Summer Vacation Spending in Japan at Record LowEconomy
A questionnaire on summer vacation spending published by Meiji Yasuda Life Insurance Company found that the average Japanese household budget for summer vacation in 2021 decreased year on year by more than ¥10,000 to ¥53,807, the lowest amount since the survey began in 2006.
The online survey, conducted between June 21 and 25, received a total of 1,120 valid responses from men and women between the age of 20 and 59.
The previous low for average summer vacation spending per household was ¥65,157 last year. When asked about total expenditures for summer vacation this year, 38.7% of the respondents said that they planned to reduce spending, while just 3.8% intended to increase spending. Meanwhile, 57.5% said that their spending would be on par with the previous year.
The most common reason for reducing summer vacation spending, according to a survey question allowing multiple answers, was due to a lack of spending opportunities because of the need to refrain from leaving the home without good reason, mentioned by 68.4% of the respondents. This was followed by the 27.9% who gave reduced income as the reason and 25.4% who were saving money rather than spending out of concerns for the future. When asked how they would use their summer bonus, 73.1% of the respondents said they intended to save it.
Reasons for Decreased Summer Vacation Spending
|Reduced opportunities to spend as should refrain from leaving home without good reason||68.4%|
|Prefer to save rather than spend because of concerns about the future||25.4%|
|Reduced bonus (including predictions before bonus is set)||12.2%|
|No opportunity to spend due to lack of vacation||8.1%|
|Plan to spend money at a time other than summer vacation||7.4%|
Created by Nippon.com based on data from Meiji Yasuda Life Insurance Company.
In a multiple-answer question regarding how they planned to spend their summer vacation, the overwhelming majority of respondents, at 73.4%, said that they would “relax at home.” Other common answers included “returning to hometown” (10.4%), “outdoor activities” (10.4%), “travel within Japan” (9.3%), “watching sports at home (not including the Olympics)” (7.5%), “leisure activities such as swimming or visiting an amusement or theme park” (5.9%), and “studying” (5.9%).
(Translated from Japanese. Banner photo © Pixta.)