Station's East Exit (Station Square). The station is served by the Odakyu Odawara Line and the Keio Inokashira Line.

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Japan Travel Staff

Shimokitazawa Used Clothing Market

Information

Shimokitazawa Used Clothing Market (下北沢古着マーケット)

March 9th - March 31st 2024

Time: 11:00 - 18:00

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Shimokitazawa Station's East Exit (Station Square)

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Stock market today: Japan’s Nikkei tops 40,000, as investors await China political meeting

A person walks in front of an electronic stock board showing Japan's Nikkei 225 index at a securities firm Monday, March 4, 2024, in Tokyo. Japan's Nikkei 225 share benchmark has topped 40,000 for the first time as strong demand for technology shares keeps pushing the index higher.(AP Photo/Eugene Hoshiko)

A person walks in front of an electronic stock board showing Japan’s Nikkei 225 index at a securities firm Monday, March 4, 2024, in Tokyo. Japan’s Nikkei 225 share benchmark has topped 40,000 for the first time as strong demand for technology shares keeps pushing the index higher.(AP Photo/Eugene Hoshiko)

People walk in front of an electronic stock board showing Japan’s Nikkei 225 index at a securities firm Monday, March 4, 2024, in Tokyo. Japan’s Nikkei 225 share benchmark has topped 40,000 for the first time as strong demand for technology shares keeps pushing the index higher.(AP Photo/Eugene Hoshiko)

A person walks in front of an electronic stock board showing Japan’s Nikkei 225 index at a securities firm Monday, March 4, 2024, in Tokyo. Japan’s Nikkei 225 share benchmark has topped 40,000 for the first time as strong demand for technology shares keeps pushing the index higher. (AP Photo/Eugene Hoshiko)

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HONG KONG (AP) — Asian stocks were mostly higher Monday ahead of China’s top annual political gathering, while Japan’s benchmark surpassed the 40,000 level for the first time.

U.S. futures fell and oil prices were little changed.

Japan’s Nikkei 225 share index advanced 0.5% to 40,150.00, breaching the 40,000 level , after a big rally on Wall Street last week pushed U.S. stocks to new heights.

Shares in Japan have tracked gains in other markets driven by expectations for strong demand for technology associated with artificial intelligence. They have also been boosted by continued easy credit policies with the Bank of Japan pumping money into the economy to help support growth.

Hong Kong’s Hang Seng fell 0.2% to 16,558.00 and the Shanghai Composite index rose 0.2% to 3,033.63.

All eyes will be on the National People’s Congress annual meeting in China that starts Tuesday, during which Beijing might announce steps to bolster an economy that is sagging under the weight of expanded government controls and the bursting of a real-estate bubble.

The Kospi in Seoul surged 1.2% to 2,672.94 after a private-sector survey showed manufacturing activity expanding at a slower pace in February compared to previous months as overseas demand weakened.

FILE - Kimono-clad "geiko" and "maiko" professional entertainers arrive for a ceremony to start this year's business in Kyoto, western Japan, on Jan. 7, 2020. Japan’s ancient capital of Kyoto, long a popular destination for tourists, will be closing off some private-property alleys in its famous geisha district, as complaints grow about misbehaving visitors. (Kyodo News via AP, File)

Australia’s S&P/ASX 200 was down 0.1% at 7,598.00, and in Bangkok the SET edged 0.1% lower.

On Wall Street on Friday, the S&P 500 rose 0.8% to 5,137.08 a day after setting an all-time high. It’s been on a tremendous run and has climbed in 16 of the last 18 weeks because of excitement about cooling inflation and a mostly resilient U.S. economy.

The Dow Jones Industrial Average gained 0.2% to 39,087.38. Technology stocks led the market, and the Nasdaq composite jumped 1.1% to 16,274.94, a day after surpassing its prior record set in 2021.

Dell Technologies helped drive the stock market after jumping 31.6%. It reported stronger profit and revenue for the latest quarter than analysts expected, highlighting demand for its AI-optimized servers.

A seemingly neverending crescendo of demand for artificial-intelligence technology has helped catapult stocks higher over the last year. Dell has more than tripled in the last 12 months, while Nvidia has surged more than 260%.

The mood was much more dour in the banking industry, where New York Community Bancorp tumbled 25.9%. It warned investors last week that it found weakness in how it internally reviews loans, caused by ineffective oversight, risk assessment and monitoring activities.

