Weak yen boosts tourist wallets in Japan

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Weak yen boosts tourist wallets in Japan
WeakYenTourism
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CHENGDU: Malaysia beat Australia 4-1 in their last Group B match in the Uber Cup Finals on Wednesday (May 1).

A foreign tourist in a kimono stands next to a sign of a currency exchange at Asakusa district in Tokyo on April 25, 2024. - Reuters

The brands available in Japan are the same as in Europe -- Converse, Nike and Adidas -- but because of the exchange rate"it was really worth it" to buy, she told AFP. In March the monthly number of foreign visitors surpassed three million for the first time, up 11.6 per cent from March 2019 before the Covid pandemic torpedoed tourism.Currency movements help explain why. In 2019 a dollar bought 112 yen, compared to almost 158 on Wednesday , a 34-year low. On Monday it briefly hit 160.A luxury watch or handbag labelled at 700,000 yen in Tokyo now costs the equivalent $4,430, a snip compared to $6,250 five years ago.

Some Japanese are also unhappy about the invasion of big-spending tourists, thronging stores and clogging up their favourite restaurants. One town plans to put up a barrier blocking the view of Mount Fuji.

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