Japan Travel & Tourism Market Insights Forecasts to 2032

• The Japan Travel & Tourism Market Size was valued at USD 223.5 billion in 2022.
• The market is growing at a CAGR of 8.23% from 2022 to 2032.
• The Japan Travel & Tourism Market Size is expected to reach USD 492.86 billion by 2032.
• Japan is expected to grow the fastest during the forecast period.

The Japan Travel & Tourism Market Size is expected to reach USD 492.86 billion by 2032, at a CAGR of 8.23% during the forecast period 2022 to 2032.

Market Overview

Japan is an officially recognized country in Eastern Asia. Tourism is a significant business and provider to the Japanese economy in Japan. It is widely recognized for its lively cities, royal palaces, wildlife refuges, and several magnificent temples. Himeji Castle, Historic Monuments of Ancient Kyoto, and Nara are among Japan's 21 World Heritage Sites. Tokyo and Hiroshima are famous foreign tourist attractions, as are Mount Fuji, ski resorts such as Niseko in Hokkaido, Okinawa, riding the Shinkansen, and making use of Japan's hotel and hotspring network.

However, the travel and tourism industry in Japan is still recuperating and has not yet returned to levels prior to the pandemic, but the regular flow of visitors is rapidly increasing. The Japan travel and tourism industry may expand in the next years as demand rises for a variety of reasons. Furthermore, growing urbanization and an increase in financial flexibility are two significant trends driving the expansion of travel and tourism. In addition, an upsurge in the cost-effectiveness of airline travel, improved access to many remote yet beautiful regions, and an increase in disposable money is projected to boost the Japan travel and tourist market.

Report Coverage

This research report categorizes the market for Japan Travel & Tourism Market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Japan Travel & Tourism Market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segments of the Japan Travel & Tourism Market.

Driving Factors

Tourism continues to be a vital factor for socioeconomic progress in Japan, with a growing number visits of recreational and heritage places experiencing unique emerging trends in tourism. Boasting its vast bounty of resources, Japan offers a plethora of options all through the four seasons. Tourists gravitate to trail running, river rafting, and sea activities, as well as skiing and snowboarding. For example, Japan has had a lot of success organizing and hosting mega-events, especially spectator events. It hosted the Summer Olympics in 1964 as well as Tokyo 2020 Summer Olympics (however, the event was postponed to 2021, due to Covid-19). In addition, Japan has hosted the Asian Games, the FIFA World Cup, and numerous more tournaments. Participants can explore and appreciate cultural heritage sites or abundant fauna in the surrounding area along with participating in a variety of sports. The increasing expectation of customers to have a positive experience leads to the expansion of the Japan travel and tourism market. As a result, there is an increase in Japan travel and tourism for emerging markets as opposed to traditional domestic or foreign vacation destinations.

Market Segment

• In 2022, the leisure travel segment is witnessing a higher growth rate over the forecast period. 

Based on the travel types, the Japan Travel & Tourism Market is segmented into leisure travel and business travel. Among these, the leisure travel segment is witnessing a higher growth rate over the forecast period. Most tourists prefer leisure travel with relatives or close companions to break up their humdrum existence. When visiting a location, vacationers are also increasingly interested in experiencing regional customs and dietary habits. Travelers worldwide are seeking more adventure-related experiences than ever before.

• In 2022, the recreational & heritage segment accounted for the largest revenue share of more than 37.8% over the forecast period.

On the basis of tourism type, the Japan Travel & Tourism Market is segmented into wildlife, spiritual & religious, recreational, heritage, and others. Among these, the recreational & heritage segment is dominating the market with the largest revenue share of 37.8% over the forecast period.

• In 2022, the online segment accounted for the largest revenue share of more than 34.2% over the forecast period.

On the basis of booking model, the Japan Travel & Tourism Market is segmented into online and offline. Among these, the electronics segment is dominating the market with the largest revenue share of 34.2% over the forecast period. Tourists favor vacations, but for numerous people, planning the trip is an important part of the experience. Before acquiring travel tickets, lodgings, tours, or any other extra amenities or modes of transportation, it is customarily necessary to conduct extensive research and make a selection. However, the growth of the online travel companies has undeniably sped up the process while also providing clients with more options.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the Japan Travel & Tourism Market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• JTB Corporation
• Nippon Travel Agency
• KNT – Kinki Nippon Tourist
• Magical Trip
• JAPANiCAN.com
• JapanQuest Journeys
• Japan Gray Line
• Walk Japan
• OMAKASE Tour
• Japan Wonder Travel
• Arigato Travel

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• On June 2023, Walk Japan has launched seven new tours to commemorate the country's reopening following COVID-19. The excursions offer a variety of intimate experiences of Japan's less-visited regions' countryside, society, culture, and legacy. Michinoku Coastal Trail, Shio-no-Michi: The Salt Road, Self-Guided Tokaido Wayfarer, Onsen Gastronomy: Gifu in Honshu, and Self-Guided Kunisaki Wayfarer, Onsen Gastronomy: Oita & Kumamoto in Kyushu are among the seven new tours.

• On April 2023, Tablecross Co., Ltd., which operates byFood.com, a prominent food tourism platform for inbound visitors to Japan, announced today that it has raised $2.24 million in Series A funding to grow recruitment, marketing, and system integration development. Shoku no Mirai No.1 Investment Limited Partnership led the investment, with JTB Corporation, Veltra Corporation, and PR TIMES Inc. serving as underwriters. Tablecross has received a total procurement amount of about 4.1 million USD as a result of its investment.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2021 to 2032. Spherical Insights has segmented the Japan Travel & Tourism Market based on the below-mentioned segments:

Japan Travel & Tourism Market Size, By Travel Types

• Leisure Travel
• Business Travel

Japan Travel & Tourism Market Insights, By Tourism Type

• Wildlife
• Spiritual & Religious
• Recreational
• Heritage
• Others

Japan Travel & Tourism Market Size, By Travel Days

• Within 7 Days
• 7-15 Days
• More than 15 Days

Japan Travel & Tourism Market Forecast, By Booking Model

• Online
• Offline