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Cherry Blossoms Are Hauling in the Yen For Japan
Move over, Ohtani Shohei and Taylor Swift: economists say that cherry blossoms are about to give Japan an economic windfall.
Cherry blossoms will boost Japan’s economy as the country enters the best week to view the flowers. Businesses are taking advantage and pushing boundaries with how far they can tailor products to seasonal trends.
Japan’s money tree
Cherry blossoms will have an economic impact 1.8 times larger than last year of over ¥1.13 trillion (over $7.5 billion) this season, according to renowned Japanese economist Professor Katsuhiro Miyamoto from Kansai University. That means cherry blossoms will generate as much money as it would take to build 17 Skytrees.
The economic boost of the spring flowers dwarfs the estimated ¥64.3 billion ($424 million) impact of Shohei Ohtani’s move to the Los Angeles Dodgers last December and the projected ¥34.1 billion ($229.6 million) generated from Taylor Swift’s Tokyo leg of the Eras Tour this February.
Miyamoto projected that approximately 61.39 million Japanese citizens and 3.73 million…