Much attention has been on smaller regional banks after last year’s crisis in the industry led to the collapses of several. One of them, Signature Bank, was swallowed up by NYCB, which has caused the resulting bank to face stricter oversight amid struggles for loans tied to real estate.

While NYCB faces many issues that are specific to it, the worry has been that banks across the industry face challenges from loans made for real estate projects.

They are under pressure in part because the Federal Reserve has hiked its main interest rate to the highest level since 2001. High interest rates can squeeze the financial system. The hope has been that the Fed will cut interest rates several times this year to offer some relief for banks and the broader economy.

The Fed has indicated it may do so if inflation continues to cool decisively toward its 2% target. But a string of stronger-than-expected reports on the economy have made traders push back forecasts for when the cuts could begin. The hope now is that the Fed could start in June after traders shelved earlier expectations for March.

In the bond market, the yield on the 10-year Treasury fell to 4.20% from 4.25% late Thursday.

In other trading, U.S. benchmark crude oil lost 2 cents to $79.95 per barrel in electronic trading on the New York Mercantile Exchange. Brent crude, the international standard, gained 11 cents to $83.66 per barrel.

The U.S. dollar rose to 150.16 Japanese yen from 150.11 yen. The euro was up to $1.0845 from $1.0837.

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United Airlines flight bound for Japan loses tire after takeoff in San Francisco, damages several cars

The flight, ua 35, was originally bound for osaka, japan, before losing a tire during takeoff.

The flight, UA 35, bound for Osaka, Japan, lost a tire during takeoff at San Francisco International Airport on Thursday. The landing gear tire fell to the ground, damaging several parked vehicles at the airport. (Credit: CALI PLANES/ YouTube)

WATCH: United Airlines flight bound for Japan loses tire on takeoff

The flight, UA 35, bound for Osaka, Japan, lost a tire during takeoff at San Francisco International Airport on Thursday. The landing gear tire fell to the ground, damaging several parked vehicles at the airport. (Credit: CALI PLANES/ YouTube)

A United Airlines flight that took off from San Francisco International Airport (SFO) was diverted to Los Angeles after losing a tire during takeoff Thursday that proceeded to damage several parked vehicles parked at the airport.

"United flight 35 lost one tire after takeoff from San Francisco. The flight will land at LAX. Once the flight lands in Los Angeles, we will arrange a new aircraft to continue this trip for our customers," a United Airlines spokesperson told Fox News Digital.

The flight has since landed safely at Los Angeles International Airport (LAX).

The spokesperson said the Boeing 777-200 aircraft was carrying 249 people on board, including 235 customers, 10 flight attendants, and four pilots. 

ATLAS AIR BOEING CARGO PLANE SUFFERS 'ENGINE MALFUNCTION,' FORCED TO MAKE EMERGENCY LANDING IN MIAMI

Police cars in parking lot, yellow tape and officers around tape

A tire fell off of a United Airlines plane moments after it took off from San Francisco International Airport on Thursday. (FOX 2 / Fox News)

"The 777-200 has six tires on each of its two main landing gear struts. The aircraft is designed to land safely with missing or damaged tires," the spokesperson said.

According to airport officials, the plane took off from SFO at 11:35 a.m. local time, and was diverted to Los Angeles about 25 minutes later.

The tire landed in an SFO employee parking lot and there were no injuries, SFO airport officials confirmed to Fox News Digital. However, multiple parked vehicles suffered damage as a result of the tire falling off the plane.

"United Flight 35 departing to Osaka lost a portion of landing gear tire during takeoff. The tire debris landed in an on-airport employee parking lot, causing damage to several vehicles," airport officials said. 

The runway was briefly closed to clear debris, but has since reopened with no further impact on airport operations, officials said. 

It was the second malfunction in a week involving United Airlines, as a plane traveling from Honolulu to San Francisco encountered an engine failure over the Pacific Ocean.

UNITED AIRLINES FLIGHT MAKES EMERGENCY LANDING, ENGINE FIRE PUT OUT: ‘I DON’T WANT TO GO OUT THAT WAY'

Police cars in parking lot, yellow tape and officers around tape

United Flight 35 was redirected to Los Angeles International Airport and landed safely after losing a tire shortly after takeoff from San Francisco International Airport. (FOX 2 / Fox News)

The crew on the Boeing 757-300 declared an emergency on Monday while the flight was approximately 270 miles from its destination, reporting a shutdown of the right-hand engine. 

