KResearch is of the view that several years of economic stagnation in Japan have pushed its government to find initiatives to restore the economy – one of which has been to stimulate the tourism sector. Japanese authorities have implemented a visa exemption program for visitors from certain countries, including Thailand, which has come to fruition since its inbound tourism has been growing at double-digit rates over the past few years.
During 2014, foreign tourists in Japan surged 29.0 percent to a total of 13,413,500, while arrivals from Thailand were recorded at 657,600, jumping 45.0 percent – a rate which surpassed the average arrival growth overall.
This year, we believe that Japan will continue to be popular for Thai travelers with the help of the ongoing visa exemption policy, plus abundant marketing campaign and promotion by relevant businesses, as well as the weakening JPY. We at KResearch forecast that Japan will receive around 822,000-855,000 visitors from Thailand this year, thus relatively high growth of 25.0-30.0 percent. Overall spending by Thai tourists there will probably reach THB26.3-27.5 billion, up 20.0-25.0 percent, but down from the 45.3-percent surge last year. The decreasing spending in THB would likely be attributable to the weaker JPY, which depreciated 13.7 percent YoY versus the THB during 1Q15, therefore, fewer (equivalent) THB would be spent while holidaying in Japan. Such spending, however, excludes international travel fares.
And on April 3, 2015, Thailand's Department of Civil Aviation signed a memorandum of cooperation with the Japan Civil Aviation Bureau (JCAB), granting permission for Thai chartered flights to enter Japan during April and May 2015 – a development which should help sustain an exuberant climate for Thai tourists visiting Japan, for now.
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