Weakened Yen Boosting Japan Tourism

The weakening yen is causing a surge in foreign tourism.  I've maintained over the past several years that Japan's tourism industry would see a big rebound once the U.S. dollar regains some value when exchanged for yen.

Sure enough, according to an article in The Day.com:

Tokyo - Foreign visitors to Japan rose 33 percent last month to their highest on record for a February as a weakening yen boosted travelers' buying power. 

Arrivals increased to 729,500 in February, from 547,948 a year earlier, the Japan National Tourism Organization said in a report Friday. That's the highest for a February, according to tourism agency statistics going back to 1964.

Currently, the dollar buys around ¥94, this is slightly down from the earlier ¥96 yen of a week or so ago.  The decline is due to jitters over the monetary problems of Cyprus.

To read the full article, go here.