China Trade Surplus Beats Forecasts in July as Exports Stay Strong 
Oil Prices Slip as Hormuz Shipping Progress and Rising U.S. Crude Stocks Weigh on Market 
Asian Stocks Slide as Semiconductor Selloff Weighs on South Korea and Japan 
US Job Growth Seen Picking Up in July 
US Stock Futures Hold Steady as Iran Hormuz Deal and Earnings Shape Market Sentiment 
Wall Street Ends Mixed as Dow Hits Record Despite Tech Weakness 
Asian Stocks Mixed as Chip Selloff Hits KOSPI, Nikkei Ahead of US Jobs Data 
Australia Trade Surplus Returns in June as Iron Ore, Coal and LNG Exports Surge 
Iran-Oman Near Strait of Hormuz Deal as Shipping Tensions Persist 
Asian Stocks Cautious Ahead of US Jobs Data as Oil Rises 
US Dollar Gains as Iran Tensions, Fed Rate Hike Bets Rise 
Brazil Cuts Selic Rate to 14% as Inflation Eases but Risks Persist 
China Exports Beat July Forecasts as AI Demand Fuels High-Tech Trade 
Philippine GDP Growth Slows to 2.3% in Q2 
Gold Price Hits Seven-Week High as Fed Rate Hike Bets Fade and Hormuz Deal Hopes Grow 
Asian Currencies Steady as Markets Await U.S. Jobs Data 
Gold Prices Steady as Hormuz Tensions Fuel Fed Rate Concerns 
Japan achieved a new monthly visitor record in June, with 3.14 million foreign visitors, driven by the weak yen. This surge positions tourism as a critical economic driver, with expectations of surpassing pre-pandemic highs.
Japan Breaks Monthly Visitor Record with 3.14 Million in June, Driven by Weak Yen and Economic Boost
According to a Reuters report, official data revealed that Japan achieved a new monthly visitor record in June, as the weak yen fueled a tourism surge that is now a critical economic driver.
The Japan National Tourism Organization (JNTO) reported that the number of foreign visitors for business and leisure surpassed the previous monthly record set in March and rose from 3.04 million in May to 3.14 million last month.
Also, the 17.78 million travelers through June set a record for a half-year period. They are on track to surpass the annual high of 31.9 million in 2019, set before the COVID-19 pandemic, which closed global borders.
Prime Minister Fumio Kishida stated on July 19 that the government must prevent "overtourism," as visitor spending is anticipated to exceed 8 trillion yen ($50 billion) this year. The tourism industry is on the brink of becoming Japan's second-largest export sector, following automobiles and rising above electronic components.
Yen's 38-Year Low Boosts Japan's Tourism, Setting New Records and Raising Overtourism Concerns
Japan has become an irresistible bargain for overseas travelers due to the yen's decline to a 38-year low against the dollar. Travelers from 18 regions established new milestones for June arrivals in 18 23 markets monitored by the JNTO. Visitors from the United States and Taiwan achieved the most significant monthly totals.
"The weak yen has undoubtedly boosted Japan's appeal, encouraging spontaneous travel plans," said Naomi Mano, president of high-end travel agency Luxurique. "We are also witnessing a more diverse mix of countries visiting Japan, a notable shift from 2019 when approximately 30% of travellers were Chinese."
Although traveler spending has benefited the economy, many individuals at visitor hotspots have caused dissatisfaction among locals and prompted apprehension among policymakers.
For the first time this month, officials on Japan's sacrosanct Mt. Fuji implemented admission fees and hiker limits due to the increased littering and crowded trails.
Last month, the mayor of Himeji, a city in western Japan, proposed charging foreigners approximately six times the rate residents pay to access the city's renowned samurai-era castle.
