Opinión | Creating Resilience
Japan ViewPoint - Domestic demand set to drive Japan‘s retail and hotel market recovery
30 sep. 2021
- Despite rapid growth in inbound demand in recent years driven by a sharp increase in overseas visitors, Japan’s retail and hotel markets remain overwhelmingly driven by domestic demand.
- Therefore, while a recovery in inbound tourism is still some time away, Japan can be said to have rapid recovery potential, should domestic demand return.
- CBRE believes the return of domestic demand is imminent, with pent-up demand steadily accumulating due to restrained consumption and various benefits and incentives provided by the government.
- This demand is likely to materialise in the form of consumption for higher-end goods and services, trends that auger well for Japan’s retail and hotel sectors, especially the higher-end segments.