Japan eyes ¥8 trillion revenues from foreign tourists spending
Shruti Dugar - on October 18, 2017
Japan is witnessing a boom in the number of international arrivals and a hike in expenditure by tourists with the Japanese tourism industry focusing more on expenditure of personal items as well as special experiences, instead of focusing merely on souvenirs.
The term ‘bagukai’ or explosive shopping which is particularly carried out by Chinese travellers are helping in turning the business up for local departmental store operators, who are recording high sales turnover from such tourists. The tourists generally buy home appliances for families and friends.
The Japanese Tourism Agency has stated that a total of ¥1.08 trillion was generated in the period of April-June, which encompasses travel-related shopping inclusive of meal charges, hotel charges by foreign tourists. The spending on shopping has also witnessed a growth of 15%.
The Japanese government has set a target of raising the spending by foreign tourists to ¥8 trillion in 2020, more than double of the money spent by the tourists in 2016.
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