Don’t Follow the Herd. Build Stability in a Volatile Market.
1. Introduction: The Gap Between Data and Reality
If you look solely at the headlines this week, you might think Japan’s inbound tourism is cooling down. Recent government data shows a sharp deceleration in the growth rate of Chinese visitors to Japan—dropping to a mere 3.0% increase in November. Hotels are reporting cancellations, and department stores are seeing a dip in tax-free sales.
Economists are already warning about the economic risks of “single-market dependency.”