Marui department store in Fukuoka, Japan/Newsimpact
[Fukuoka, Japan/Newsimpact=Jinwoo Choi] The Japanese yen is experiencing a sharp decline, reaching its lowest level in 8 years, with the exchange rate approaching 900 won per 100 yen. As a result, there has been a significant increase in Korean tourists traveling to Japan. Some individuals are even accumulating yen, aiming to take advantage of the exchange rate for potential profits. News Impact visited Japan to investigate the effects of this yen phenomenon, which has reemerged after 8 years.
With the rapid depreciation of the Japanese yen, there has been a substantial surge in demand for travel to Japan. Travel agencies have been inundated with inquiries about trips to Japan, and people are queuing up to make travel reservations through various websites.
On the June 16th, I embarked on a trip to Japan to directly experience the yen phenomenon. Despite it being a Friday, Incheon International Airport was bustling with people intending to travel to Japan over the weekend. The low-cost carrier counters were particularly crowded, and currently, airfares to Japan are in the 400,000 won range for Tokyo, a popular destination for Korean tourists, and in the 200,000 won range for Fukuoka. In some regions, airfares have dropped to the late 100,000 won range.
After passing through the departure immigration checkpoint, the duty-free section of the departure area was also crowded. Since the Korean won has significantly appreciated against the dollar and the euro, improving the exchange rate, there has been a general increase in outbound travelers. The sharp increase in Korean tourists to Japan is considered the primary factor.
Upon arriving at Fukuoka Airport after a short flight, I noticed long queues of people waiting for immigration clearance. The majority of them appeared to be Korean tourists. The number of people visiting Japan has significantly increased to the point that passing through immigration took over two hours.
I finally managed to leave the airport and headed towards the hotel. Although many people in Japan now use Uber taxis, I regretted not taking a regular taxi instead because regular taxis were abundant, whereas Uber taxis were not readily available.
After waiting for a considerable time, I finally took an Uber taxi and arrived at a downtown hotel. The check-in lines at the hotel were incredibly long as well. It seemed that others had also made reservations through hotel booking sites. Currently, it is easy to find a room in downtown Fukuoka for around 100,000 won when booking through platforms like Hotels.com or Agoda. There are even cheaper options available, but for a reasonable price, 100,000 won seemed sufficient, so I made a reservation near Hakata Station.
After an hour of waiting, I was assigned a room and unpacked at the hotel. I quickly headed out into the city. Fukuoka is renowned for its abundance of food options. Japanese restauratn, Izakaya establishments, known for their delicious cuisine, were scattered throughout the city and most were packed with people.
I visited several Izakaya near Hakata Station, but whenever I asked if there were any available seats, the response was always the same: 'manseki'(which means that they were fully occupied), and they couldn't accommodate any more customers. They suggested making a reservation and returning in at least two hours.
Feeling hungry and unable to wait any longer, I headed to the underground food court of the nearby Hakata Marui department store. I had high expectations since there were many food options available, and I assumed I wouldn't have to wait for a long time. However, it was also crowded, and most stores had a minimum waiting time of 2-3 parties.
After a long wait, a seat became available at a curry restaurant, and I quickly satisfied my hunger. As I explored the city, I noticed Korean conversations could be heard in various places. Although it was difficult to ascertain the exact number, after visiting several locations in downtown Fukuoka, it felt like more than half of the tourists were Koreans.
According to data from the Japan Tourism Agency, the number of foreign tourists entering Japan in March increased by 66% compared to the same period last year. It is anticipated that there will be an even greater surge in statistics when the latest figures are released.
The Japanese government is making fervent efforts to attract tourists. On the 30th of last month, Prime Minister Kishida Fumio presided over the 20th Tourism and Immigration Promotion Official Meeting, where they finalized the "New Era Inbound Activation Action Plan." This plan is a follow-up to the "Basic Plan for Tourism and Immigration Promotion" (2023-2025) established in March, which aimed to achieve 32 million foreign tourists and 5 trillion yen in total inbound travel spending by 2025, as part of the goal to reach 60 million foreign tourists by 2030, which was set before the outbreak of the COVID-19 pandemic.
With the end of the pandemic, Japan actively seeks to welcome tourists and utilize tourism to invigorate its economy, demonstrating ambitious plans.
/Jinwoo Choi is a specialist reporter of Newsimpact
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