JAPAN’S economic recovery is welcome news for the CNMI and Guam whose tourism industries rely heavily on visitors from Japan.
Japan economic managers announced Friday that the nation had finally emerged from recession, citing a 1.4 percent economic growth in the first quarter of this year.
Japan’s first quarter growth came from a 6.4 percent increase in exports and a 1.6 percent rise in consumer spending, and these helped revive the world’s second largest economy.
Lt. Gov. Diego T. Benavente said the commonwealth has to take advantage of this growth. “It is really, really good news for us,” he added. “At least we now can point to the fact that there is already certainty on our tourism efforts. All we need to do is to double our (promotion) efforts,” Benavente said.
Acting Marianas Visitors Authority Managing Director Vicky I. Benavente said Japan’s economic rebound came at the “right time” for the CNMI which recently launched two promotions aimed at Japanese couples and families.
“It’s perfect timing for us now that consumer spending in Japan has increased,” Mrs. Benavente said. “There will be more travelers.”
Guam Sen. Felix P. Camacho, R-Tamuning and chairman of the Committee on Tourism, Transportation and Economic Development, said “dried up businesses” on Guam are expected to benefit from Japan’s economic recovery.
“That is a good news for Guam. Although it will not happen overnight, but the fact is there is already confidence in the (Japanese) economy and they are moving,” Camacho told Variety.
There are about 16 million “outbound” Japanese tourists, and the lt. governor and Camacho agreed that the number could increase.
But Camacho said Guam and CNMI have to work harder to get a larger percentage of the outbound tourists.
“We are up against some heavy competition from Bali, Thailand, Korea and Hong Kong,” Camacho said.
