Japan’s Outbound Tourism Market to Surpass a Valuation of US$ 98,187 Million by 2032 on the Back of Rising Popularity Leisure Travel – Future Market Insights, Inc.

NEWARK, DE / ACCESSWIRE / January 25, 2023 / According to Future Market Insights, Inc. the Japan outbound tourism market is estimated to reach US$ 32,584 Million in 2022. As per FMI's report, sales are likely to increase at a robust 11.7% CAGR between 2022 and 2032, with the market valuation reaching US$ 98,187 Million by 2032.

Growing popularity of leisure travel, increasing number of Japanese people looking for medical treatments in countries like the U.S. and China, and favourable government support are some of the key factors driving Japan's outbound tourism market.

A record 20.1 million Japanese citizens travelled abroad in 2019. With an 18.7% market share, the United States was one of the most popular travel destinations for Japanese tourists. The second-largest source of foreign tourists to the United States was Japan, with 3.8 million visitors spending $12.9 billion there.

In Japan, there are three major holiday seasons: Golden Week, Obon, and the last week of the year through New Year's week. At the end of April or the beginning of May is Golden Week, a period when many people choose to travel overseas. These public holidays are sometimes extended by tourists into five- to nine-day vacations.

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Around August 15, the Obon holiday falls during the summer break for Japanese schools. As a result, August is the busiest travel month in Japan. Finally, the final week of December through the first week of January, the New Year holiday, is a popular time for overseas travel because many Japanese businesses and organisations close their doors. All of these holidays offer fantastic chances for the American travel industry to draw Japanese tourists.

Similarly, increasing penetration of digitalization and fast internet coupled with growing influence of social media is expected to boost the outbound tourism market in Japan during the next ten years.

"Government of Japan is making sincere efforts to uplift the country's outbound tourism market. This is expected to generate lucrative growth prospects for leading outbound tourism companies," says a lead FMI analyst.

Key Takeaways:

• The outbound tourism market size in Japan is expected to grow at 11.7% CAGR through 2032.
• By booking channel, the online booking segment is anticipated to hold a noteworthy share of nearly ~75%.
• In terms of age group, the 36-45 years' segment will continue gaining traction through 2032.
• The U.S. remains the most preferred outbound tourism destination for Japanese tourists.

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Who is Winning?

Leading players in Japan's outbound tourism market are One Life Adventures, On the Go tours, Supera Tours, Bamba, Europamundo, Agate Travel, Learning Journeys, INTRO Travel, Trafalgar, Stunning Tours, The Dragon Trip, Interpid Travel, Expedia, Trip Advisor, Explore, G Adventures, and World Expeditions among others.

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Future Market Insights, in its new offering, provides an unbiased analysis of the Japan Outbound Tourism Market, presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032.

The study divulges compelling insights on the Japan Outbound Tourism Market By Purpose Type (Business, Leisure, VFR & Others), Booking Channel (Phone Booking, Online Booking & In Person Booking), Tour Type (Independent Traveller, Package Traveller and Tour Group), Age Group (15-25 Years, 26-35 Years, 36-45 Years, 46-55 Years, 56-65 years, 66-75 Years)- Forecast to 2017 - 2032.

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Table of Content

1. Executive Summary
1.1. Global Market Outlook
1.1.1. Who Is Travelling?
1.1.2. How Much Do They Spend?
1.1.3. Direct Contribution of Tourism To GDP
1.1.4. Direct Contribution of Tourism To Employment
1.2. Tourism Evolution Analysis
1.3. FMI Analysis and Recommendations

2. Market Introduction
2.1. Total Spending (US$ Mn) and Forecast (2022-2032)
2.2. Number of Travelers (Mn) and Forecast (2022-2032)
2.3. Total Spending Y-o-Y Growth Projections (2022-2032)
2.4. Number of Travelers Y-o-Y Growth Projections

3. Global Tourism Industry Analysis
3.1. Tourism Industry Overview
3.1.1. Travel & Tourism Industry Contribution To Global GDP
3.1.1.1. Business Spending v/s Leisure Spending
3.1.1.2. Domestic v/s Foreign
3.1.1.3. Direct, Indirect, and Induced
3.1.2. Travel Sector Contribution To Global Overall Employment
3.1.3. Travel & Tourism Growth Rate

Read More TOC.

Explore Wide-Ranging Coverage of FMI's of Travel and Tourism Market Insights

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U.S. Outbound Tourism Market Analysis: U.S. outbound tourism market is estimated at US$ 101,697.0 Mn in 2022 and is projected to reach US$ 458,986.8 Mn by 2032

Russia Outbound Tourism Market Forecast: The Russia outbound tourism market is estimated to reach US$ 27,101 Mn in 2022.

Outbound Medical Tourism Market Trend: The outbound medical tourism market is estimated to reach US$ 197.5 Billion in 2022

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SOURCE: Future Market Insights, Inc.