Japan’s JTB Forecasts 8.8% Drop in Summer Outbound Travel as Weak Yen Lifts Costs

Japan’s major travel agency JTB forecast that Japan’s total outbound travelers during the summer holiday period will reach 2.17 million, down 8.8% year over year, marking the first year-over-year decline since the post-pandemic recovery that began in 2023. According to Jin10, citing Kyodo News, JTB said consumers are feeling the impact of a weak yen and rising costs. Based on JTB’s projection for the period from July 15 to August 31, higher costs are pushing Japanese travelers away from long-haul destinations such as North America and Australia. JTB also said domestic travel could face difficulties as people become more frugal amid inflation. JTB forecast that average spending per outbound trip will rise 6.3% to 323,000 yen. It said that, beyond the weak yen raising overseas expenses, the Middle East crisis has driven up aviation fuel prices, which in turn has increased fuel surcharges and added to the burden. JTB’s forecast said nearby destinations with cheaper airfares are popular, with South Korea ranking first at 26.2%. For domestic travel, JTB forecast a 4.4% decline from last year to a total of 69 million trips, while average spending per person is expected to rise 3.2% to 48,500 yen.