Japan’s outbound tourism market continued its recovery throughout 2024, supported by steady growth in both traveler volumes and travel-related spending. Monthly indicators show that Japanese residents are increasingly traveling overseas, while Travel Expenditure per Traveler (TEPT) – defined as the average amount of overseas travel expenditure incurred by an outbound traveler – has strengthened markedly, particularly heading into 2025. As a statistical measure, TEPT captures individual overseas travel consumption excluding international air transportation costs, regardless of whether trips are arranged independently or through package tours. The simultaneous rise in outbound demand and per-traveler spending underscores a solid rebound in Japan’s tourism economy.
In early 2024, outbound travel expenditure remained relatively subdued. TEPT recorded mild year-on-year declines between January and March, with January averaging ¥123,584 per traveler (-5.26% YoY), followed by only modest month-to-month changes in February and March. Despite this cautious spending behavior, outbound traveler numbers increased sharply – from 838,581 in January to over 1.2 million in March – indicating strong travel appetite even as households remained disciplined in discretionary, non-transport travel spending.
From April 2024 onward, the recovery became more pronounced. TEPT turned positive on a year-on-year basis and entered a stable upward trajectory, supported by improved airline capacity, sustained demand for nearby Asian destinations, and rising consumer confidence. During the Golden Week period, TEPT rose sharply by 5.39% month-on-month, reflecting stronger on-the-ground travel spending even as total outbound traveler numbers temporarily softened. Through the summer and into early autumn, TEPT stabilized within a relatively narrow band of ¥129,000~130,500, while outbound travelers peaked at 1.44 million in August, driven by Obon holiday travel.
The latter part of 2024 was characterized by spending normalization and steady outbound demand. Between September and December, TEPT remained firmly anchored around ¥129,000–¥130,000, alongside consistently high monthly traveler counts exceeding 1.14 million. This pattern suggests that Japan’s outbound tourism market had largely completed its post-pandemic normalization by year-end.
A notable structural shift emerged in 2025. In April, TEPT surged to ¥173,221, representing a 35% month-on-month increase and a 33.5% year-on-year jump, the strongest growth observed since the pandemic. This sharp rise likely reflects a combination of factors, including increased participation in long-distance travel, a higher share of upper-income travelers, and improved currency conditions that lowered effective overseas purchasing costs. Importantly, outbound traveler volumes remained robust, indicating that the rise in TEPT was broad-based rather than confined to a narrow luxury segment.
By June 2025, TEPT climbed further to ¥178,764 (+37% YoY) while outbound travelers exceeded 1.05 million, confirming a sustained shift toward higher-value international travel. For destination economies – particularly in Southeast Asia, Europe, and the United States – the strengthening spending profile of Japanese travelers is expected to support tourism revenue growth through 2025. At the same time, Japan’s domestic tourism sector may face increasing competition as residents allocate larger portions of their travel budgets to overseas trips.
Overall, the data indicate that Japan has entered a high-spending recovery phase. Following a year of gradual stabilization in 2024, outbound travel expenditure per traveler is now accelerating sharply in 2025, signaling strong momentum not only for Japan’s outbound market but also for the global tourism economy.