United said despite the delay, the aircraft managed to land safely at San Francisco International Airport nearly an hour after the incident.

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Police cars in parking lot, yellow tape and officers around tape

The tire could be seen in a parking lot near San Francisco International Airport. (FOX 2 / Fox News)

"On Monday afternoon, United flight 214 experienced an engine issue shortly before its arrival at San Francisco International Airport," a United Airlines spokesperson said. "The flight landed safely and passengers deplaned normally."

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Japan's Long Comeback

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Stocks around the world hit new all-time highs last week, but one stood out.

  • The U.S. S&P 500 Index eclipsed the high set just the week before.
  • Europe's STOXX 600 Index climbed above its prior high set a little over two years ago in January 2022.
  • Japan's Nikkei 225 Index hit a new all-time high set 34 years ago.

We have been eagerly anticipating this move by Japan's stocks market, highlighted last June in Japan: Reclaiming Lost Decades . Today, the Nikkei 225 Index continues to outperform the S&P 500. Even though Japan's stock market is the second largest in the world, it often doesn't get much attention; the Nikkei 225 Index peaked in 1989 and had not hit a new all-time high until now. Japan's stocks are up 17% this year (the slide in the yen relative to the dollar this year reduced that gain to 10% when measured in US dollars), making it the best-performing market in the world in 2024 in either currency.

Japan's stock market climbs above prior high set in December 1989

Line chart showing performance of the S&P 500 and the Nikkei 225 from 1950 to present.

Source: Charles Schwab, Macrobond data as of 2/23/2024.

Data indexed to 100 at the start of 1950. An index number is a figure reflecting price or quantity compared with a base value, which is assigned the index number of 100. The index number is expressed as 100 times the price or quantity ratio to its base value. Indexes are unmanaged, do not incur management fees, costs, and expenses, and cannot be invested indirectly. Past performance is no guarantee of future results.  

Japanese stocks have been outperforming the S&P 500 since the global bear market ended in October 2022. The Nikkei 225 posted a gain of 39.9% during the current bull market compared with 31.4% for the S&P 500, both measured in U.S. dollars from the end of October 2022 through the end of last week (February 23, 2024), as you can see in the chart below.

Japan's stocks have outperformed since the current bull market began

Line chart showing performance of the Nikkei 225 and S&P 500 from 10/31/2022 to present.

Source: Charles Schwab, Macrobond data as of 2/26/2024.

Data indexed to 100 at the start of 10/31/2022. An index number is a figure reflecting price or quantity compared with a base value, which is assigned the index number of 100. The index number is expressed as 100 times the price or quantity ratio to its base value.  Indexes are unmanaged, do not incur management fees, costs and expenses and cannot be invested in directly. Past performance is no guarantee of future results.

The outperformance by Japan's stock market may be surprising to some investors. Unlike the S&P 500, Japan's stock market doesn't have a handful of highly valued stocks pushing it to new highs. In fact, the forward price-to-earnings (PE) ratio for Japan's stock market is 15.1, in line with the 20-year average for the MSCI Japan Index.  In comparison, the S&P 500 forward price-to-earnings ratio is 20.5, 32% above its 20-year average of 15.6.

Japan's stock market valuation in line with 20-year average

Line chart shows the PE (price-to-earnings) ratio for the S&P 500 and the MSCI Japan Index from 2/2004 through 2/2024 with dashed lines marking the 20-year average of each series.

Source: Charles Schwab, FactSet data as of 2/24/2024.

Past performance is no guarantee of future results.

While some investors may be put off by Japan's sluggish economic growth in recent decades, it's important to remember that many Japanese companies like Sony and Toyota get 70%-80% of their sales outside of Japan according to their earnings reports, demonstrating how they are tied to global consumers more so than to domestic ones. That exposure has helped to propel earnings growth even as domestic economic growth has been weak. The return to the 1989 bubble peak for Japan's stock market is supported by much higher earnings per share than would be presumed by Japan's economic growth. Corporate profits for Japanese companies are now about three times what they were the last time stocks were at these levels. Earnings per share for Japanese companies in the MSCI Japan Index grew +8.3% in 2023, measured in U.S. dollars. This growth came despite Japan's economy slipping into a recession with back-to-back quarters of negative GDP growth in the third and fourth quarters of last year.

Japan's corporate profits have grown since stocks last peaked

Bar chart showing corporate profits in Japan from 1955 through present, with shaded areas noting Japan recession periods.

