Link: Japan’s summer travel spending soars despite economic pressures

Japanese households plan to spend the most in six years this summer, with many aiming to travel despite rising inflation and a weakening yen, according to a survey by Meiji Yasuda Life Insurance. Conducted from June 14 to 21 with 1,120 participants aged 20-59, the survey reveals that the average summer vacation budget for leisure activities has surged to ¥82,964, up ¥10,296 from last year, marking the third consecutive year of budget increases and the first time in six years that it has surpassed ¥80,000. While 58.5% of respondents plan outings (up from 56.6% last year), 41.5% intend to stay home (down from 43.4%). Reasons for staying home include the brutal summer heat (43.7%), avoiding crowds (34.6%), and rising prices (32.7%). Domestic travel remains the top choice at 56.9%, with an average spend of ¥137,357, up from ¥107,836 last year. International travel, chosen by 7.3%, sees an average spend of ¥438,125, up from ¥312,326 in 2023. Consumer behavior shows a split: 16% plan to spend more on summer fun (down from 16.6%), while 20% are cutting back (up from 15%), mainly due to rising living costs. Notably, 72.6% of those increasing their budgets want to travel, up from 67.7% last year. #

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