From 2013 to 2023, Japan's inbound tourism consumption of accommodation services has shown a generally upward trend, peaking at 1370.0 billion Japanese Yens in 2023. The year-on-year variation highlights growth spurts such as 2015's 29.89% and 2021's 68.28%, and significant drops like 2020's -41.17% due to the pandemic. Over the last five years, the compound annual growth rate (CAGR) stood at 4.74%, reflecting consistent growth.
Future trends indicate a continued increase, with forecasts suggesting growth from 1420.0 billion Japanese Yens in 2024 to 1650.0 billion Japanese Yens in 2028, resulting in a forecasted 5-year CAGR of 3% and an overall growth rate of 15.91%. Key trends to watch include the impact of global travel norms post-pandemic, digital transformation in travel services, and Japan’s marketing strategies to attract diverse tourist demographics.