Source: Charles Schwab, Macrobond, Japan Ministry of Finance as of 2/24/2024.

Japan's earnings outlook may benefit from the global manufacturing recovery getting underway in 2024, as global demand for goods revives. The global manufacturing PMI climbed to 50.0 in January, reaching the threshold between expansion and contraction for the manufacturing sector. The preliminary February Purchasing Managers' Index (PMI) readings for the U.S., Germany, France, Japan, U.K., and other major countries were released last week. The February readings were mixed; some improved a little, some weakened slightly. The final global reading for February may come in around 50.0 again, helping confirm an end to the longest downturn in manufacturing since the data began 30 years ago (16 months). A related timely indicator of global manufacturing that we watch closely is signaling a similar trend. Demand for the cardboard boxes that manufactured goods tend go into is also reviving (measured by demand for corrugated fiberboard that most cardboard boxes are made out of). All this signals a recovery from what we termed the "cardboard box" recession of 2023 as we anticipated in our 2024 Outlook and may lift manufacturing-driven economies like Japan out of recession and support continued earnings growth.

"Cardboard Box" recovery

Line chart shows corrugated box shipment year over year percentage change of volume and the Global Manufacturing PMI from 1998 through current.

Source: Charles Schwab, Fibre Box Association, S&P Global, Bloomberg data as of 2/23/2024.

Support for Japan's stock market may come from the new savings program intended to encourage Japanese investors to move money from cash into stocks. This year's new NISA, or the Nippon Individual Savings Account, is a Japanese government tax-free stock investment program for individuals intended to promote households' investment in stocks. According to the Bank of Japan, only 13% of Japan's liquid household assets are in stocks versus over 40% in the U.S. and 21% in Europe, contrasting with cash deposits making up 52.5% of households' financial assets in Japan, 12.5% in the U.S. and 35.5% in the eurozone.

Potential re-allocation: household allocation to stocks and cash

Bar chart illustrating the household allocation of funds to stocks vs. cash for the U.S., Europe, and Japan.

Source: Charles Schwab, Bank of Japan data as of December 23, 2023.

Additional support for Japan's assets may come from the end of an era at the Bank of Japan (BOJ). For over a decade, the BOJ's policy of zero or negative interest rates has enabled Japan to be an important source of investment funding, with negative interest rates allowing investors to borrow cheaply in yen and then purchase investments in other countries offering a higher return. The BOJ is widely expected by the market and economists to hike rates by this June. Any rate hikes this year hold the potential to prompt Japanese investors to sell foreign assets and bring them home, incentivized by higher interest rates and the best performing stock market in the world so far in 2024.

Further gains by the second largest stock market in the world can help boost the performance of international stocks. Stocks headquartered in Japan make up 23% of the MSCI EAFE Index, the largest share of any country in the index. We believe Japan could continue to surprise many investors with strong performance driven by a confluence of positive factors. Yet, there are risks.

  • Japan's aging population. Japan's aging population had tended to restrain domestic growth and inflation, although Japan has some unique advantages in combating this drag relative to other countries. First, unlike many developed economies where the domestic population is the largest customer base, more than half of the sales of Japanese companies are outside of Japan mitigating this risk. Second, the potential wave of capital spending could boost output per worker in Japan, whose productivity is among the lowest of the G7. Third, the costs of an aging population are much less of a drag for Japan than the United States. Japan is aging more quickly than the U.S., but health care costs per capita for Japan ($4,378 during pre-pandemic 2019 according to the World Bank) are a fraction of those in the U.S. ($12,914 during pre-pandemic 2019), per the U.S. Centers for Medicare & Medicaid Services.
  • Japanese stocks have seen a powerful rally already. Strong net money inflows and double-digit gains so far this year have pushed Japan's stocks to an all-time high.
  • Ultimately, Japan's debt growth may be unsustainable. As of December 2023, Japan's government debt is 255% of GDP, double that of the U.S. (123%), and the highest of any developed nation according to the International Monetary Fund (IMF). To help finance this debt, the Bank of Japan has bought half (54%) of all Japanese government bonds, known as JGBs—double the share of U.S. government debt owned by the U.S. Federal Reserve (20%). This large growth in debt financed with low interest rates has weighed on the value of Japan's currency. The yen has fallen over 30% against the dollar since the end of 2020, when the bank's self-imposed ceiling on purchasing JGBs was lifted in response to the pandemic. This effect on its currency may eventually act as a market-imposed debt limit for Japan. However, since Japan has a high savings rate and can finance its debt without relying on foreign investment, it is not clear how high the domestically financed government debt can grow without adverse effect.

