Credit card spending by visitors to Japan up in December

Visitors to Japan spent more money using credit cards in December than during the same period three years earlier, before the start of the coronavirus pandemic.

A private think-tank, the Japan Research Institute, and a credit card company calculated the amount of money spent with one card by people who visited Japan last month.

The amount of credit card spending by travelers from Taiwan rose 2.3-fold from December, 2019. The figure for visitors from Thailand grew 1.9-fold, by 1.8-fold for those from Australia and by 1.7-fold for Chinese and British tourists.

The figures also rose sharply among visitors from other parts of the world, with a 1.6-fold increase for Americans and a 1.4-fold rise for South Koreans.

At stores selling high-end brand products, travelers from Taiwan and the United States increased their spending by 4.8 times from pre-pandemic levels. Spending by visitors from China marked a 4.1-fold increase. Travelers from Thailand quadrupled theirs.

The research institute says foreign tourists are buying expensive products, as they are visiting Japan for the first time in three years. It also cites the yen's lower exchange rates as another factor behind the rise in credit card spending.

Source: https://www3.nhk.or.jp/nhkworld/en/news/20230130_19/