A BIG Shift in Currency Value
Currently, 1 US dollar is equal to 153.21 Japanese yen. For context, from 2013 to 2022, the value of the yen consistently hovered around 100 yen per US dollar. However, after reopening its borders to foreign tourists in 2022, the yen has steadily depreciated in value.
On June 27, 2024, the conversion rate spiked to a notable 160.83 yen per dollar, marking a striking opportunity for travelers to stretch their budgets further.
Tokyo Living Costs vs. NYC
What would you expect this apartment to cost in Tokyo, the world’s most populous city?
This short-term studio apartment is available Tokyo Apartments for around 216,000 yen per month (approximately $1,440).
Meanwhile, a comparable apartment in New York City can easily surpass $3,500 a month—more than twice the cost in Japan’s capital. Whether you’re planning a short-term stay or a longer adventure, Japan offers exceptional value for your money compared to other major cities.
Seize the Opportunity
While unfortunate for Japanese locals, the depreciation of the yen provides a chance for tourists. Normally, you wouldn’t expect Japan to be an affordable travel destination. But if you’re a Japan enthusiasts who’s been dying to explore Tokyo’s neon-lit streets or Kyoto’s serene temples, now may be the best time to plan your trip.