Japan's stock market may continue to surprise investors as it sets new all-time highs. However, the uniqueness of Japan's economy and businesses also pose risks.

Get Schwab's view on international markets. 

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The information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision. All expressions of opinion are subject to change without notice in reaction to shifting market conditions. Data contained herein from third-party providers is obtained from what are considered reliable sources. However, its accuracy, completeness, or reliability cannot be guaranteed. Examples provided are for illustrative purposes only and not intended to be reflective of results you can expect to achieve.

Please note that this content was created as of the specific date indicated and reflects the author’s views as of that date. It will be kept solely for historical purposes, and the author’s opinions may change, without notice, in reaction to shifting economic, business, and other conditions.

All corporate names and market data shown above are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security. Supporting documentation for any claims or statistical information is available upon request.

Past performance is no guarantee of future results and the opinions presented cannot be viewed as an indicator of future performance.

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Size of the Japan travel market and 2020 outlook

Despite challenging macroeconomic conditions, rising tensions between China and the U.S., and a trade war with South Korea, Japan's travel market grew by 3.6% in 2019 according to Phocuswright‘s latest travel research report Japan Travel Market Update 2020 (see figure below). With gross bookings of $104.4 billion in 2019, Japan has the second-largest travel market in the Asia Pacific (APAC) region, trailing only China.

The increase in travel activity associated with the planned Summer Olympics in July-August 2020 would have given a significant boost to all travel segments. Though short of the initial target of 40 million visitors, the government had predicted that 34 million foreign tourists would visit Japan in the year of the Olympics. With the games now postponed to 2021 and the virus outbreak having crushed even normal travel activities, Japan's travel market is projected to decline by 54.2% in 2020, totaling $47.8 billion.

 nws-chart-1

Once the leader in regional online penetration, Japan now has the lowest online share of travel gross bookings among all major travel markets in APAC, including Australia/New Zealand, China and India. In 2020, online penetration is predicted to grow incrementally in Japan but will remain well below the 50% mark, primarily due to the Japanese preference for booking rail offline through kiosks. While online bookings in Japan are gaining traction, offline channels, including traditional retail agencies, remain vital. In 2020, 55% of travel bookings will be made offline.

Suppliers will continue to command a greater share of the online market due to the presence of strong brands in the air and rail segments. OTAs have a considerable lead in online hotel distribution, and have benefited greatly from the surge in inbound tourism. Due to their unique strengths, suppliers and OTAs maintained their online market shares, at 59% and 41% respectively, for five years, through 2019. However, as more travelers lean towards booking direct amidst the ongoing COVID-19 crisis, suppliers will gain in the short term, taking their share of the online market to 61% in 2020.

The full report presents a high-level overview of the Japan travel market in 2020, including the impact of the pandemic on major players, key segment analysis, and sizing and projections through 2020. Download it here .

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IMAGES

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COMMENTS

  1. Japan's tourism industry

    Market value of the travel agency industry in Japan 2015-2022 Unit price of domestic tours organized by travel agencies 32.97k JPY

  2. Japan Travel and Tourism Market

    In 2019, Japanese outbound travelers reached a record number of 20.1 million. Within this figure, the U.S. was the most popular destination for Japanese travelers with visitors occupying an 18.7% market share. However, post-COVID in 2021, the number of Japanese travelers to the U.S. fell to its lowest figure on record of 122,000.

  3. Travel & Tourism

    The Travel & Tourism market in in Japan is projected to grow by 0.17% (2024-2028) resulting in a market volume of US$40.57bn in 2028.

  4. Tourism Statistics

    FEATURED. Inbound According to Japan National Tourism Organization (JNTO),, the estimated number of international travelers to Japan in December 2023 was 2,734,000, (+8.2% compared to 2019), exceeding the same month in 2019 (before the COVID-19 pandemic).The 2023 total exceeds 25 million, recovering to about 80% of the 2019 level on an annual cumulative basis.

  5. Japan Travel Market Report 2020-2024

    The Japan travel market faces significant challenges, following a year of pandemic-related lockdowns and restrictions. While the nation was originally lauded for its handling of the outbreak, subsequent waves and a slow vaccine rollout have squashed the industry in the short term. International travel has been all but stopped, with nominal border crossings permitted. Instead, the Japan market ...

