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Tourism surges to Japan's No. 2 'export,' behind cars

TOKYO -- Spending by foreign visitors in Japan has quintupled over the past decade to become Japan's second-largest export category, underscoring a shift from goods to services.

Direct purchases in the domestic market by nonresident households totaled an annualized 7.2 trillion yen ($45.1 billion) in nominal terms for the first quarter of 2024, government data shows.