Household Summer Holiday Budget Hits Low in Japan
Tokyo, Aug. 3 (Jiji Press)--The average summer holiday budget for Japanese households this year stood at 53,807 yen, the lowest since records began in 2006, a survey by Meiji Yasuda Life Insurance Co. showed Tuesday.
The average amount slated to be spent during summer break dropped due to the prolonged novel coronavirus crisis, falling over 10,000 yen from the previous low of 65,157 yen marked last year.
Around 40 pct of all households surveyed said that they will reduce their summer holiday expenditures from last year.
Of them, 68.4 pct said that the trend to stay home to avoid infections was behind the drop in spending, as they had no place to spend money.
Meanwhile, 27.9 pct attributed the reduced spending to a drop in income and 25.4 pct said that spending went down so that they can save money amid uncertainties for the future.
[Copyright The Jiji Press, Ltd.]