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Japanese carmakers are losing ground as China surges ahead in the EV race

Honda car in a showroom in China
Honda and its rivals are facing a growing headache over sales in China, the world's largest car market.

Costfoto/NurPhoto via Getty Images

  • Three of Japan's iconic car companies are struggling.
  • Toyota, Honda, and Nissan have seen sales in China slump, and now Nissan and Honda are considering merging.
  • Japanese automakers, which have prioritized hybrids, are facing pressure from China's EV giants like BYD.

Japan's iconic auto industry is going through a rough patch, and now two of its most important companies are considering merging as they fight for survival.

Nissan and Honda are set to negotiate a possible merger, according to multiple reports on Tuesday, as they mull combining forces to stave off the growing threat of Tesla and China's electric vehicle makers.

It comes after the two companies and major rival Toyota reported slumping profits in their most recent earnings, as they grapple with ferocious competition in China and a bumpy transition to electric vehicles.

Nissan announced it would cut 9,000 workers amid falling sales, while Honda reported a 15% drop in operating profit in the second quarter.

Toyota, the world's largest automaker, saw profits for the quarter ending in September drop to 573.7 billion yen ($3.7 billion), down from nearly 1.28 trillion yen ($8.3 billion) over the same period last year.

All three companies face a similar problem; they are failing to sell enough cars in China.

Toyota's sales in China were down just over 10% in the first nine months of the year, with the company blaming "severe market conditions" such as "intensifying price competition."

Still, a Toyota spokesperson told Business Insider that its declining profits were not only attributable to China; it also saw weakness in Japan and North America.

Honda flagged a decline in sales in China in its most recent quarter, dragging down its total group sales. While Nissan reported a drop of over 5% in retail sales in China in the first half of the fiscal year β€” the largest drop of any of its regions.

Like other foreign automakers, Japan's car giants are being squeezed in China by local rivals. These rivals have rapidly gained market share by offering a range of affordable but high-tech EVs and hybrids.

BYD, Zeekr, and Nio have reported bumper sales recently, as European automakers like Mercedes-Benz and BMW are being squeezed in this region.

Many of China's EV champions are now expanding overseas, something Felipe Munoz, auto analyst at JATO Dynamics, told BI was putting the likes of Toyota and Honda under growing pressure.

"The real battle is happening in the emerging markets. And that's exactly where the Japanese car makers are suffering the most," said Munoz, pointing to the rapid expansion of the likes of BYD in Southeast Asia and Latin America.

"Japanese carmakers have a strong presence in Southeast Asia. And Southeast Asia right now is a hot market for Chinese cars," he said.

Electric woes

Japanese automakers have taken a broadly cautious approach to the transition to EVs, focusing instead on hybrid vehicles.

That approach has mostly paid off as EV demand has slowed, with Toyota reporting bumper profits on the back of strong hybrid sales in the US earlier this year.

A Toyota Prius
Toyota is considered to have started the hybrid-car craze in the early 2000s with the release of its Prius.

iStock; Rebecca Zisser/BI

However, Munoz said that while the hybrids-first strategy may have worked out in the US and Europe, it has created problems for Japanese automakers in China, leaving them without a strong lineup of EVs that can compete with local offerings that can cost less than $10,000.

"China is definitely shifting to fully electric. And this leaves out all of the car makers that are not competitive with their electric cars," said Munoz.

He added that Toyota, Honda, and Nissan are at risk of becoming overly dependent on US and European markets, which are experiencing stagnating growth while losing out in expanding markets like China.

"At the end of the day, the hybrid strategy worked in Japan, worked in the US, and worked very well in Europe, but that's not the case in China," he added.

There are signs that Japan's auto giants are changing their strategies.

Nissan has pledged to accelerate the introduction of new EVs in China and hybrids in the US, while Toyota is reportedly planning to expand production in China as it attempts to take on local firms.

A Nissan spokesperson told BI that the company is taking measures to meet the market's and customers' needs, including introducing new products.

They added that the US remains a priority market for Nissan, and that the company was expecting an increase in sales from new models.

Shares of the carmaker jumped after news of the potential merger with Honda broke, rising as much as 24% in early trading on Wednesday. Nissan's shares are down nearly 25% this year.

Japanese automakers will likely face new challenges in the coming years, especially in the wake of Donald Trump winning the US presidential election.

Speaking on an earnings call in November, Honda executive vice president Shinji Aoyama warned that Trump's proposed tariffs on vehicles imported from Mexico could have a huge impact on Japanese automakers, many of whom have factories in the country.

Honda did not respond to a request for comment, sent outside normal working hours.

