Japan's Slowdown In Tourist Spending

Above, Shibuya Crossing in Tokyo. Photo by Armand Vaquer.

As I figured months ago, the rising yen has put a bit of a damper on tourist spending in Japan, among other things. Right now, one U.S. dollar will only buy ¥102, provided that they're a "high roller".

The Japan Times posted an editorial on the "Slowdown In Tourist Spending".

They begin it with:

The rapid growth in consumption by inbound tourists, a boon for the retail industry at a time when domestic consumption remains weak, is losing steam even as the number of visitors to Japan keeps rising. This can be explained with a variety of reasons, including the yen’s recent strength, decelerating growth in China and changing spending behavior by tourists themselves. The government has floated robust targets for doubling the number of incoming tourists and their consumption by the time Tokyo hosts the Summer Olympics in 2020. Policymakers and businesses should grasp what the slowdown in spending means and consider appropriate responses.

To read more, go here.