JTB, the leading travel company of Japan, has forecasted that domestic travelers in Japan is expected to increase by 8.6% year on year to 266 million in 2023 (down 8.8% compared to 2019). The average travel consumption is expected to increase by 1.5% to the highest 40,300 JPY since 2000. The total amount of travel consumption is estimated at 10.7 trillion JPY in the domestic travel market. JTB said that the market will be affected by rise in prices although demand shift from outbound travel is anticipated.
The number of outbound travelers from Japan is forecasted to increase by 189.7% year on year to 8.4 million (down 59.6% compared to 2019). The average travel consumption is estimated at the highest 294,900 JPY since 2000 primarily because of weaker yen and rise in fuel surcharges. The total amount of consumption is expected to be up 195.2% to 2.5 trillion JPY. JTB sees that recovery will be much slower in the outbound travel market than the inbound travel market.
The number of inbound travelers to Japan is expected to increase by 450.6% year on year to 21 million (down 33.8% compared to 2019). JTB has anticipated quick recovery of travelers from South Korea, Thailand and Singapore, and full-scale recovery of travelers from China after July 2023.
Highlights in the travel market in 2023
Three or more consecutive holidays will reduce from 9 in 2022 to 7 in 2023, but coming Golden Week period will be five consecutive holidays from May 3 to May 7, and if May 1 and 2 are off, the consecutive holidays will extend up to 9 from April 29 to May 7.
Several big sports events are expected to stimulate the travel market. WORLD BASEBALL CLASSIC(WBC) will be held in Japan and U.S. from March 8 to 21. World Aquatics Championships Fukuoka 2023 will start on July 14, and Rugby World Cup will open in France on September 8.
Also, the 40th anniversary event for Tokyo Disney Resort will be held from April 15 2023 to March 31 2024.
The large-scale commercial complexes, such as Tokyo Midtown Yaesu on March 10, Tokyo Kabukicho Tower in April and Warner Bros. Studio Tour Tokyo - The Making of Harry Potter in the coming summer, will open.
Newly opened hotels include ‘Bvlgari Hotel Tokyo,’ ‘Aman Residence Tokyo,’ ‘Janu Tokyo,’ ‘Hilton Yokohama,’ ‘Niseko Aman,’ ‘voco Osaka Central’ and ‘Shisui Luxury Collection Hotel Nara.’
