Japanese people prepare for 10-day holidays
This year, the "Golden Week" coincided with the emperor's coronation and the beginning of a new era
/NOVOSTIVL/ Japan is poised to celebrate the Imperial succession and the start of a new era on May 1 with a festive extra-long 10-day Golden Week from April 27 through May 6. This article appeared in The Japan Times.
The string of consecutive holidays, at first glance, appears to be a miniature spring break for children out of school and a summer and winter vacation merged into one for employees who get permission to go.
More people will be traveling, eating and shopping during the break, which is expected to benefit businesses. But it is also expected to be a headache for traders in Japan who are concerned the prolonged shutdown of Japan’s financial markets will unsettle the yen.
Starting on April 27 (Saturday), Golden Week will include April 29 (Showa Day), May 3 (Constitution Day), May 4 (Greenery Day), May 5 (Children’s Day) and May 6 (a substitute holiday).
The Financial Services Agency issued a statement warning market participants to be aware that stock prices might fluctuate and trading volume may substantially increase if major market-moving events occur during that time.
Dai-ichi Life Research Institute estimates the extra long Golden Week will push up domestic travel by ¥332.3 billion, or 28.9 percent, to ¥1.48 trillion compared with ¥1.15 trillion last year.