HUGE Japan Tourism Update: Japan Inflation SKYROCKETS to 40 Year HIGH | What To KNOW!
Japan Inflation has hit a 40 Year High! This is not a good thing at all, despite the weak Yen against the United States Dollar. In order to understand why, watch my entire video on how much this will impact your trip to Japan. There is a lot to learn so you can properly prepare. What seems like small percentages can quickly turn into a more than expensive trip than expected. I hope you find this video interesting!
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1) Tokyo Japan
2) Japan Inflation
3) Japan Travel Update
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14 Comments
* Earning money is an action. Keeping money is behavior, but "Growing money is wisdom," I found out a week ago.*
Dang this was exactly what I needed! Your theoretical budget was exactly what I was thinking
It so bad they have to add actual moss to the Mos Burgers. Was there are lot people parting when Japan beat Germany they said was pretty big deal on the news ?
Excellent video and topic Alex , a real eye opener !
Meh. Ten percent inflation is occurring all around the world. If you don't spend the money in Japan, you'll spend it at home. The yen depreciated against the dollar by 27% (110 yen/USD -> 140 yen/USD). At least Americans still come out ahead. PLUS, Japan hasn't had inflation for over 20 years while the US has consistently been over 2% annually. Aside from the air fare, Japan is cheap.
Great video. Ive already got most my accomodation booked for my September trip, mostly to make sure it wasnt fully booked. Only accomodation i havent got booked yet is my disneyland hotels, which can only be booked upto 3 months in advance, and im expecting those to be chapter 11 inducing
Itβs funny how in this analysis you blame the Russ/Ukr war but NOT the co/vid policies that caused economic dampening. No hun, the reason for this inflation stems due to the lockdown measures in the first place. While cutting ties with Russ was a choice too, the bigger factor are the chokeholds western countries placed over the Coof. Europe is also seeing a 30-40% decline in their currencies. Leftist policies are garbage
It could push even higher when tourism increases demand. I'd imagine they could run into the same supply chain issues that America faced over a year ago.
… although most of their tourists were from China and I'm not sure if China is still on lockdown.
It might get more expensive than the current extreme low prices, but is still cheaper than pre-pandemic levels due to the weak yen (except flights due to the war and recent opening).
e.g. Business Hotel:
2019 I paid about 80$ for a night
2022 (oct) I paid 50$, so even if prices would hike 50%, it would still be cheaper than pre-pandemic with ~75$
Note: Airbnb stayed at around the same price as pre-pandemic, I assume the price on the platform is locked-in in $ prices. be aware of it when booking
or for the sushi example, pre-pandemic 100 Yen were around ~85-90 cents, currently the 120 Yen are around ~87 cents.
However this from the viewpoint of more stable currencies like USD or CHF, but might be a complete different story for other currency which also suffers inflation or other devaluations.
Also it's based on interexchange rates, so make sure you change your currency to JPY somewhere you get ForEx rates, not banking or currency exchange rates (you lose ~3-8% that way).
Also be careful when buying an JR pass, some travel agencies still use 2019 rates to calculate their JR pass price and are making a huge profit.
Interesting
Here in Korea
I haven't felt the inflation as much until i bought a Playstation 5 and a new gopro that i noticed the increase
And obviously when i want to send my money to USA (forget about it lol)
Greetings from korea π°π· π β€οΈ
If Japan had stayed open to tourists during Covid years, the Yen wouldn't have fallen even with the Ukraine-Russia situation. Tourists will exchange their currencies to Yen, causing the Yen to be in constant demand (more so since in Japan, cash is king). Tourists would have brought in fresh "investment" money which would have added billions to Japan's pockets to buy more energy etc…
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Should I go in the end of April ? Or just wait it out
What japan is currently doing is, they're trying to Curve yen or at least stall it. My assumption when i first heard of it was that they wanted to fix the inflation issue. Which I said, "that's unrealistic", since inflation was hitting every country before the ukraine. And with Current economics, it takes time to fix inflation. Digging around some aspects of Japan's agriculture, it seems they've charge more for imported food like rice. The lowest i've seen the yen was at Yen to USD was at 150. With the latest jump 128-130 as of today.
Honestly, I would take it with a grain of salt and still be frugal with your money