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Japan’s Inbound Tourism Boom: Lessons for its Post-COVID-19 Revival
Author: Anh Thi Ngoc Nguyen
Series:
IMF Working Papers
Volume/Issue:
Volume 2020: Issue 169
Language:
English
Publication Date:
21 Aug 2020
DOI:
https://doi.org/10.5089/9781513553207.001
ISBN:
9781513553207
ISSN:
1018-5941
Pages:
32
Keywords:
WP; tourism demand; source market; tourism industry; inbound tourism; tourist number; tourist arrival; Tourism; COVID-19; Personal income; Real exchange rates; Communicable diseases; Global; Japan inbound tourism; tourism determinants; Abenomics; visa policy; panel ARDL; origin country; tourism inf rastructure; attractiveness f; Asia and Pacific
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IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
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In this paper, we review developments in Japanese inbound tourism and investigate the main determinants of its rapid growth prior to the COVID-19 pandemic. Using a panel autoregressive distributed lag (ARDL) model with data on 34 tourism source markets from 1996Q1 to 2018Q4, we find that not only tourist income and tourism-related relative prices, also visa policies have had significant impacts on Japan’s inbound tourism demand in the long run. In the short run, natural disasters have had large and prolonged effects on tourism. We then derive policy implications for the post-COVID-19 revival of Japanese inbound tourism.
Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund