Osaka, long Japan's 'second city,' is winning the race against To...
OSAKA/TOKYO - Osaka, long Japan’s “second city,” is winning the race against Tokyo to draw foreign tourists, but after a boom, its retailers and property developers are adapting to shifting tourism spending patterns.
But tourism is entering a new phase now, where instead of loading up on luxury brands, visitors want to spend more on services like makeup consulting, maternity goods, and other cheaper items. The city’s compact layout and food culture have proven a hit with Asian tourists, and that has created new opportunities for start-ups, social media marketing consultants and foreign property developers.
Tourism spending in the Kansai area, which includes Osaka, Kyoto and Nara, more than tripled to 1.3 trillion yen in fiscal year 2017 from fiscal 2013, adding an average 0.2 percentage point to the Kansai area’s economy for the past three fiscal years, according to a central bank report.The economic benefits are expected to continue, but Osaka’s retailers say tourism spending is slowing.
“The amount purchased per customer is falling, so we are reaching a point where we need to think more about selling experiences instead of selling only goods,” said Tatsuya Inagawa, deputy manager of public and investor relations at Takashimaya’s Osaka store.
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