  6. Japan-bound Statistics

    According to JNTO, the estimated number of international travelers to Japan in December 2023 was 2,734,000, (+8.2% compared to 2019), exceeding the same month in 2019 (before the COVID-19 pandemic).The 2023 total exceeds 25 million, recovering to about 80% of the 2019 level on an annual cumulative basis. December 2023.

  7. Japan Travel & Tourism Market Size

    The Japan Travel & Tourism Market Size was valued at USD 223.5 billion in 2022. The market is growing at a CAGR of 8.23% from 2022 to 2032. The Japan Travel & Tourism Market Size is expected to reach USD 492.86 billion by 2032. Japan is expected to grow the fastest during the forecast period. The Japan Travel & Tourism Market Size is expected ...

  8. Impact of COVID-19 on the Japanese travel market and the travel market

    The global travel market has been severely hit by the spread of COVID-19. This paper analyzes the impact of COVID-19 on the Japanese travel market and the travel market of overseas visitors to Japan, as well as the Japanese government's support for the travel industry, and discusses the direction of recovery in travel demand. 1.

  9. Travel in Japan

    The Travel in Japan report includes: Analysis of key supply-side and demand trends. Detailed segmentation of international and local products. Historic volume and value sizes, company and brand market shares. Five year forecasts of market trends and market growth. Robust and transparent research methodology, conducted in-country.

  10. JTB Outbound Tourism Report 2022

    Data Analysis on Japanese Inbound Tourism Trends - Jul2019 Price: Free Download. Data Analysis on Japanese Inbound Tourism Trends - Feb2019 Price: Free Download. International Green Tourism Price: Free Download. Research Reports and White Papers NEW JTB Outbound Tourism Report 2022 All About Japanese Overseas Travelers Published September ...

  11. Japan Tourism Market Size, Share, Trend & Forecast by 2033

    Japan Tourism market is expected to reach US$ 208,926 Mn in 2023, growing at a CAGR of 7.6% during the forecast period of 2023 to 2033 | Future Market Insights. MENU ... JTB is the largest travel agency in Japan and has contributed to the Japanese travel industry for 110 years. It has made the globe aware of the attractiveness of Japanese tourism.

  12. Japan Outbound Tourism Market Size, Share & Forecast

    The outbound tourism landscape in Japan is expected to grow at a CAGR of 27.1% during the projected period. The ecosystem value is projected to increase from US$ 5,271.0 million in 2023 to US$ 57,856.2 million by 2033. The Japan outbound tourism revenue was valued at US$ 3,670.0 million at the end of 2022. The demand for outbound tourism in ...

  13. Japan Tourism Is Back: What You Need To Know About Visiting In ...

    Japan's tourism comeback is one of the travel industry's most unexpected stories of 2023. It's remarkable, considering the length of the shutdown and Japan's distance from some of its target ...

  14. Prospective Travel Trends in 2023

    The projected trends in the travel market in 2023 are shown below. ... These moves made it easier for Japanese travelers to travel abroad and foreigners to visit and travel Japan. In October, the government launched the "Domestic Travel Subsidy Program" as a measure to stimulate nationwide tourism demand. As a result, increase of tourists were ...

  15. Japan Travel Market Report 2021-2025

    Japan's travel industry thrived before the pandemic, serving as a key stronghold for the Japanese economy. But COVID-19 abruptly halted the structural growth of the Japanese travel market. After plummeting 53% in 2020, the country's travel sector shrank further in 2021, with another 10% year-over-year decline. Installing some of the strictest border controls globally, international leisure ...

  16. Japan comes to the World Travel Market 2020 Virtual Edition

    Exhibitors on the Japan stand this year include the following 12: Transport Companies ANA - All Nippon Airways West Japan Railway Company DMCs HANKYU TRAVEL DMC JAPAN Nippon Travel Agency Co., Ltd. Regional Tourism Organisations Biwako Visitors Bureau IyaValley and Kagawa Setouchi Koyasan & Kumano Kodo, Wakayama Nara Prefecture

  17. Japan Travel Market Report 2022-2026: Phocuswright

    Japan's travel market is firmly on the path to recovery, with gross bookings surging by 54% to US$63.1 billion in 2022. Domestic demand thrived, and inbound visitors started flocking to the country as its borders fully reopened in October 2022. However, the Japanese yen has experienced significant depreciation when compared to the U.S. dollar.