Read the original article on Business Insider

Waymo robotaxis are coming to Tokyo in 2025

Waymo will begin testing its autonomous vehicle technology in Tokyo in early 2025, the first time the Alphabet company’s robotaxis have driven on public roads outside the U.S. The move to Japan is part of Waymo’s β€œroad trips,” a development program that involves bringing its technology to a variety of cities and testing it β€” […]

Β© 2024 TechCrunch. All rights reserved. For personal use only.

A Gen X couple bought an abandoned house in Japan for $23,000. They're restoring it as part of their retirement plan.

The front of the akiya.
Deborah and Jason Brawn bought an akiya in rural Japan.

NekoAshi Japan.

  • Deborah and Jason Brawn bought an abandoned house in rural Japan for about $23,000 in 2023.
  • The Australian couple plan to restore the property in the coming years as they transition into retirement.
  • They say that integrating into the local community is a crucial part of being a homeowner in Japan.

Deborah and Jason Brawn's shared dream was to buy a house in Japan.

The couple β€” from Brisbane, Australia β€” had long been interested in Japanese culture and its way of life, having visited the country multiple times over the years.

In 2023, they finally decided to take the plunge. With their four kids all grown up, they were soon-to-be empty nesters β€” it was now or never to follow their dreams.

A couple posing with cherry blossoms in Japan.
The couple's love affair with Japan started with Deborah, who studied Japanese at university in the '90s.

NekoAshi Japan.

"We knew that Japan had an issue with akiya, and because we really love the Japanese lifestyle, the people, the culture, and the old traditional houses, we thought, why not?" Jason, 51, told Business Insider. "Everyone else seemed to be following their dreams. Why can't we?"

A lifelong connection to Japan

The couple's love affair with Japan started with Deborah, who studied Japanese at university in the '90s. After graduation, she moved to Tokyo for five years, where she worked as an English teacher. For three decades, she also practiced karate.

Her love for Japan eventually rubbed off on Jason.

However, it was during the pandemic that the couple first learned about akiya, or abandoned houses, in Japan.

The front of the akiya.
The couple says that the akiya was built in 1868.

NekoAshi Japan.

Due to the shrinking population and internal migration toward cities, there are millions of unoccupied houses in rural Japanese towns.

In recent years, the Japanese government started offering incentives β€” such as renovation subsidies and even free properties β€” in an effort to lure residents to these "ghost towns."

"I'd actually looked at foreclosed properties years and years ago, wanting to buy a property in Japan before the word 'akiya' had become popular. But I was in a position where I had young children," Deborah, 52, told BI.

Now that their youngest is 18, it made sense for the couple to start planning for the next stage of their lives, including retirement. That's where buying an akiya comes in.

"We wanted a project. Like the word 'ikigai,' we wanted to be able to get up and say, that's our passion now. We've raised kids, we want to go there as much as we can and just tinker," Deborah, a business analyst, said.

The living area.
They were looking for a project to work on as they were transitioning into retirement.

NekoAshi Japan.

However, since Japan's borders were still closed at the time, the couple did most of their initial research online. They joined Facebook groups and spoke to like-minded people to learn more about the process.

They knew they wanted to be outside the city and close to nature. While browsing online listings, they put together a list of potential houses they wanted to see in person once travel resumed.

"We were sort of matching them against what we are looking for β€” something old, very traditional," Jason, a construction workplace health and safety inspector, said.

In November 2022, after the borders opened, they jumped on a plane to Japan for a quick visit.

In April 2023, they returned to the country for a six-week trip, where they drove around and looked at all the houses on their list.

The main bedroom.
The idea was to restore the akiya to its former glory but with some modern amenities.

NekoAshi Japan.

It was in Mitocho, a small town near Masuda city, where they found the perfect akiya β€” a traditional Japanese house constructed in 1868, during the Meiji era. Masuda city is about a two-hour drive from Hiroshima, and a 90-minute flight from Tokyo.

"We drove over there, and when we saw it, we just knew that was the one, and we didn't look anymore after that," Deborah said.

The property had been vacant for 12 years before they came along. The couple was told it had served as a sake brewery until the early 1900s.

In order to inspect the property, they had to fill out a couple of forms for the local akiya bank. An akiya bank is a database maintained by the local municipalities for abandoned or vacant houses.

A sake brewery sign that the couple found in the akiya.
The akiya had been a sake brewery at some point in the past, and the couple found a sign β€” as well as other sake-brewing instruments β€” while cleaning up the property.

NekoAshi Japan.

