So hot this year! In this scorching summer, if you ask what can be hotter than temperatures reaching 30-40 degrees Celsius, it must be the domestic and international tourism market...

 

Just recently, for friends who want to travel to Japan, these two weeks have been full of good news!

 

First, the Ministry of Culture and Tourism of the People's Republic of China announced the resumption of the third batch of outbound group tourism for certain countries and regions, and the popular destination, Japan, is among them. Panda's friends have been eagerly anticipating this moment, and their inner thoughts are like: after three years of waiting, group tours to Japan are finally allowed!

 

Furthermore, the Japanese yen exchange rate continues to decline, hitting a new low and breaking the "5" yuan mark. Simply put, with the same amount of Chinese yuan travel budget, you can now get more Japanese yen!

 

Source: Sina Finance

 

However, speaking of which, why did the Japanese yen experience this downward trend since August, despite the fact that it was on the rise in July?

Strengthening of the U.S. dollar

• In July, U.S. PPI (Producer Price Index) increased by 0.8% year-on-year, ending 12 consecutive months of decline.
• In July, U.S. PPI increased by 0.3% month-on-month, the largest increase since January 2023.
• In July, U.S. core PPI increased by 0.3% month-on-month, exceeding the expected 0.2%.
• In July, U.S. core PPI increased by 2.4% year-on-year, exceeding the expected 2.3%.

Overall, the U.S. PPI in July exceeded market expectations.

 

Source: Bloomberg News Agency

 

After the release of the data, market expectations of a rate hike by the Federal Reserve increased, causing a sharp rise in the U.S. dollar index.

 

At the same time, the U.S. dollar received broad support from comments made by Federal Reserve officials. They believe that there is still room for further interest rate increases.

 

Domestic data in Japan fell short of expectations

 

According to the survey results released by the Japanese Ministry of Internal Affairs and Communications on August 8th, Japan's actual household spending in June decreased by 4.2% year-on-year after excluding the impact of price factors. This marked the fourth consecutive month of year-on-year decline, further impacting the yen's performance.

 

In addition, Japan's inflation rate remains high.

 

At the same time, the wage growth in June in Japan was lower than expected. The year-on-year growth rate of cash earnings for workers decreased from a year-high of 2.5% in May to 2.3%, below the expected value of 3%. This supports the necessity for the Bank of Japan to continue its accommodative policy in the short term.

 

The Bank of Japan's persistence in maintaining an ultra-loose policy has kept the yen weak.

 

 

 

Everything has two sides. Although the yen has depreciated, Japan's tourism industry may experience a new upswing. After all, Japan has long been one of the main destinations for Chinese tourists.

 

Now that China has lifted the ban on group tours to Japan, the tourism and sales industries in Japan have already begun to anticipate the strong return of Chinese tourists and their explosive buying.

 

Major Japanese airlines are increasing flights between Tokyo, Osaka, and other central cities in China, as well as reopening large cruise ships for travel between Japan and China, in order to welcome the arrival of tourists.

 

With the stimulation of the tourism industry, the yen may also experience a new wave of growth.

 

Of course, for those who are planning to travel to Japan, now is the time to buy - the policy has been relaxed, the exchange rate is favorable, and there are more flights available. Panda reminds everyone that it is a good time to visit Japan. For those who are planning to work or study in Japan, don't forget to seize this opportunity and exchange currency in a timely manner!

 

 

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