Japan travel agencies slump as weak yen hits overseas tourism

Industry leader JTB and others scramble to build new earnings pillars

The international departures area at Haneda airport in Tokyo during the long Golden Week holiday from late April to early May. (Photo by Suzu Takahashi)

KEIKO MARUYAMA and MAI KITAGAWA, Nikkei staff writers

May 25, 2024 07:08 JST

TOKYO -- JTB, Japan's biggest travel agency, anticipates a 53% drop in consolidated operating profit this fiscal year on elevated labor costs and sluggish overseas travel demand stemming from the historically weak yen.