Japan's ongoing economic recession has brought some good news for
travellers to the extent that there are now more discount deals
available and, in certain cases, yen prices have remained stable or even
fallen slightly. Unfortunately, such advantages have largely been wiped
out by the recent strength of the yen, meaning that your foreign
currency buys you that much less. However, with careful planning Japan
is still a manageable destination for even those on a modest budget. The
key is to do what the majority of Japanese do: eat in local restaurants,
stay in Japanese-style inns and take advantage of any available
discounts. That said, if you make the wrong choice of bar or take a
longish taxi ride, it can blow your budget apart.
The Japanese currency is the yen (¥), of which there are no subdivisions.
Notes are available in denominations of ¥1000, ¥2000, ¥5000 and ¥10,000,
while coins come in values of ¥1, ¥5, ¥10, ¥50, ¥100 and ¥500. Apart
from the ¥5 piece, a copper-coloured coin with a hole in the centre, all
other notes and coins indicate their value in Western numerals. Note
that, at the time of writing, ticket, change and vending machines have
not yet been upgraded to accept the new ¥2000 notes and ¥500 coins (older,
more silver-coloured ¥500 coins are OK). Also at the time of writing,
the exchange rate was approximately ¥175 to £1, ¥118 to US$1, and ¥66 to
A$1. Japan is currently experiencing negative inflation at a rate
hovering between zero and minus one percent.
Money and information
bank ginko foreign exchange desk Gaikoku kawase mado-guchi/ryogae jo yen
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toruist information
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kanko annaijo
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Costs
By far your biggest outlays are likely to be accommodation and transport.
In the case of accommodation , you can keep costs down by staying in
hostels or cheap Japanese inns and by sharing a room with two or more
people . As an approximate guide, the average price of staying in a
youth hostel dorm is ¥3000 (£17/US$25); for a double room in a basic
Japanese inn, expect to pay from around ¥5000 (£29/US$42) per person;
while a similar room in a moderately comfortable business hotel will set
you back upwards of ¥6000 per person (£34/US$51).
As regards transport , the best strategy for most travellers is to buy a
Japan Rail Pass before departure, though it's also worth investigating
special deals on internal flights. Within the country, all sorts of
discount fares and excursion tickets are available, while overnight
ferries and buses are an economical, if not always comfortable, way of
getting around .
By staying in youth hostels and eating in the cheapest local restaurants,
the absolute minimum daily budget for food and accommodation alone is
¥5000 (£29/US$42). By the time you've added in some transport costs, a
few entry tickets, meals in better-class restaurants and one or two
nights in a ryokan or business hotel, you'll be reaching a more
realistic expenditure of at least ¥8000-10,000 (approximately £46-55/US$68-85)
per day.
Holders of international student cards are eligible for discounts on
transport and some admission fees. If you're planning to stay in hostels,
it's worth buying a Hostelling International card in your home country;
not only does the card qualify you for slight reductions at some hostels
, but you can also take advantage of discount tour packages offered by
the Japan Youth Hostel Association . Before setting off, it's also worth
reading JNTO's Your Traveling Companion , full of useful information and
tips on how to save money - and ask if there are there are any discount
" Welcome Card " schemes operating in the areas you intend visiting .
Consumption tax
A consumption tax ( shohizei ) of five percent is levied on virtually
all goods and services in Japan, including restaurant meals and
accommodation. Sometimes this tax will be included in the advertised
price, and sometimes not, so check first for large amounts.
Changing money
Though credit cards are gaining in popularity, Japan is still very much
a cash society ; even in major cities you'll be settling most bills in
ready money. Thanks to the country's low crime levels and a surprisingly
undeveloped banking system, most Japanese carry around relatively large
amounts of yen, and it's fine for you to follow suit. That said, it's
always safest to carry the bulk of your money in travellers' cheques ,
with the added advantage that in Japan they attract a slightly better
exchange rate than notes. The most widely accepted cheques are American
Express, Visa and Thomas Cook. You'll have no problem changing dollar or
sterling travellers' cheques in major towns and cities, but it would be
wise to carry an emergency reserve of yen travellers' cheques or dollars
cash if you plan to visit more remote areas.
