Chairman's Greeting

Overcoming the challenges caused by the COVID-19 pandemic for over three years, the economic and social activities in Japan are gradually returning to normalcy. The year 2024 will be critical for controlling deflation, as a virtuous cycle is expected wherein higher corporate earnings will encourage forward-looking spending, including pay rises which will offset price hikes and capital investments, thereby increasing personal consumption.

Meanwhile, continued instability and uncertainties in international security are predicted, considering tensions between the US and China, Russia's invasion of Ukraine, and the Israel-Palestine conflict. The world is now entering a new era of intertwined division and cooperation. The importance of multiple partnerships among nations that share universal values such as freedom, human rights, democracy, and the rule of law are becoming even more apparent as the harsh realities of a chaotic world are emerging.

Furthermore, the changes in social and individual values and behaviors caused by COVID-19 and the exacerbating decline in the labor force have highlighted the need to address business innovation in the transportation and tourism industries, digital transformation, accelerating decarbonization, and Japan's 2024 problem in the transport sector (a new overtime cap for drivers of vehicles took effect in fiscal 2024).

These issues must be addressed through medium- to long-term perspectives, using international knowledge and seeing through global trends.

In this light, we strive to deepen interaction and cooperation with everyone and to contribute to the realization of sustainable and vibrant transportation and tourism, through research, surveys, policy recommendations, seminars, symposiums, consultations, and other activities.

Our activities are carried out in cooperation with JITTI in Washington, D.C., USA and AIRO in Bangkok, Thailand (established in April 2021), in a comprehensive and strategic manner. In conducting these activities, we recognize the role of transportation and tourism in the realization of a "Free and Open Indo-Pacific," and we plan to pay close attention to trends in North America, Southeast Asia and South Asia, as well as in Europe.

We will continue our international activities by assessing the post-COVID-19 economic and social conditions of various countries and regions and strive to conduct research, surveys, seminars, and symposiums aimed at strengthening collaboration with relevant countries and regions in the following (1) enhancement and expansion of international human exchange in a wide range of fields, including tourism, culture, and academia, and (2) development and operation of high-quality transportation infrastructure, and human resource development in Southeast and South Asia. Additionally, we also plan to make the most effective use of the "Sustainable Development Fund Program," "Global Fund Program," and "Maritime and Ocean Development Fund Program," all of which are supported by the Nippon Foundation, to ensure that our activities overall are interconnected and most effectively implemented.

All members of our institute are committed to making your best efforts. We are grateful for their continued guidance and encouragement.

SHUKURI Masafumi
Chairman, Japan Transport and Tourism Research Institute (JTTRI)
July 2024