Wealthy Foreign Tourists Spent ¥1 Trillion in Japan in 2023, Likely Attracted by Weak Yen
Yomiuri Shimbun file photo
The foot of Kiyomizudera temple is crowded with tourists in Higashiyama Ward, Kyoto, in August 2023
Wealthy visitors from abroad spent ¥1.01 trillion in Japan in 2023, up 50.6% from the pre-pandemic year of 2019, according to an estimate of the Japan National Tourism Organization (JNTO).
The JNTO on Wednesday released the results of a survey of foreign visitors who spent at least ¥1 million in Japan. The number of such spenders hit 590,000 in 2023, up 83.2% from 2019.
The survey was based on payment data provided anonymously by Mastercard. The JNTO labeled trips in which travelers spent at least ¥1 million per person as 'high-value-added travel' and calculated the trends in consumption for such trips.
Travelers arriving from China accounted for the largest share of total spending at 23.0%. However, that was down from 30.6% in 2019. Meanwhile, the United States increased its share from 11.1% to 16.3%, and Taiwan rose from 4.7% to 13.1%.
'Shopping sprees at department stores and electronic stores have settled down, while spending on experiences, such as those where travelers can enjoy and learn about traditional arts and culture in regional areas, is increasing,' said a JNTO spokesperson.
The JNTO also estimated the global market size for affluent travelers. It found there were 11.57 million wealthy travelers who went abroad in 2023, up 32.5% from 2019, and that their spending rose by 17.6% to ¥20.95 trillion. These growth rates were much lower than those for visitors to Japan, suggesting that the weaker yen made Japan a more attractive travel destination and boosted yen-denominated spending.
The Japanese government is aiming to get foreign visitor numbers up to 60 million and bump their spending up to ¥15 trillion by 2030. To this end, it is stepping up efforts to attract more wealthy visitors.
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