Global Travel & Tourism Summit to Focus on Japan Recovery

Global Travel & Tourism Summit to Focus on Japan Recovery

The impact of the recent earthquake and tsunami in Japan and measures that need to be taken throughout the travel and tourism industry to ensure a speedy recovery will be discussed by industry leaders during the closing session of the 11th Global Travel & Tourism Summit in Las Vegas on Thursday, May 19.

Japan received 8.7 million overseas visitors and more than 16 million Japanese people travelled overseas in 2010, according to the Japan National Tourism Organization (JNTO). Total tourism expenditure (including overseas and domestic visitors) was JPY 13 billion. The JTB Corp had expected this growth to continue in 2011.

However, following the earthquake and tsunami that struck on March 11, there were sharp falls in international tourist arrivals, with potential visitors from all countries reluctant to visit, according to JNTO. In addition to this drop in visitors to Japan, the JNTO has reported that resident departures from Japan fell by 18 percent in March over 2010, representing a decline of 280,000 trips from 1.56 million to 1.28 million.

Early estimates of damage suggest costs could be up to $300 billion or around 6 percent of Japanese GDP, according to recent figures from the Japanese Economy Ministry (compared with $100 billion for the Kobe earthquake in 1995). A high-level delegation of senior Japanese business leaders will come together in Las Vegas on May 19 to describe first-hand what the events of have meant for the country, its people and the travel and tourism industry.

The concluding summit session in Las Vegas will address the twin themes of rebuilding infrastructure and confidence -- what challenges lie ahead in reconstruction and how can the country reassure the world consumers that Japan is fully open for business in order to kick-start the recovery in inbound, domestic and outbound travel and tourism.

Speakers on this important panel include Atsutoshi Nishida, chairman, Toshiba (chairman, Tokyo 2012 Host Committee); Mutsutake Otsuka, chairman, East Japan Railway Company (vice chairman, Tokyo 2012 Host Committee); and David Scowsill, president and CEO, WTTC.