CAGAYAN DE ORO CITY, (Philippines): Amid tensions due to Chinese incursions in the West Philippine Sea, Catholic leaders are calling on the faithful to pray that the situation would be resolved peacefully.
The yen’s historic collapse, meaning a cheaper travelling experience for those with tourist dollars to spend, coupled with the post-pandemic surge in global tourism, has sparked interest in the nation like never before.
The island nation – famed for its dining, cleanliness and mix of futuristic and traditional experiences – currently feels more like a low-cost travel heaven than one of the world’s most advanced economies, thanks to extraordinary currency exchange rates. The yen has been stuck at a three-decade low in recent months, making everything from an omakase sushi lunch to premium A5 wagyu steak much more affordable.
Based on a Bloomberg Intelligence analysis, Japan is set to receive a record 34 million visitors this year, beating by a year a government target for exceeding 2019 visitor numbers. Prime Minister Fumio Kishida has stuck by a longer-term goal of 60 million inbound visitors a year by 2030. Tourists spent a record ¥1.75 trillion in the first quarter of the year, and that figure is likely to surge as the number of Chinese visitors rises. They spend twice as much as the average tourist, according to the Japan Tourism Agency.The weak yen and the hugely popular cherry blossom season lifted national hotel prices to a near-three decade high in March. The average daily room rate was on average, ¥20,986 , the highest level since 1997, according to CoStar Group.
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