TOKYO : Japan's service sector activity rebounded in December thanks to a boom in international and domestic tourism as COVID curbs were relaxed, a business survey showed on Friday.
The recovery was supported by an increasing number of international tourists as well as a discount campaign for domestic travellers, according to Laura Denman, economist at S&P Global Market Intelligence, which compiled the survey. Companies also benefited from the October start of the National Travel Discount Programme, a government-funded scheme that subsidises trips within Japan.
"Alongside increasing fuel, electricity and raw material costs, firms reportedly began to feel the effects of October’s upward minimum wage rate revision in December," said Denman.
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