2013-09-17 09:05:17 - Recently published research from Business Monitor International, "Japan Tourism Report Q4 2013", is now available at Fast Market Research
BMI's Japan Tourism report examines the increasing trend towards growth in the Japanese tourist market which, despite domestic economic limitations, is showing continued signs of recovery from the inbound travel downturn in the wake of the March 2011 earthquake and ensuing nuclear crisis.
The Great East Japan earthquake, resulting tsunami and nuclear crisis of March 2011 had a devastating short-term impact on the Japanese tourism industry, immediately decreasing inbound and domestic tourist activity, with inbound travel falling by 27.78% to 6.2mn in 2011. Figures were recovering in 2012, when inbound travel reaching approximately 7.3mn and in 2013 we expect inbound travel to reach and surpass the highs of inbound travel seen in 2008, before the international economic crisis.
Japan continues to work
on repairing the infrastructure damage caused by the earthquake and tsunami. Significant progress was made in 2012, however far more work is needed in order to make any kind of substantial dent in the project pipeline. Despite the restrictions on investment in place due to the continuing stagnation of the domestic economy, and the extensive non-travel infrastructure related rebuilding necessitated by the earthquake, the government continues to invest in large-scale expansion and improvement projects that will provide a boost to the tourism market. BMI expects the construction sector to see 3.2% growth in 2013.
Full Report Details at
Aided by the efforts to rebuild and expand existing transport infrastructure, and boosted by a renewed trust in travel to Japan, we expect inbound arrivals to the country to increase at a very positive rate throughout the forecast period, reaching over 14mn in 2017, almost double the expected 2013 arrivals figure. The global credit crunch will continue to have an impact on long distance travel from the major markets in Europe and the United States however expect this to be offset by the increase in tourism from the Asia Pacific region, where many countries are experiencing strong economic growth. In particular China and South Korea offer fantastic opportunities for growth, dependent however upon the easing of diplomatic tensions between Japan and both countries on the basis of territorial disputes.
Japan is currently bidding to host the 2020 Olympic Games, which would be a major boost both to inbound tourism and the development of the country's transport and tourism infrastructure if successful. The announcement is due in September 2013.
* Many of the global top 10 hotel chains are investing in Japan; the Intercontinental Osaka opened in mid 2013 and several new hotels are under development including the Ritz-Carlton Kyoto, a Mariott Miyako Hotel opening in Osaka in 2014 and the Four Seasons Hotel Kyoto expected to open in 2015.
* Japan's airport operators are still recovering in the wake of the 2011 earthquake but revenue is increasing and expansions are being planned at Narita and Haneda airports which will aid the development of long distance travel. The country's already extensive rail network continues to receive substantial investment with three major projects currently under construction and a fourth expected to begin in 2014.
* Outbound air travel is expected to decrease in 2013 and show only limited growth through to 2017 when we forecast outbound tourism will reach approximately 24.6mm passengers per annum - an improvement of previous estimates based on revised growth forecasts.
* The total arrival figure forecast has been revised upwards to a substantial 14mn in 2017, based primarily on the strength of Asia Pacific region markets.
* This quarter BMI has given Japan an overall Tourism Industry Risk/Reward rating of 52.67, ahead of Laos but behind Sri Lanka in the Asia Pacific market.
* Key events in 2013 include the opening of a new luxury tourist train on the island of Kyushu, the rebuilding of the Ise Shrine (an event which only occurs every 20 years) as well as several major international art fairs and the biannual Tokyo Motor Show.
About Business Monitor International
Business Monitor International (BMI) offers a comprehensive range of products and services designed to help senior executives, analysts and researchers assess and better manage operating risks, and exploit business opportunities, across 175 markets. BMI offers three main areas of expertise: Country Risk BMI's country risk and macroeconomic forecast portfolio includes weekly financial market reports, monthly regional Monitors, and in-depth quarterly Business Forecast Reports. Industry Analysis BMI covers a total of 17 industry verticals through a portfolio of services, including in-depth quarterly Country Forecast Reports. View more research from Business Monitor International at www.fastmr.com/catalog/publishers.aspx?pubid=1010
About Fast Market Research
Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available.
For more information about these or related research reports, please visit our website at www.fastmr.com
or call us at 1.800.844.8156.