Japan’s travel and tourism sector set to break previous records in 2024

According to forecasts by the World Travel & Tourism Council (WTTC), 2024 is the year when Japan’s travel and tourism sector will witness record-breaking events, with its contribution to the economy, job creation and tourist spending set to reach historic levels.

The sector’s contribution to Japan’s economy is expected to reach almost ¥44.6 trillion in 2024, up 5.7% from its peak in 2019, underlining the key role of travel and tourism, accounting for 7.5% of Japan’s GDP.

Employment in the sector is expected to exceed 6 million jobs, up 10% from a year earlier and 209,700 more than in the previous record period, underscoring the sector’s importance in supporting Japan’s workforce and boosting employment in the country.

Spending by international tourists is expected to hit new records this year, reaching ¥6.3 trillion, while spending by domestic tourists is expected to reach almost ¥24.9 trillion, exceeding 2019 levels by 16% and 2%, respectively.

The Japanese government is working hard to promote sustainable tourism through a number of initiatives, including promoting lesser-known destinations across the country, fostering local cooperation and adopting innovative strategies to reduce traffic congestion.

Julia Simpson, President and CEO of WTTC, said: “Japan’s travel and tourism sector is set to break records, thanks in part to a favourable exchange rate for international travellers.

“All indicators are set to increase – contribution to the Japanese economy, increasing job numbers and tourist spending.

“These milestones underscore Japan’s leadership and commitment to excellence in the global tourism landscape.”

Remembering 2023

In 2023, Japan’s travel and tourism industry showed a solid recovery, growing by more than a third (34.4%) to almost 41.8 trillion yen, accounting for 7.1% of the national economic product.

While still lower than pre-pandemic levels, the sector generated 328,000 new jobs, reaching a total of 5.5 million.

Spending by international visitors increased by 447% to ¥5.66 TN. However, spending by international visitors increased from a low base, mainly due to Japan’s late reopening compared to many other international destinations.

Domestic tourism spending increased by 17.9% to 23.41 trillion yen.

10-year perspective

By 2034, the sector is expected to contribute almost 48.64 trillion yen to Japan’s GDP annually, or 7.9% of the economy. Employment is expected to reach almost 6.8 million jobs, with one in 10 working in the tourism industry.

See all the data in our Economic Impact Report on Travel and Tourism in Japan from the WTTC Research Center.