The global vaccination rate is continuously increasing, contributing to the revitalization of the tourism industry. With valid vaccination proof, some countries also relieve overseas travel. But it is undeniable that cross-border traveling still encounters tremendous barriers compared with the past under the new normal. Japan is also not excepted from the restrictions.
Yet, the situation is promising, there is recently a K-shaped recovery in Japan’s market. The e-Commerce and gaming industry is achieving a higher profit during the pandemic, while businesses like airlines, transportation, and F&B experienced a significant downtrend. Applying this phenomenon to other regional businesses, we can observe that businesses with limited movement and traffic flow are gaining momentum from the general public, which also arouses the awareness of purchasing and using these services and products in Japan.
Meanwhile, the surge in inbound visitor in the recent year also indicate the unique attractiveness of traveling in Japan. In fact, the export value of Japan has also doubled in the last ten years, and inbound tourism contributes significantly to the boost of Japan’s export. Surprisingly, Hong Kong, even with a small population, is named one of the top export destinations of Japanese products. Therefore, it is expected that Japan will soon recover from the pandemic once the travel restriction is eased.
Looking forward, as a leader in Asia’s data industry, Vpon will leverage our data capabilities and technology to assist the recovery under the pandemic and will continue to provide the best data solution across different industries.
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