[Click eStock] "JTC Benefits from Increase in Bangil Tourists"

Research Alume analyzed on the 7th that JTC's performance is expected to improve as the number of tourists visiting Japan increases.

Moon Juseong, a researcher at Research Alume, explained, "Japan allowed visa-free entry in October last year and lifted temporary border control measures starting in May this year," adding, "The number of travelers within Japan is increasing, mainly among tourists from Korea and Southeast Asia."

He continued, "The total number of tourists visiting Japan is expected to increase by 526.6%, from 3.83 million last year to 24 million this year," and added, "The approval of group tours from China on August 10 is also a positive factor."

Researcher Moon analyzed, "Japan has a well-developed duty refund system," explaining, "This is because of the low customs duty (5%) compared to the high consumption tax rate (10%) and the ability to immediately receive products at duty-free shops upon purchase." He also emphasized, "As the number of tourists visiting Japan increases, the number of duty refund stores grew from 5,777 in 2014 to 53,560 as of March this year," and stressed, "JTC is a duty refund store mainly visited by group tourists, and the competition intensity weakened during the COVID-19 pandemic."