Foreign Tourism in Decline
Jan 31, 2009 | 1:22 am
#16
FlyerTalk Evangelist
Join Date: Jul 2004
Location: London
Posts: 19,077
Tell me about it. For the first time ever, I am seriously considering cancelling an eagerly awaited trip back in April. I've got my C award seats on ANA but am looking at 88 yen/dollar for everything else and feeling a little sick.
I haven't made any decisions yet but the currency situation isn't making it easy for discretionary spenders to come to Japan. At least those of us who have to start with dollars. Or, apparently, won, yuan or TWD.
I haven't made any decisions yet but the currency situation isn't making it easy for discretionary spenders to come to Japan. At least those of us who have to start with dollars. Or, apparently, won, yuan or TWD.
We're back in Tokyo in April also. I'll be packing the Brita water filter, taking some flasks and forbidding all contact with those darn vending machines.
However, with the current exchange rate, prices become earily similar to those found in London's West End. I anticipate a marvellous and full two week visit despite my pauper status.
Ganbarimasu!!!
Jan 31, 2009 | 11:40 am
#17
Join Date: Jun 2003
Location: YVR
Programs: AC E75, SPG Plat, HH peon-by-choice (ex Gold)
Posts: 8,090
Jan 31, 2009 | 7:34 pm
#18
Join Date: Oct 2005
Location: YYC - soon to be 東京
Programs: AC Prestige, Marriott Silver, Hyatt Gold, Hertz #1 Gold, Radisson Gold Elite, HHonors
Posts: 1,830
Yikes. Time for me to watch the Yen/CAD exchange rate until this summer. I remember last year when it was around 100-en/CAD.. Talk about a good time to shop!! 
Sanosuke!
Sanosuke!
Feb 6, 2009 | 2:23 pm
#22
Moderator: The British Airways Club
Join Date: Jan 2009
Programs: Battleaxe Alliance
Posts: 22,183
I cringed quite a bit at GBP-JPY and EUR-JPY (my memory of JPY rate as it felt 'right' was 1=Y260, so the current exchange rate seems unbelievably bad), so I went and got myself a short contract that pays in JPY so that I don't feel so "exchange rate conscious" while I'm in Japan.
Last time I was there late last year, I ended up doing a big item shopping (bought myself a 9mm akoya pearl necklace), so I wanted to 'hedge my bet' by having some 'native' JPY in my pocket.
Last time I was there late last year, I ended up doing a big item shopping (bought myself a 9mm akoya pearl necklace), so I wanted to 'hedge my bet' by having some 'native' JPY in my pocket.
Feb 9, 2009 | 7:35 pm
#23
Join Date: Jul 2001
Location: Ani Ichibanya
Programs: WWMFD
Posts: 6,292
Short version from Nikkei
Occupancy Rates Near Record Lows At 3 Venerated Tokyo Hotels
TOKYO (Nikkei)--Occupancy rates at Japan's three most prestigious hotels -- the Imperial Hotel Tokyo, Hotel Okura Tokyo and Hotel New Otani Tokyo -- dwindled to historic lows last month with the global recession crimping patronage from foreign tourists and domestic business travelers.
The 1,005-room Imperial Hotel Tokyo saw its occupancy rate tumble to 59.6%. Excluding periods of renovations, this is the lowest since the 58% recorded in December 1986, when the strong yen kept overseas visitors away. Occupancy rates usually fall in January, but only to around 70%.
Hotel Okura Tokyo had an occupancy rate of 45% last month. Except for 1973, when a separate wing was opened, this is the lowest figure for the 833-room hotel since it opened in 1962.
Hotel New Otani Tokyo came in last of the three, with an occupancy rate of 37%.
A drop in foreign tourists is the main reason behind these lackluster figures. According to the Japan National Tourist Organization, visitors from overseas declined on a year-on-year basis for five months straight since August 2008.
TOKYO (Nikkei)--Occupancy rates at Japan's three most prestigious hotels -- the Imperial Hotel Tokyo, Hotel Okura Tokyo and Hotel New Otani Tokyo -- dwindled to historic lows last month with the global recession crimping patronage from foreign tourists and domestic business travelers.
The 1,005-room Imperial Hotel Tokyo saw its occupancy rate tumble to 59.6%. Excluding periods of renovations, this is the lowest since the 58% recorded in December 1986, when the strong yen kept overseas visitors away. Occupancy rates usually fall in January, but only to around 70%.
Hotel Okura Tokyo had an occupancy rate of 45% last month. Except for 1973, when a separate wing was opened, this is the lowest figure for the 833-room hotel since it opened in 1962.
Hotel New Otani Tokyo came in last of the three, with an occupancy rate of 37%.
A drop in foreign tourists is the main reason behind these lackluster figures. According to the Japan National Tourist Organization, visitors from overseas declined on a year-on-year basis for five months straight since August 2008.
Feb 9, 2009 | 9:17 pm
#24
Join Date: May 2005
Posts: 2,894
Feb 9, 2009 | 9:21 pm
#25
Join Date: May 2005
Posts: 2,894
Despite the low tourism in Japan, I think Japanese (as in individuals) are temporarily enjoying the strength of their currency as they flock to Korea and other countries for shopping...
Last few times I was transiting in ICN and flying to NRT or other destinations, I saw most of Japanese pax with one or more large duty free shopping bags containing Hermes, Gucci, named brand goods in large boxes. Certainly, strong currency for their aggregate domestic economy (and companies) and foreign trade is not good for Japan and that can ultimately influence individual Japanese citizens in relatively short period.
Last few times I was transiting in ICN and flying to NRT or other destinations, I saw most of Japanese pax with one or more large duty free shopping bags containing Hermes, Gucci, named brand goods in large boxes. Certainly, strong currency for their aggregate domestic economy (and companies) and foreign trade is not good for Japan and that can ultimately influence individual Japanese citizens in relatively short period.