As Japan’s yen peaks, is the era of budget-friendly trips coming to an end for Australian travellers?
The currency has now reached its highest level against the US and Australian dollars in six months Get our breaking news email , free app or daily news podcast In the unpredictable world of global currency markets, there has been one safe bet: that the Japanese yen would continue its relentless decline. In recent weeks, that trade has started to unravel after Tokyo and Washington intervened to…
Tokyo's yen has surged to its highest level in six months against the US and Australian dollars, igniting speculation over whether Japan's budget-friendly appeal for Australian travellers is waning. The Japanese government and the US recently intervened to prevent a further depreciation, which has driven up the cost of living in Japan.
As a result, the Australian dollar has gained over 30% against the yen since the pandemic, making Japan more expensive for visitors. Once a popular destination, Japan now faces stiff competition from other Asian nations such as Vietnam and China, which offer more affordable travel experiences. While the yen's strength may not prompt a sudden shift in Australian travel habits, it could eventually open up new opportunities for other Asian destinations to attract tourists away from Japan.
Written by urgent.news from The Guardian Australia's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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