[#Japan’s Doomsday Prophecies Cause $560 Billion Loss#] #Southwest Islands of Japan Earthquake##Doomsayers in Japan Begin to Change Their Minds# Influenced by the doomsday prophecies in Japan, there has been a decline in the willingness of Asian countries to visit Japan. Japanese experts estimate that the disaster could result in at least a loss of 560 billion yen (approximately 258.7 billion RMB) in economic damages.
According to Japan News Agency, despite the predictions on July 5th being scientifically unfounded, there is still a trend of avoiding summer vacation trips to Japan due to concerns about large natural disasters, especially evident in Hong Kong. In April this year, a renowned Feng Shui master in Hong Kong began calling for people to avoid traveling to Japan, issuing a warning about the risks of natural disasters.
The demand for travel to Japan has sharply decreased. Greater Bay Airlines in Hong Kong announced a reduction in flight schedules from May 13th to October 25th. According to data from the travel data company “ForwardKeys” and analysis by Bloomberg, the number of reservations for flights to Japan from Hong Kong, Taiwan, and South Korea has continued to decrease since April. Specifically, the number of reservations from Hong Kong has decreased by about 50% compared to the same period last year. Particularly during the week of late June to early July, when including July 5th, the number of reservations plummeted by 83%, showing a significant downward trend.
At the end of May, Nomura Research Institute’s Chief Economist, Yukio Kato, estimated that the doomsday prophecies might reduce the demand for travel to Japan by approximately 560 billion yen.