Japan's Ministry of Finance said April travel balance posted a ¥546.5bn, surplus
down 25.2% YoY (1 USD ≈ ¥160). Inbound visitor spending was ¥767.2bn, down 17.9%
YoY; outbound Japanese spending rose to ¥220.8bn, up 8.2% YoY. Japan National
Tourism Organization data showed inbound arrivals fell 5.5% YoY in April, with
sharp declines from mainland China and notable drops from Europe and the Middle
East. Analysts said prolonged fighting in the Middle East has suspended some
international flights and higher oil has raised jet-fuel costs; several carriers
have increased fuel surcharges, which could further curb long-haul travel and
pressure Japan's tourism sector, airlines and related receipts.