The forecasted values for domestic tourism consumption of accommodation services in Japan indicate a slight but consistent decline from 2024 to 2028, dropping from 3.54 trillion Japanese yen in 2024 to 3.50 trillion Japanese yen by 2028. Compared to 2023, where the value stood at 3.56 trillion Japanese yen, this trend reflects a year-on-year decrease of 0.56% in 2024, followed by consistent declines in subsequent years. The Compound Annual Growth Rate (CAGR) from 2024 to 2028 is projected at approximately -0.28%.
Future trends to watch for include shifts in consumer preferences towards alternative accommodations such as Airbnb or vacation rentals, potential impacts from economic conditions or policies, and the influence of technological advancements and digital platforms on the hospitality industry. Monitoring these factors will be crucial to understanding and adapting to changes in domestic tourism consumption patterns.
