Recently published research from Business Monitor International, "Japan Tourism Report Q4 2013", is now available at Fast Market Research
Boston, MA -- (SBWIRE) -- 10/10/2013 -- BMI's Japan Tourism report examines the increasing trend towards growth in the Japanese tourist market which, despite domestic economic limitations, is showing continued signs of recovery from the inbound travel downturn in the wake of the March 2011 earthquake and ensuing nuclear crisis.
The Great East Japan earthquake, resulting tsunami and nuclear crisis of March 2011 had a devastating short-term impact on the Japanese tourism industry, immediately decreasing inbound and domestic tourist activity, with inbound travel falling by 27.78% to 6.2mn in 2011. Figures were recovering in 2012, when inbound travel reaching approximately 7.3mn and in 2013 we expect inbound travel to reach and surpass the highs of inbound travel seen in 2008, before the international economic crisis.
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Japan continues to work on repairing the infrastructure damage caused by the earthquake and tsunami. Significant progress was made in 2012, however far more work is needed in order to make any kind of substantial dent in the project pipeline. Despite the restrictions on investment in place due to the continuing stagnation of the domestic economy, and the extensive non-travel infrastructure related rebuilding necessitated by the earthquake, the government continues to invest in large-scale expansion and improvement projects that will provide a boost to the tourism market. BMI expects the construction sector to see 3.2% growth in 2013.
Aided by the efforts to rebuild and expand existing transport infrastructure, and boosted by a renewed trust in travel to Japan, we expect inbound arrivals to the country to increase at a very positive rate throughout the forecast period, reaching over 14mn in 2017, almost double the expected 2013 arrivals figure. The global credit crunch will continue to have an impact on long distance travel from the major markets in Europe and the United States however expect this to be offset by the increase in tourism from the Asia Pacific region, where many countries are experiencing strong economic growth. In particular China and South Korea offer fantastic opportunities for growth, dependent however upon the easing of diplomatic tensions between Japan and both countries on the basis of territorial disputes.
Japan is currently bidding to host the 2020 Olympic Games, which would be a major boost both to inbound tourism and the development of the country's transport and tourism infrastructure if successful. The announcement is due in September 2013.
- Many of the global top 10 hotel chains are investing in Japan; the Intercontinental Osaka opened in mid 2013 and several new hotels are under development including the Ritz-Carlton Kyoto, a Mariott Miyako Hotel opening in Osaka in 2014 and the Four Seasons Hotel Kyoto expected to open in 2015.
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