Japan's tourism market to suffer 4 trillion yen loss in Covid-19 pandemic

Nakamise shopping street

TOKYO, Oct 5 (Japan Times/ANN) - With foreign tourists shut out from Japan due to the coronavirus pandemic, about 15 percent of overall domestic travel revenue will be lost between February and December, according to a research institute estimate.

The forecast by Resona Research Institute also showed that Tokyo, Osaka and three other prefectures will be hardest hit among Japan’s 47 prefectures, representing 60 percent of the projected losses in consumption from the absence of inbound tourists.