Japanese Economy：Discover Nagano’s Resilience: Positioned for Stable Inbound Tourism Growth in 2026

What Kind of Place is Nagano?

• Nagano Prefecture, situated in the heart of Japan's Northern Alps and often called the "Roof of Japan," stands out as a highly resilient and diversified inbound tourism destination. Surrounded by majestic 3,000-meter peaks and encompassing vast natural parks, Nagano offers condensed access to world-class nature, history, culture, and outdoor adventures—all within easy reach from major cities.

• As the host of the 1998 Winter Olympics, Nagano enjoys strong global recognition. Iconic destinations such as Hakuba (world-renowned for its powder snow and expansive ski terrain), Nozawa Onsen (famous for authentic hot springs combined with excellent skiing), Jigokudani Snow Monkey Park (internationally celebrated for its wild Japanese macaques bathing in natural hot springs), and Karuizawa (a historic and upscale summer resort beloved by international visitors) have long established Nagano's reputation among skiers, adventure travelers, wildlife enthusiasts, and those seeking cool escapes from urban heat.

• With exceptional accessibility—just 80–110 minutes from Tokyo via the Hokuriku Shinkansen to Nagano Station—Nagano serves as a seamless extension or alternative to Japan's traditional "Golden Route," delivering premium, authentic Japanese experiences in a compact and convenient package.

Key Takeaways

• Japan’s inbound tourism reached 42.7 million visitors in 2025, supported by yen depreciation; however, growth momentum is becoming increasingly uneven due to a sharp contraction in Chinese inbound demand.
• Heightened Japan–China geopolitical tensions have materially reduced arrivals from China, increasing downside risk for regions with high exposure to a single source market.
• Nagano Prefecture exhibits comparatively low downside risk, supported by its limited reliance on Chinese visitors and its diversified inbound base concentrated in Australia, Europe, Taiwan, and Southeast Asia(Figure).
• Historical evidence, including the 2012 Senkaku Islands episode, indicates that Nagano has demonstrated relative stability during periods of sharp Chinese inbound declines.
• While seasonality and labor constraints remain structural challenges, ongoing green-season expansion is gradually improving earnings stability, supporting a defensive investment profile within Japan’s inbound tourism sector. 

（Figure）Location Quotient of the Nationality Composition Ratio of Total Foreign Overnight Stays
 in Nagano Prefecture

 

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