The yen 〞 now at historic lows 〞 is slowing the recovery of oversea travel during the summer break, according to , Japan*s largest travel agency.
The number of travelers going abroad between July 15 and Aug. 31 is expected to go up slightly, a mere 1% increase from last year, and make a recovery to around 65% of prepandemic levels, the survey said.
The JTB survey showed that short trips to neighboring destinations such as South Korea and Taiwan remain popular, but there has also been an increase in the number of travelers taking longer trips to destinations that are farther away this year.
Europe was chosen by 17.5% of respondents, with the Paris Olympics 〞 beginning later this month 〞 seen as playing a role in the increased traffic.
Domestic travel is expected to decrease slightly to 96% of last year*s levels during the same period, as enthusiasm for postpandemic travel winds down and concerns mount over the economy.
Twenty percent of respondents said their income had increased since last year. However, only 14.4% said they have money to spare generally, a decrease from last year, while the percentage of respondents who said they did not have money to spare went up to 48.2%.
More people are looking to save money on trips, but rising prices are not helping. For example, while domestic travelers are spending fewer days on vacation compared to last year, the amount of money spent has remained consistent, showcasing the impact of rising prices.
In contrast, the number of overseas travelers coming into Japan is at an all-time high, thanks partly to the weak yen. Numbers released by the Japan National Tourism Organization last month showed that Japan welcomed more than 3 million visitors for a third straight month in May, about a 60% increase from the same time last year and 200,000 more people than the previous all-time high for May, which was in 2019.
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