Japan third largest travel and tourism economy pegged at $367.7 billion; WTTC

 Wednesday, March 27, 2019 


Japan preserves its position as world’s third largest travel and tourism economy, according to the latest WTTC research released last week.


Last year, travel and tourism contributed JPY40, 604.2 billion to the economy of the country. This is the equal to USD367.7 billion which made Japan world’s third largest travel and tourism economy above Germany where tourism contributed a total of USD344.8 billion.


WTTC brings together the annual report on 185 countries. The US occupied the top most spot with USD1595 billion, followed by China in the second place with USD1509 billion.


It shows travel and tourism economy of Japan increased at an annual rate of 3.6% to contribute JPY40, 604.2 billion to the economy of the country. This shows 7.4% of all economic activity in Japan.


Supporting 4.6 million jobs, or 6.9% of employment, the tourism economy in Japan is mainly driven by leisure travelers.


The report showed 68% of spending was contributed by leisure visitors and 32% from business travelers (well above the global average of 21.5%)


Spending from domestic travelers showed 82% of the tourism spending, as 18% came from overseas travelers.


To quote WTTC president & CEO Gloria Guevara, “The plan to double international visitors to 40 million by 2020 and to 60 million visitors by 2030 shows a great understanding of the role of travel and tourism as a driver of economic growth and job creation. With the Rugby World Cup happening later this year and the Olympics in 2020, Japan is set to host two events which should have strong impact on its Travel & Tourism sector.”

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