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Inflation, hotel prices curtail Japanese 'Golden Week' travels

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Japan's annual "Golden Week" holiday period gets into full swing Saturday, but inflation and hotel prices sent soaring by record inbound tourism have left domestic travellers less eager to pack their bags."The biggest reason seems to be the inflation that has curtailed their willingness to spend lavishly", Atsushi Tanaka, a tourism studies professor at Yamanashi University, told AFP. "Because the inbound tourism is booming so much, hotel operators don't need to lower their accommodation prices,
Inflation and rising hotel prices are deterring Japanese tourists from traveling abroad, with a significant impact on their travel plans during the Golden Week holiday period. According to a survey by the travel agency JTB, only 44% of Japanese travelers plan to go overseas this year, a sharp decline from the 60% who traveled abroad in 2019 before the onset of the global health crisis. The weakening of the yen, which has lost about a third of its value against the dollar since early 2021, has made international travel more expensive, prompting many Japanese to opt for domestic trips instead. This shift in travel behavior is also influenced by the high cost of accommodations abroad, with hotel prices in popular destinations like Hawaii and Guam seeing significant increases.

Read the Full AFP Article at:
[ https://www.yahoo.com/news/inflation-hotel-prices-curtail-japanese-022449336.html ]