TOKYO — American tourists headed for Japan have surged in 2024, lured by a slump in the value of the yen, which is also driving a massive jump in foreign investor interest in the country's lodgings market.

The number of Americans arriving in Japan by air crossed more than 900,000 in the first five months of 2024, climbing 17.4 per cent year on year and vaulting 35.5 per cent from 2019 before the Covid-19 pandemic, the International Trade Administration data showed.

While pent-up travel demand since the end of the pandemic has also contributed, the Japanese currency's recent plunge to a 38-year low to the US dollar, with US$1 worth around 161 yen, has been a key factor, as it boosts the spending power of American tourists.

Since the end of the pandemic, demand has been booming across the Asia-Pacific, drawing in travellers from China, as well as long-haul visitors from North America with more Americans opting to travel internationally.

"The weakened yen compared with the US dollar makes the entire travel experience more affordable for American tourists," said Tim Hentschel, chief executive of travel bookings platform HotelPlanner.

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