Japan’s stock market is only now waking up to potential gains from record numbers of big-spending tourists.
A growing number of companies, including a seller of vintage goods and a budget hotel chain, are poised for a strong 2025 as increased demand from foreigners boosts earnings outlooks. Japan welcomed almost 37 million inbound visitors in 2024, data released last week by the Japan National Tourism Organization showed. That’s almost a third of the country’s population.
Those numbers are set to increase to 40.2 million this year, driven by the weak yen and the World Expo 2025 in Osaka, travel agency JTB predicts. As equity markets brace for an uncertain year under the Trump presidency, Japan tourism-related stocks appear to be a pretty safe bet.