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Shinzo Abe & Japan Baby boomers impacts on tourism in Japan from 2012. Abe's macroeconomic policies and the great wealth of Japanese baby boomers have substantially impacted Japanese tourism industry.
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Abenomics: What You Need To Know To win And Lead In Japan
Shinzo Abe & Japan baby boomers impacts on tourism in Japan
Who are the Baby boomers?
Baby boomers are people born during the demographic Post–World War II baby boom between the years 1946 and 1964 according to Wikipedia.
In Japanese context , baby boomers generally refers to those born between 1947 and 1949. In other words people born in the first boom
Japan population by Age and sex
Will tourism become popular in Japan in the near future?
Japan demographic trends & baby boomers
psychographics
Japan macroeconomic policy
Baby boomers incomeAnd wealth(13 trillion Yen)
Tourism revival policy(20 MM by 2020)
Japan monetary policy
More leisure timeAnd increase tourism
More leisiure time andIncrease tourism
As a result in many tourist From SEA and the Middle East
The tourism hasIncrease as a result
Almost ¼ 65 orolder
Baby boomers’Activities, interests
and opinionRelaxation of immigrationProliferation of Low carrier
The Japanese Yen has depreciated 20%
against major currencies
The Olympics 2020
Yes
Forward-looking analysis
1 2 3
Boomers retiring
New company specializing in tours for seniors
60 or older got 22% of financial asset
By 2010 65 or older 13.9 % of Pop
Before boomers retirement
2012 most boomers retired
2013 Abe’s policies
2014
Olympics prep.
Hosting the game will boost tourism
Proliferation of budget carriers
Planning to legalize casinos
Abe’s policy
Beginning of monetary policy
The Yen weakened
Boomers retired with 13T Yen of assets
Abe
Tourism jump started by 36%
Japan is “back campaign”
Japan won the bid to host Olympics
Baby boomers retirement and its impacts on Japan tourism
Fig. 2 Financial Assets, by Householder Age (2005)
18
16
(millions orye'!)_ _ _ _ _ _ _ _ _ _ _ _ _ _ - 17:0- - - - - - - -
- - ts.o - -
14
12
- - - - - - - - - - - - - -
I LS10 - - - - - - -6 4.2
20s 30s 40s 50s 60s70s and
1/5 of Pop is 65 Abe in power Start of 3 arrows Olympics preparation
Boom in tourism
Olympics 2020
Japan macroecon
omics policy
Baby boomers
retirement & wealth
Visa relaxation & yenWeakness to 20%
againstMajor currencies
Japan baby boomers asset
worth 13Trillion Yen & like traveling
Abe’s government is targeting 20 millions
tourists by 2020
In 2010 Japanese 65 or older was 13.9%That is 17,653,000
Japan outbound tourism (1000) 201218,490 201116,994 201016,637
11%
Japan inbound tourism (1000) 201412,560 201310,400 20127,647
63%
Cause and impacts analysis
Age -24 25 - 29 30 - 34 35 - 39 40 - 44 45 - 49 50 - 54 55 - 59 60 - 64 65 - 69 70-
Food 6.0 6.6 7.6 9.0 10.4 I L.I I0.8 10.6 10.0 9.2 8.8
Fumiture & housewares 6.0 9.2 8.0 8.7 8.8 10.4 10.3 11.6 9.7 9.5 7.8
Clothing & footwear 5.1 8.1 8.7 10.0 10.7 12.0 11.8 10.8 9.3 7.7 5.8
Medical care 5.5 8.9 7.9 8.3 8.4 9. 1 9.2 8.9 10.4 10.8 12.7
Housing 12.6 14.3 1 1.2 8.9 6.3 5.5 5.9 6.2 7.8 10.2 11.2
Transport, 6.9 9. 1 9.5 1 1.3 9.9 11.7 1 1.8 10.5 8.4 6.8 4. 1
Education 1.0 3.1 6.5 9.9 18.8 29.9 22.0 6.8 1.2 0.5 0.4
Reading & recreat ion 3.4 7.8 8. 1 I l.5 12. 1 11.9 9.7 9.7 9.5 8.9 7.4
