Weakened currency compared to the US dollar makes entire travel experience more affordable
Demand booming since the end of pandemic across the Asia-Pacific, drawing in travellers from China and North AmericaWASHINGTON – American tourists headed for Japan have surged this year, lured by a slump in the value of the yen, which is also driving a massive jump in foreign investor interest in the country's lodgings market.
While pent-up travel demand since the end of the pandemic has also contributed, the Japanese currency's recent plunge to a 38-year low to the US dollar has been a key factor, as it boosts the spending power of American tourists. "The weakened yen compared to the US dollar makes the entire travel experience more affordable for American tourists," said Tim Hentschel, CEO of travel bookings platform HotelPlanner.Cross-border investments in the industry came in at $1.38 billion in the first half of this year, up 19.2pc from the same period of 2023, and 176.3pc compared to the first half of 2019, according to MSCI data.
Yen Devaluation US Dollar Japanese Hotel Industry Foreign Investments Japanese Currency Weak Yen
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