Yen depreciation trend resurges, fueling Japan travel boom as it nears 113 yen per dollar

▲ Beautiful autumn leaves in Akita, Japan. (Photo / Credit to reporter Yourú)

Travel Center / Comprehensive Report

The Bank of Japan announced an expansion of its quantitative easing program, prompting the yen to weaken further, approaching the 113 yen per dollar mark on the 3rd. With the yen continuing to depreciate and the Taipei International Travel Fair (ITF) just around the corner, it is expected that trips to Japan for autumn foliage viewing and hot spring experiences will be highly popular.

Pei XinyP, General Manager of Lion Group, stated that purchasing local goods while traveling abroad is a very important activity for Taiwanese tourists. With the expansion of tax-free items and the yen’s depreciation, the company is very optimistic about the growth momentum. Lion Group noted that according to statistics from the Ministry of Foreign Affairs, the number of Taiwanese tourists visiting Japan has increased by 30% year-on-year. Beyond short-term positive factors, Japan’s consistent and systematic efforts in cultivating the Taiwanese tourism market have also contributed to stable growth in tourist numbers.

However, Liao Wencheng, General Manager of Phoenix Travel Agency, mentioned that although the weakening yen may increase Taiwanese willingness to travel to Japan, travel agencies operate using forward exchange rates, so costs have not decreased. Aside from potentially higher shopping commissions on Japan tours, he remains conservative about the extent of profit gains. (News source: Central News Agency)