Package tours 1.8 4.3 5.2 7.7 8.5 9.6 7.9 13.4 16.0 16.3 9.5Note: I . Figures show all households With an employed person (excludmg agriculture, forestry and fishenes).2. Sum of each row equals I OOo/oSource: Ministry of internal Affairs and Communicauons (2005)
Addressing the growing travel needs of Japanese baby boomers
Age -24 25 - 29 30 - 34 35 - 39 40 - 44 45 - 49 50 - 54 55 - 59 60 - 64 65 - 69 70-
Food 6.0 6.6 7.6 9.0 10.4 I L.I I0.8 10.6 10.0 9.2 8.8
Fumiture & housewares 6.0 9.2 8.0 8.7 8.8 10.4 10.3 11.6 9.7 9.5 7.8
Clothing & footwear 5.1 8.1 8.7 10.0 10.7 12.0 11.8 10.8 9.3 7.7 5.8
Medical care 5.5 8.9 7.9 8.3 8.4 9. 1 9.2 8.9 10.4 10.8 12.7
Housing 12.6 14.3 1 1.2 8.9 6.3 5.5 5.9 6.2 7.8 10.2 11.2
Transport, 6.9 9. 1 9.5 1 1.3 9.9 11.7 1 1.8 10.5 8.4 6.8 4. 1
Education 1.0 3.1 6.5 9.9 18.8 29.9 22.0 6.8 1.2 0.5 0.4
Reading & recreat ion 3.4 7.8 8. 1 I l.5 12. 1 11.9 9.7 9.7 9.5 8.9 7.4
Package tours 1.8 4.3 5.2 7.7 8.5 9.6 7.9 13.4 16.0 16.3 9.5Note: I . Figures show all households With an employed person (excludmg agriculture, forestry and fishenes).2. Sum of each row equals I OOo/oSource: Ministry of internal Affairs and Communicauons (2005)
Fig. 8 Public- and Private-Sector Measures to Address Boomer Travel Needs
Organization Measures
Japan Travel BureauKinki Nippon Tourist Co., Ltd. Nippon Travel Agency Hokkaido East Japan Railway CompanyAll Nippon AirwaysAomori Prefecture Kagawa Prefecture Mivazak i Prefecture
New company specializing in tours for senior citizensTours focused on health themes Tours to hot springsTravel-program membership systemI nvestment in Pasona Group company to develop travel products Seminars/workshops, and "experience countryside living" opportunities Working with travel agencies to develop travel productsProjects to encourage people to move to Miyazaki countryside
Internal & inbound tourism growth
Japan internal policies
What type of data do you Need?
I need data from: Government sources like the
ministry of internal affair, trade organization, census bureau
Think tank like OECD, IMF, World Bank
Market research and management consultant like Euromonitor, Dealogic, Mckinsey, BCG and Bain
News channels like Bloomberg, the Wallstreet journal, Japan Times, Financial Times and the Economist
Qualitative & Quantitative data
Implication to my
research
To avoid the pitfalls of data bias, experience suggest:• Search from
authoritative sources
• Be sure of the credibility & integrity of the source
• Hence have good output to make sound decisions
Source of data & information Best Practices
Reference
Slide 2
• https://www.jetro.go.jp/en/reports/market/pdf/2006_18_u.pdf• http://www.mlit.go.jp/common/000991725.pdf• http://www.powderlife.com/blog/japanese-baby-boomers-come-to-the-rescue/• http://www.keepeek.com/Digital-Asset-Management/oecd/industry-and-services/te
ndances-et-politiques-du-tourisme-de-l-ocde-2014/japon_tour-2014-25-fr#page6
Slide and • https://uk.news.yahoo.com/abes-grand-plan-revive-japans-economic-might-113525
026--finance.html?.tsrc=lgwn#LIV7OG7• http://www.csmonitor.com/World/Asia-Pacific/2013/0523/Japan-s-weak-currency-m
eans-tourism• http://ajw.asahi.com/article/behind_news/social_affairs/AJ201401180044• http://www.jnto.go.jp/eng/• http://export.gov/japan/doingbusinessinjapan/traveltourism/index.asp
Slide 2
3 4
References