Over 40% of Japanese citizens reportedly have no plans for the Golden Week holiday period, according to the recent survey. The noticeable shift in behavior is largely attributed to the rising cost of living and increased inflation in Japan. With consumer prices escalating, more people are choosing to spend the holiday period at home, putting leisure activities and travel on hold.
Golden Week is one of the busiest holiday seasons in Japan, where people typically travel or participate in recreational activities. However, rising inflation and stagnant wages are applying financial pressure on households, causing people to adjust their plans. The situation not only reflects the economic circumstances but also a shift in societal values as Japanese citizens prioritize financial stability over leisure activities.
In the US or EU, economic inflation also impacts consumer behavior, often leading to reduced holiday spending and increased saving. However, the impact can be different due to various social safety nets, flexible credit systems, and overall higher wages.