Japan’s ‘golden week’ loses lustre amid soaring hotel prices, inflation
Domestic travellers are less eager to pack their bags as the country feels the pain of rising prices for everything from rice to electricity
Traditionally, golden week – which includes three consecutive public holidays – gives Japanese workers one of their longest breaks in the year, with many taking the opportunity to see other parts of Japan or to travel abroad.
But this year consumers in the world’s fourth-largest economy are feeling the pain of rising prices for everything from cabbage and rice to electricity bills.
The Japanese yen has lost around a third of its value since 2022, one factor behind the record number of foreign tourists also lured by the country’s numerous attractions from Mount Fuji’s majestic slopes to shrines and sushi bars.
The inflow of tourists has sent demand for hotel bookings spiralling upwards, with the room rate in Japan’s five major cities around 16 per cent more expensive at the onset of this year’s golden week than last year, according to a survey from Nikkei business daily.
All this has translated into a tepid desire among Japanese residents to travel for this year’s golden week, surveys have shown. The latter part of the holiday period began on Saturday and lasts until Tuesday.