Weak Yen drives record foreign passenger numbers at Kansai Airport : Moodie Davitt Report

JAPAN. The Yen’s sustained weakness helped drive a record number of foreign passengers at Kansai International Airport in July.

Kansai Airports, which also operates Itami and Kobe airports, said the 1.67 million figure (see table below), up +38% year-on-year, was the highest in a single month since the airport’s opening, beating June’s 1.62 million.

Despite recent strengthening, this five-year chart shows the extraordinary weakness of the Yen through 2024. In late June the currency sank to 160.88 against the US Dollar, its lowest since April 1990. {Source: Google Finance, click to expand}

Overall international passenger traffic rose +35% year-on-year to 2,067,034, equivalent to 95% of the same month in 2019. The result surpassed 2 million in a single month for the first time since the COVID-19 outbreak.

In related news, Kansai Airports today announced a diverse selection of stores, food & beverage outlets and other consumer services for the commercial zone within phase 3 of Kansai International Airport’s ongoing Terminal 1 renovation. ✈

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