Steep Plunge in Korean Tourism Would Slash Japan's Growth

  • By Shin Su-ji

    August 14, 2019 11:28

    An 80 percent drop of Korean tourism would slash Japan's economic growth by 0.1 percentage point, according to one forecast.

    The Hyundai Research Institute forecast in a report Tuesday that the number of Koreans visiting Japan in 2020 will decline 81.2 percent.

    "Korean public sentiment toward Japan has worsened sharply, resulting in a very high cancellation rate for trips to Japan. The assumption is plausible considering the 75.1-percent drop in the number of Chinese visitors to Korea after China's unofficial boycott over the U.S.' deployment of a Terminal High Altitude-Area Defense battery in Korea."

    The result would mean a drop in Japan's growth rate of 0.1 percentage point next year, it added.

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