Japanese restaurants hike prices for tourists amid Yen slump
More and more Japanese restaurants are introducing two price lists in their menus: cheaper prices for local customers and more expensive ones for foreign guests. As reported by the Nikkei Asia portal, this strategy aims to take advantage of the tourist influx without alienating local consumers.
5:51 PM EDT, June 20, 2024
The portal notes that Japanese restaurants may struggle to grow if they focus solely on serving foreign tourists who choose Japan as their travel destination due to the weakening yen over the past year.
The president of the large restaurant chain Watami, Miki Watanabe, observed that local Japanese people do not order beef fillet skewers for 3,000 yen (about $20). However, tourists visiting Japan consider them cheap and purchase them readily. The Watami restaurant chain recorded over a 75 percent increase in meals served to foreigners in April.
Given this scenario, the increasingly common solution is introducing two price lists, as reported by Nikkei Asia.
Legal practice
A grill in the bustling nightlife district of Shibuya, Tokyo, made such a decision. On weekdays, a seafood buffet with about 60 dishes and unlimited drinks costs 5,980 yen (about $40) for residents but 6,980 yen (about $45) for tourists.
Having seen this offer on social media, a Hong Kong resident decided to visit the place and had no objection to paying a higher price than local residents. He noted that he would pay twice as much if he wanted to eat the same dishes in his hometown.
The portal quotes a lawyer who says that introducing two price lists is legal as long as the prices are explained properly. He emphasizes that it all depends on how consumers perceive it.
The mayor of Himeji plans a similar solution. On Sunday, he stated that he is considering quadrupling ticket prices exclusively for foreign tourists. A ticket to the 17th-century Himeji Castle, a UNESCO World Heritage site, costs 1,000 yen (about $7).
