Japan’s recession in the 1990s affected tourist spots, and it affected both then and now
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City explorers recently documented a very well-preserved resort town in Japan, although largely abandoned.
Ounce of Kida River located in the city of Nikko Central Japan Tochigi Province was once a thriving tourist destination known for its hot springs and hotels in the heart of towering cliffs.
“When I came across this whole district of this abandoned hotel, I was scouting other nearby locations,” 28-year-old Luke Bradburn told news agency SWNS. “It was like walking into a ghost town.”
The area was first developed in the 1970s. It was in the middle of the Japanese economy’s launch into the stratospheric postwar period.
The man discovers “Ghost Town.”
Kigawa’s hot springs, once a hot spot for Japanese tourists, are now primarily abandoned. (istock / istock)
However, it soon became clear that the land of the rising sun was on the cliff of economic disaster. It was then revealed that places like Kigawa’s Oncesen could not be held for too long.
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When Japan was on the peaks of the bubble and its bubble burst, it gave way to what is known as the “Lost Decade” of the 1990s.
Japan saw a prolonged period of economic recession, marked by stock prices and tanking of deflation in the 1990s. (Yoshikazu Tsuno/AFP via Getty Images/Getty Images)
The Ministry of Finance hiked interest rates, stock markets crashed, hampering demand, resulting in periods of economic deflation and increased conservatism in business investment. Ultimately, this slowed the market down to crawl.
Some analysts expanded the term “lost decades,” citing events such as the 2008 economic recession and the 2011 Fukushima Daiichi Nuclear Power Plant disaster as a catalyst for even more important economic turbulence from the 2000s to the 2010s.
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An urban explorer recently went to a hot spring in Kinukawa, calling it “creepy” and likened it to a “ghost town.” (istock / istock)
Between 1995 and 2023, the Japanese economy saw a trillion dollars of nominal GDP decline. Nominal GDP of the world Over the past 30 years, he has signed about a fifth of the 1990s.
In the 1990s, places like Kida Cannabis fell victim to Japan’s new economic pessimism and other aggravating factors surrounding it.
Previously, the gorgeous vacation hotspots have become out of attractions. In 2005, urban planning expert Professor Shigeru Itoh made the region third appearance in Japan.
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“You get the feeling here, what life must have been like at its peak, and it just stopped,” Bradburn said of the area.
“It’s creepy, sad and charming at once.”