In February, Japan saw a surge in tourists, reaching 2.79 million visitors, marking a record for the month and the highest monthly figure since the onset of the COVID-19 pandemic. This increase, fueled by Lunar New Year holiday travel, surpassed January's count of 2.69 million, according to the Japan National Tourism Organization (JNTO).
This February's visitor numbers were 7.1% higher than those in February 2019, a year which also celebrated the Lunar New Year in February. The total number of tourists in 2019 reached an all-time high of 31.9 million before the pandemic's impact.
The tourism sector in Japan was virtually at a standstill for over two years due to the pandemic. However, it has seen a significant revival, partly thanks to the depreciating yen, making Japan an attractive destination for international tourists.
Data from January highlighted a record surge in earnings from tourism, underscoring its expanding contribution to the national economy. Last year, tourist expenditures in Japan exceeded ¥5 trillion (about $33.3 billion) for the first time, surpassing governmental targets.
February saw record-breaking visitor numbers from 19 out of 23 surveyed countries and regions, including South Korea and the United States, as per the JNTO.
Demand for Japan is exceptionally high and it seems expected that the year 2024 might either mirror or exceed the tourist figures of 2019.
Combining this huge demand from tourists with the weak Japanese yen makes now the perfect time to invest in a resort real estate asset!
