TOKYO -- While spending by international visitors to Japan reaches record highs, data shows travelers growing more budget-conscious, leaving businesses at risk of falling back into the pre-pandemic trap of brisk business with thin profits.
January-March spending by foreign visitors reached about 1.75 trillion yen ($11.2 billion), according to the Japan Tourism Agency. This is up 73.3% on the year and is 52% higher than the same period of 2019, before the COVID-19 pandemic. On a full-year basis, 2024 is likely to break the 5.3 trillion yen record high marked in 2023.
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