Japan’s cherry blossom economic boost down by more than 70% in 2021
“Hanami”, Japan’s annual cherry blossom viewing tradition, traditionally boosts the country’s economy nationwide but this year the coronavirus pandemic could slash the boost 75% in relation to 2018.
According to a report released in March by Katsuhiro Miyamoto, professor of international economics at Kansai University, the positive effect from “flower viewing” which incorporates events, festivals, and people picnicking under the trees to enjoy the blossoms spectacle, will be about 158.2 billion yen ($1.45 billion). This estimate marks a decrease of about 493.5 billion yen ($4.54 billion) from pre-pandemic 2018. The professor says that large crowds could flood the famous “hanami” spots, but he expects a nationwide “mood of self-restraint” in spending that could cause a drop in consumption at eateries and souvenir shops.
The study estimates that roughly 35.59 million people, approximately 36% of Japanese residents will partake in the tradition and will spend about 71.18 billion yen ($655 million) on food, drink, and transportation. The total expenditure by foreign residents is estimated at around 2.08 billion yen ($19 million). The final total figure of 158.2 billion yen was reached after the “national input-output table” published by the Cabinet Office was also taken into consideration.
Miyamoto commented, “This year’s cherry blossom viewing is likely to draw crowds that do not stop to eat or drink,” and added, “It is truly sad that hanami, which has long been a pleasure for many Japanese people, has ended up in this kind of situation.”
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