Monday, June 26, 2023
This week’s 2023 Economic Impact Research of the WTTC discloses the GDP contribution of Japan’s Travel & Tourism sector which is expected to reach USD 285.5 billion in 2023.
This data is just 6.8% shy of to the pre-pandemic highs of 2019 of USD 306.5 billion. By the end of 2023, this could correspond to 6.8% of the total economy.
In spite of the pandemic effects spanning into 2023 in Japan, for tourism, WTTC is predicting to create almost 470,000 jobs in 2023 alone which would reach to almost 5.6 million. In Japan, this signifies roughly one in twelve workers are associated with the Travel & Tourism sector, directly or indirectly.
To reach to the levels of pre-pandemic times, tourism is still deficit 300,000 jobs; by the end of 2023, it will only be 5.2% under 2019 height.
In Japan, foreign visitor spending is anticipated to rise by 553.4% in 2023 to reach USD 16.8 billion, still 57.6% underneath the 2019 peak.
The sector’s GDP contribution in 2022 increased by 50.5% to reach over USD 257 billion. This represented 6.2% of the economy.
Last year, tourism sector witnessed jobs to increase in numbers, from 2021, to almost 5.1 million jobs countrywide – one in 13 jobs across Japan.
In last year, international visitor spend in Japan dropped as the ill-impacts of long time travel restrictions chokehold on tourism completely.
Tags: japan, per-pandemic, Tourism, WTTC
Saturday, April 27, 2024
