According to the IMF report published in July, Japan’s economy will grow by 1.4% in 2023, fueled by pent-up demand, supply chain improvements, and policy support as the country seeks to strengthen its recovery from the COVID-19 pandemic. Since lifting border control measures for overseas travelers in May 2023, Japan has seen a significant rebound in its tourism industry. In August, tourism levels reached 85.6% of the pre-pandemic figures, as reported by the Japan National Organization, marking the first time they surpassed the 80% threshold since the onset of the pandemic.
Japan’s maritime strength is central to its position as the world’s third-largest economy.