Japan's Golden Week consumption outlook is sluggish: inflation and a weak yen suppress travel willingness

(1) The long holiday in Japan from late April to early May is usually a peak period for consumption, but under the ongoing impact of inflation, this year's outlook is not optimistic. (2) According to research company Intage, about 41% of respondents have no plans for the upcoming Golden Week, an increase of 4.7 percentage points compared to last year; the average holiday budget has also dropped by 5.4% to 27,660 yen. (3) Due to the weak yen pushing up the cost of overseas travel and Middle East conflicts raising safety concerns, only 1% of respondents plan to travel abroad during the holiday.