When tensions started flaring up again between Japanese and Chinese governments last week, it was still business as usual for Tokyo-based tour operator East Japan International Travel Service.
Breakdown
- East Japan International Travel Service saw a surge in cancellations after China advised its citizens not to travel to Japan. 8s
- The company reported that 20 group bookings were cancelled, representing about 80 percent of its market this year. 28s
- The company relies mainly on Chinese clients for cultural, corporate, and government tours, making the losses particularly severe. 37s
- Tourism-related stocks in Japan dropped and over 10 Chinese airlines are offering refunds for Japan-bound flights until December 31st. 1m 21s
- The diplomatic dispute began after Japan's prime minister suggested a possible military response to a Chinese attack on Taiwan, and efforts to resolve the issue have not yet succeeded. 1m 35s