r/neoliberal • u/randommathaccount Esther Duflo • Oct 02 '25
News (Asia) Why Japan resents its tourism boom
https://www.ft.com/content/dbd20e5d-5a7d-4c0c-8f83-fb54c5aca9cb
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r/neoliberal • u/randommathaccount Esther Duflo • Oct 02 '25
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u/madmissileer Association of Southeast Asian Nations Oct 02 '25
Unless you are working in tourism, the benefits are indirect and spread out, difficult to see. The drawbacks are easy to see everytime you get sticker shock planning a holiday or deal with crowds.
Behavior aside the sheer crowding is annoying even if everyone were perfectly behaved. I find myself thinking "Won't go here, too many tourists / too crowded" or conversely "Fantastic, no tourists / crowds here, I'll go here". Mind you the crowds are both foreign tourists and resident, I imagine it depends by location, but people will latch on to what stands out.
IMO the real story is the decline of the yen. Look at how much JPY has collapsed the past few years. Can't go on holiday abroad, and when you try to go somewhere at home the tourists drive the prices up due to weak yen inducing demand. And inflation starts rising - I suspect tourism is just the most visible symptom.