Chinese tourists provide a fillip to Japan's economy
Updated: 2016-02-29 08:06
By Cai Hong(China Daily)
|
|||||||||
Chinese tourists visit Tokyo's Ginza district for shopping in August. Japan is the second-most popular overseas destination. [Photo provided to China Daily] |
Japan is making increasing efforts to serve the growing number of Chinese tourists visiting Japan.
All FamilyMart stores in Japan began accepting Chinese UnionPay payment cards on Feb 2, which means all the three major chain convenience stores in Japan, namely Lawson, 7-Eleven and FamilyMart, accept UnionPay cards and allow for easy PIN-free payment.
Nearly 5 million Chinese tourists visited Japan in 2015, twice that of the year before. And Chinese tourists outstrip travelers from other countries in terms of expenditure, with each one spending $2,446 on average.
The Chinese mainland is one of the main global suppliers of tourists, and that has been paying dividends for retailers globally.
By 2019, Bank of America Merrill Lynch expects some 174 million Chinese tourists to be spending $264 billion in comparison with the 109 million who spent $164 billion in 2014.
Thanks to its cultural similarity and accessibility, Japan is one of the most popular destinations for Chinese tourists, and the ever-increasing number of Chinese tourists are bringing new business opportunities to Japanese merchants.
Japan's economy contracted at an annualized pace of 1.4 percent in the fourth quarter of last year, the fifth contraction in the 12 quarters Japanese Prime Minister Shinzo Abe has been in office. Weak private consumption was the biggest drag on Japan's economy, declining 3.3 percent at an annualized pace. December was the fourth consecutive month in which spending declined and it was the biggest fall since last May.
Out of options and desperate to boost its struggling economic recovery and ward off deflation, Japan has been forced to try its luck with negative interest rates.
- Global health entering new era: WHO chief
- Brazil's planning minister steps aside after recordings revelation
- Vietnam, US adopt joint statement on advancing comprehensive partnership
- European border closures 'inhumane': UN refugee agency
- Japan's foreign minister calls A-bombings extremely regrettable
- Fukushima impact unprecedented for oceans: US expert
- Stars of Lijiang River: Elderly brothers with white beards
- Wealthy Chinese children paying money to learn British manners
- Military-style wedding: Fighter jets, grooms in dashing uniforms
- Striking photos around the world: May 16 - May 22
- Robots help elderly in nursing home in east China
- Hanging in the air: Chongqing holds rescue drill
- 2.1-ton tofu finishes in two hours in central China
- Six things you may not know about Grain Buds
Most Viewed
Editor's Picks
Anti-graft campaign targets poverty relief |
Cherry blossom signal arrival of spring |
In pictures: Destroying fake and shoddy products |
China's southernmost city to plant 500,000 trees |
Cavers make rare finds in Guangxi expedition |
Cutting hair for Longtaitou Festival |
Today's Top News
Liang avoids jail in shooting death
China's finance minister addresses ratings downgrade
Duke alumni visit Chinese Embassy
Marriott unlikely to top Anbang offer for Starwood: Observers
Chinese biopharma debuts on Nasdaq
What ends Jeb Bush's White House hopes
Investigation for Nicolas's campaign
Will US-ASEAN meeting be good for region?
US Weekly
Geared to go |
The place to be |