When exchanging either cash or travellers' cheques, banks usually offer
the best rates, with little variation between them and no commission
fees; look for banks announcing "Foreign Exchange Bank" in English
outside the front door. Remember to take your passport along in case
it's needed, and allow plenty of time, since even a simple transaction
can take twenty minutes or more. Note that, while all authorized foreign
exchange banks accept dollars and the vast majority will take sterling,
other currencies can be a problem even in Tokyo; if you're stuck, Tokyo
Mitsubishi Bank handles the widest range of currencies and has branches
in most large cities.
Main post offices often have an exchange counter where you can change
cash or travellers' cheques in eight major currencies, including
American, Canadian and Australian dollars, sterling and the euro; their
rates are usually close to the banks' and they have slightly longer
opening hours (Mon-Fri 9am-4pm).
If you need to change money at any other time, big department stores
often have an exchange desk, though most only handle dollars or a
limited range of currencies and might charge a small fee. Alternatively,
you could try a major hotel ; whilst hotels are only supposed to change
money for their guests, some might be persuaded to help in an emergency.
In rural areas, however, you'll be lucky to find a bank or anywhere else
offering exchange services, so make sure you've got plenty of cash
before heading into the sticks. Finally, when changing money, ask for a
few ¥10,000 notes to be broken into lower denominations; these come in
handy for ticket machines and small purchases.
Credit cards and wiring money
Credit and debit cards are far more widely accepted in Japan than they
were a few years ago. The most useful cards to carry are Visa and
American Express, followed closely by Mastercard, then Diners Club,
which you should be able to use in those hotels, restaurants, shops and
travel agencies where they're used to serving foreigners. However, many
retailers only accept locally issued cards, so it's never safe to assume
you'll be able to use your foreign plastic.
Perhaps the biggest single improvement for visitors concerns cash
withdrawals . Citibank have teamed up with the Post Office to operate
ATM s accepting foreign-issued credit and debit cards in thousands of
post offices - and a few other handy locations such as department stores
and public buildings - throughout the country. The machines are
identified with a sticker saying "International ATM Service" and you can
opt for instructions in English. They handle cards in nine networks,
including Visa, PLUS, Mastercard, Cirrus, American Express and Diners
Club; you'll need your PIN to make a withdrawal, which can be anywhere
between ¥1000 and ¥999,000, depending on the issuer and your individual
credit limit. The card must be inserted face up and with the strip to
the right. In major post offices the ATMs are accessible at weekends and
after the counters have closed, though none are open 24 hours. This is
all excellent news - but there's a proviso. It is a new system and some
people report being unable to get their cards to work at all, while
others found it hit-or-miss. With any luck these are merely teething
troubles, but it's still safest not to be totally reliant on your card.
In addition, Visa and Mastercard now have a fairly good spread of
international ATMs in major cities, while Citibank operates a number of
its own ATM corners in Tokyo and a few other cities. JNTO can provide
lists of locations, or consult the relevant Web sites: www.visa.com ,
www.mastercard.com and www.citibank.co.jp . Most of these machines are
accessible outside normal banking hours and some are open 24 hours. The
minimum withdrawal is normally ¥10,000. If you're having problems, pick
up the phone beside the ATM and ask to speak to someone in English.
In an emergency, wiring money is the quickest option. You'll need to
contact one of the major Japanese banks to check exactly how they handle
these transfers and the charges they levy, then call on a reliable
friend to make the arrangements at the other end. The whole process can
take several days, and hefty charges are made at both ends (in Japan,
typically around ¥2500 for yen transfers, while charges for other
currencies are generally built into the exchange rate employed).
Alternatively, you can use MoneyGram ( www.moneygram.com ), whereby you
receive the transfer via a MoneyGram agent; charges vary according to
the amount, but can be up to ten percent.
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