A strong case can be made that this is the best time to visit Japan and here is why.
The Japanese yen recently (October 2023) tested its 33-year low against the US dollar. It weakened past ¥150 against the greenback and has been trading in the range of ¥140 to ¥150 per dollar for a while. In late 2019 just before the COVID-19 pandemic broke out, one US dollar could only buy you ¥110. The Canadian dollar, although weak against the US dollar, recently traded as high as ¥110 while before the pandemic your loonie was worth no more than ¥85.
The weak yen has caught the attention of tourists from around the world. Anyone who has been to Japan recently would tell you that every popular tourist attraction there was packed with foreign tourists. Even cities and towns that didn’t see much tourist traffic from overseas are busy dealing with such visitors. The surge of recent tourist arrivals is about to set a new record not seen ever in the history of Japan’s tourism industry.
The weak yen has been a boost to the Japanese economy and many big Japanese corporations are raking in record profits. In the meantime, inflation is driving up consumer prices and the dire shortage of labour across Japan further adds fire to the flame of wage inflation. All this means that it is only a matter of time before the Japanese yen bounces back and price hikes begin to hurt the wallet of international visitors.
Already, hotels are jacking up rates across the board and transportation costs are soaring. For instance, Japan Rail Pass prices went up by a staggering 69% this month (October 2023). Tour bus prices just went up by over 30% partly due to increased compensation for drivers as the country is faced with a severe shortage of bus and truck drivers – Japan is so desperate for drivers that foreigners who have relevant experience and promise to come to work as drivers will receive special treatment with their work visa applications.
If Japan is on your bucket list, you should consider going before the Japanese currency bounces back. Our 2024 Japan tours are ready for booking. Once your deposit is received, you will be protected against potential price increases. On top of that, you’ll also qualify for a decent early bird discount. Repeat customers will be treated even better. So, what are you waiting for?
