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According to the World Travel & Tourism Council’s (WTTC) 2023 Economic Impact Research (EIR), Japan’s Travel and tourism sector is poised to make a substantial contribution to the country’s GDP, estimated at USD 285.5 billion (JPY 37.6 trillion) for the current year.
Despite the lingering effects of the pandemic, the sector is forecasted to be just 6.8 per cent below its pre-pandemic high of USD 306.5 billion (JPY 40.3 trillion) in 2019. This growth is also expected to create approximately 470,000 jobs in the sector, bringing the total workforce in the industry to nearly 5.6 million individuals, highlighting the significance of Travel and tourism in the Japanese economy. Hotels in Osaka, Japan play a significant role in creating jobs within the city, with properties such as Travelodge Honmachi Osaka bringing in significant revenue by providing convenient, comfortable stays.
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