Japan Issues Megaquake Advisory Amid Tourism Impact

Japan's recent unprecedented megaquake advisory has led to significant hotel cancellations, particularly in high-risk areas, severely impacting the tourism sector during a peak travel period. Following a 7.1 magnitude earthquake on August 8, authorities issued the first-ever warning regarding increased earthquake risk along the Nankai Trough, leading to over 9,400 cancellations in Kochi alone, resulting in an estimated revenue loss of 140 million yen ($948,000). The warning coincides with the annual 'obon' holiday, traditionally a busy time for travel and family gatherings, further exacerbating the situation for hoteliers. Travelers and insurers are on alert, with some facing potential loss of coverage for cancellations linked to this known risk. While the advisory is not an indication of an imminent disaster, the economic repercussions are palpable across various tourism-related businesses. Industry representatives express hope that reservations may resume once the warning is lifted, provided no further seismic activity occurs.