This translation has been automatically generated and has not been verified for accuracy.Japan’s surplus in spending by overseas travellers declined in July from a year earlier as the number of visitors from South Korea tumbled, a sign the souring bilateral relations are taking a toll on the world’s third largest economy.
Such a drop is “certainly a factor” in the travel services account, a finance ministry official said. “We are monitoring developments.” The drop in South Korean tourists is a blow to Prime Minister Shinzo Abe’s plan to make inbound tourism a pillar of Japan’s economic growth, and comes at a time the export-reliant recovery is hit by slowing global demand and the Sino-U.S. trade war.
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