Sales of 1110 travel companies in Japan reduced by 71.2% to 724.2 billion JPY in total in 2021 from 2,519.7 billion JPY in 2020, the first pandemic year, according to Tokyo Shoko Research. Compared to 2019, the total shrank to one-third of 2,771 billion JPY, which means the travel industry lost about 2 trillion JPY in sales so far throughout the pandemic.
In 2020, sales in total just reduced by 9% year on year because of Go To Travel program starting July, however the industry has been struggling again in 2021 since the program was suspended in December 2020 due to re-expansion of COVID-19 cases nationwide.
971 companies, 87.4% of all targeted companies, reduced sales, and only 34.5% of the total posted profits in the yearly financial results. The ratio of companies in red accounted for 65.4% of the total, 26.1 higher points than 2020 or 49.9 higher points than 2019. All major companies run deficits in 2021 from surpluses in 2019.
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