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Declining yen has tourism industry worried

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At the beginning of the 1990s Japan’s currency, the yen, was so strong that it caused an intense controversy in Australia.

Some people feared that Japanese buying power was so strong that many of our precious national assets would soon be owned by investors from Tokyo.

Fifteen years on, it is Australia’s dollar that is so strong that the Australian tourism industry is now worried that Japanese people will not travel here any more.

Many Japanese are cutting costs where they can, apparently booking fewer holidays to Australia.

Even the most popular destinations such as far north Queensland may be lucky to beat last year’s Japanese visitor arrivals.

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