  18. PDF Understanding the Japan Travel Market

    The Japanese leisure and business travel audiences are, however, very distinct. The largest block of Japanese travelers (29%, 25.5 million people) are ages 35 to 49. While these travelers, as well as the travelers in the adjacent two demographic age groups, certainly form the bulk of the Japanese online travel market, smart travel marketers will

  19. Nishiki Market

    Kyoto's Kitchen—thriving for 400 years. Nishiki Market today is very different from its origins as an open-air fish market some 400 years ago. Nishiki Market has an astonishing 130 vendors packed into a narrow passageway that is approximately 400 meters long and 3.9 meters wide. It continues to thrive, attracting not only visitors, but Kyoto ...

  20. Tourism EXPO Japan 2024

    Jointly organised by the Japan Travel and Tourism Association, the Japan Association of Travel Agents (JATA) and the Japan National Tourism Organization (JNTO), Tourism EXPO Japan is a four-day B2B and B2C travel exhibition exclusively focused on the Japanese travel market. Last year the event brought together more than 150,000 visitors, offering a fusion of opportunities, ranging from ...

  21. 'Kyoto is not a theme park': Tourists told to stay away from ancient

    In 2019, incoming travel totalled more than 31 million people - and experts say this year's number could approach or even overtake that. It's become too much for many residents of Gion, though.

  22. Tsukiji Outer Market

    Explore Japan's most famous marketplace and sample exotic bounty from sea and land. Tsukiji is the former site of one of the world's greatest fish markets which, at its prime, handled over 2,000 tons of fresh seafood a day. While the inner market's wholesale functions and tuna auctions relocated to Toyosu Market in October 2018, the Tsukiji ...

  23. Japan household spending logs biggest drop in 35 months in January

    That was worse than the median market forecast for a 4.3% decline and marked the biggest drop since February 2021. On a seasonally adjusted, month-on-month basis, spending fell 2.1%, versus an ...

  24. Japan Travel Market 2020-2024: By the Numbers

    Japan's travel market declined 54% in 2020, and it will be several years before there is a full recovery to pre-pandemic levels. This report provides current data, charts and analysis on the Japan travel market, with sizing and projections from 2020-2024. This report is available for purchase as a package with: Japan Travel Market Report 2020 ...

  25. Shimokitazawa Used Clothing Market

    If you're trying to stay fashionable in a sustainable way, check out the Shimokitazawa Used Clothing Market. The event will be held for several days during March, with a wide variety of unique threads available at reasonable prices. ... Japan Travel is the leading resource for Japan travel information and the primary destination for visitors ...

  26. Two key developments in Japan's travel market

    Japan Travel Market Report 2020-2024 provides an overview of the Japan travel market, including key developments, market characteristics, distribution trends and major players in each segment. For more detailed data and analysis, see the following related publication: Japan Travel Market 2020-2024: By the Numbers

  27. Stock market today: Japan's Nikkei tops 40,000, as investors await

    Stock market today: Japan's Nikkei tops 40,000, as investors await China political meeting. Australia's S&P/ASX 200 was down 0.1% at 7,598.00, and in Bangkok the SET edged 0.1% lower. On Wall Street on Friday, the S&P 500 rose 0.8% to 5,137.08 a day after setting an all-time high. It's been on a tremendous run and has climbed in 16 of the ...

  28. United Airlines flight bound for Japan loses tire after takeoff in San

    A piece of tire from a United Airlines plane's landing gear fell off a Japan-bound flight shortly after takeoff from San Francisco International Airport, and had to be diverted to LAX on Thursday.

  29. Japan's Long Comeback

    Japanese stocks have been outperforming the S&P 500 since the global bear market ended in October 2022. The Nikkei 225 posted a gain of 39.9% during the current bull market compared with 31.4% for the S&P 500, both measured in U.S. dollars from the end of October 2022 through the end of last week (February 23, 2024), as you can see in the chart below.

  30. Size of the Japan travel market and 2020 outlook

    With the games now postponed to 2021 and the virus outbreak having crushed even normal travel activities, Japan's travel market is projected to decline by 54.2% in 2020, totaling $47.8 billion. Once the leader in regional online penetration, Japan now has the lowest online share of travel gross bookings among all major travel markets in APAC ...