Tourism aids growth in Japan retail sales for a 9th straight month

 Wednesday, December 28, 2022 


With the lifting of COVID-19 border controls and the government’s domestic travel subsidy, Japan has witnessed tourism rebound and this in turn has helped the country’s retail sales which recorded a rise for a ninth straight month in November.

The visitor arrivals to Japan rose to nearly 1 million in November, the first full month after the country scrapped COVID-19 curbs that effectively halted tourism for more than two years, reported.

A government domestic travel subsidy campaign to help the pandemic-hit tourism industry, which started in mid-October, also encouraged people to spend on travel and travel goods.

Retail sales grew 2.6% from the year earlier but short of a median forecast of 3.7%. The pace of annual growth in sales, a barometer of private consumption, slowed from 4.4% in October and 4.8% in September.

On a seasonally adjusted basis, retail sales slipped 1.1% in November from the previous month, down for the first time in five months.

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