Japan’s Tourism Policy Succeeds, With Industry Becoming Economic Pillar

News Analysis  Japan’s tourism policy has borne fruit, with nominal spending by visitors to Japan from January to March amounting to 7.2 trillion yen annually (about $449 billion), marking a five-fold increase over the past decade. The “Tourism Vision to Support Japan’s Future,” introduced in March 2016 with strong support from the private sector, has yielded positive results, with the tourism industry establishing it itself as a critical pillar of the Japanese economy. Foreign visitors in 2023 contributed 7.2 trillion yen ($44.5 billion) to the Japanese economy, according to news outlet Nikkei. Although this is less than half of that generated by Japan’s top-ranked automotive industry, which contributed 17.3 trillion yen (about $110 billion), it exceeds that of the previously second-ranked semiconductor and electronic components industry, which stood at 5.5 trillion yen (about $34.3 billion). The steel industry came next at 4.5 trillion yen (about $28 billion)....