Above, the Mitsukoshi department store at Ginza Crossing. Photo by Armand Vaquer.Japan tourism is recovering to normal levels according to a report.
But first, an observation.
The exchange rate between the U.S. dollar and Japanese yen is slightly more favorable to Americans. The current rate of exchange is at 1 USD = 81.5161 JPY (Source: Universal Currency Converter). While this is better than the low-to-mid 70s of weeks ago, the exchange rate needs to get around 100 yen/dollar rate to boost American travelers to Japan.
The Los Angeles Times reported:
Only days before the one-year anniversary of the devastating earthquake and tsunami in Japan, a report by a global travel trade group predicted that Japan's tourism industry will make a full recovery in 2012.
The World Travel and Tourism Council issued a report Wednesday, predicting that international tourism will generate $129 billion in spending in Japan in 2012, compared to $128.5 billion generated in 2010.
The article is in error concerning the plan to give away free airfare to 10,000 foreign travelers. The way the article was written indicated that the plan was implemented, when it actually was scrapped before it even got off the ground.
Still, it is good to see an optimistic report. The one-year anniversary of the earthquake and tsunami is this coming Sunday.
To read the full article, go here.
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