Japan boasts the world’s third largest economy, with significant consumer spending power.
International sports competitions and initiatives such as the Integrated Resorts, Rugby World Cup 2019, Osaka World Expo 2025 and the Tokyo 2020 Olympic and Paralympic Games have encouraged Japan to take a more proactive stance on becoming more relevant on the global stage. As a result, there is a high demand for Western products and services.
The Japanese market also represents a key stepping off point for expansion into the rest of Asia, as the country is known for being right at the cutting edge of research, development, and sparking new consumer trends. Companies that establish a solid reputation in Japan will be seen as strong players throughout Asia.
Since 2016, Tokyoesque has also worked with the Japanese organisers of events such as the Rugby and Olympics to provide insight into the global major events industry. Using our knowledge of how events like London 2012, Edinburgh Fringe and Pyeongchang 2018, we have endeavoured to enrich Japanese plans for these global major events.
On top of that, we delve into consumer behaviour and attitudes amongst non-Japanese attendees: how did Rugby fans travel through Japan in 2019? How did the legacy of the Stratford rejuvenation initiative play out following London 2012? These types of insights require a careful analysis of cultural differences to bring what is valuable into the Japan market, in a localised fashion.
The COVID-19 crisis may have put a damper on the events and exhibition industry – which just two years ago was predicted to grow to $2.3bil by 2026. And prior to 2020, the Japanese live music industry was worth over $3bil in its own right. Regardless of what the outcome of the general events industries will be following COVID-19, global major events are seen as an integral factor in opening Japan up to ongoing tourism, becoming more open to global business and establishing its reputation globally. It’s safe to say they will remain a key part of Japan’s overall goals and plans for the coming decade.
Curious about the Japan market?
The Japanese major events industry encompasses the Tokyo 2020 Olympics & Paralympics and the Osaka World Expo 2025. Want to get involved?
Take a look at our latest projects and research in this industry below.