"They were very serious," Deborah said. "It was all in Japanese. We had to fill out a form with all our details, our families, what we do for a job, all that stuff. And then another form about our intentions and what we want to do with the house."

A retirement project

The couple paid 3.5 million Japanese yen, or $23,000, for the akiya in August 2023.

It was a 7LDK, which in Japanese housing terminology means that the house has seven bedrooms, a living room, a dining area, and a kitchen.

There are about 300 houses in their village, and their akiya is situated along a street leading to the community center. There's also a 7-11 across the rice field from their akiya.

So far, the couple has fixed up the front of the house by tidying up the garden, as well as adding a new gravel driveway and car park. They've also restored the kitchen, and gotten rid of the old toilet in favor of a modern bathroom.

The annex.
The couple paid 3.5 million Japanese yen for the akiya.

NekoAshi Japan.

"The intent is to bring the house back to its former glory with one or two modern touches," Jason said.

While they were prepared for the challenges of fixing up the old house, they were surprised by the amount of wildlife they encountered, including both spiders and snakes.

"And we've got monkeys, we've got centipedes, we've got bears, and killer hornets too. I was chased by one inside the house, so that was really scary β€” even though it makes a funny story now," Deborah said.

The language barrier was also a bit of a challenge for Jason, even though he's taking Japanese classes now.

"I can't really speak Japanese, whereas Deb can. So it puts a lot of pressure on her too," Jason said. "It's not like being in Tokyo or Kyoto where a lot of Japanese speak English."

The kitchen after restoration.
The couple splits their time between Australia and Japan.

NekoAshi Japan.

The couple expects to spend the next few years chipping away at this project. They have also started documenting their restoration progress on their YouTube channel.

"We've got no urgent timeframe, and we're not trying to make money out of the property. We don't want to Airbnb it or anything like that. This is for us," Deborah said.

The couple still lives primarily in Brisbane, where their jobs are based. They plan to continue splitting their time between Japan and Australia until they fully retire in "hopefully five to eight years," Deborah said.

Integrating into the local community

When they're back in Australia, the akiya sits empty, but Jason said they've installed cameras around the property so they can monitor the yard.

The couple has also become friends with the real-estate agent who handled their akiya transaction β€” so much so that he even drives by their property once a week just to check on it on their behalf.

The front of the akiya during spring.
The couple say it is their responsibility as akiya owners to be heavily involved in the local community.

NekoAshi Japan.

Building relationships with their neighbors and the wider community has been the key to the success of their akiya project.

"We've got a good support network there, but that doesn't just come along. You've got to work at that," Deborah said.

She added that they've been involved in the local community since day one, and even joined the neighborhood association.

In fact, the couple says that participating in the local community is one of the most important aspects of buying an akiya in Japan.

A man standing on a grassy river bank.
In September, they traveled from Australia to Japan to join their neighbors in cleaning up the local river.

NekoAshi Japan.

It's also why the local akiya bank was so invested in knowing why the couple wanted to buy the property, Jason said.

In recent years,Β foreigners have been snapping up these old, abandoned homes, in part due to the low price tags and the lack of restrictions on foreigners purchasing property in Japan. For many of them, it's more affordable to own an akiya in Japan than to own real estate in their home countries.

"In most cases potential buyers are asked their intentions before attending a viewing or submitting an application," Alex Shapiro, the cofounder of Blackship Realty, a Tokyo-based real-estate agency, told BI.

The local municipal governments may prioritize potential buyers who intend to live there, contribute to the local community, and pay local government taxes, he said.

However, each local government sets its own rules, Sami Senoussi, the cofounder of Akiya Heaven, which offers consulting services for akiya purchases, told BI.

"Some rural communities, especially those with aging populations, impose stricter guidelines in an effort to preserve the character and culture of their towns," he said. In more urban areas, including Tokyo, it's less common, he added.

Additionally, potential buyers may also be asked to demonstrate that they have the financial capacity to fund the renovations, especially if the akiya in question requires significant repairs, he said.

Indeed, while buying an akiya may be relatively affordable, the cost of fixing the house up can balloon quickly, Jason said.

"There's a lot of time, effort, and money that needs to go into them. And commitment β€” you can't just turn up in the community and play no part. You've got to put an equal amount of time into the house as much as you've got to put it into the community, and forge those relationships," he added.

Have you recently relocated to a new country and found your dream home? If you have a story to share, contact this reporter at [email protected].

Read the original article on Business Insider

I've flown on the Airbus jet Alaska will fly to Tokyo. It was a comfortable ride and I'm excited about the airline's new long-haul flights.

Alaska Hawaiian
Alaska is banking on Hawaiian's widebody planes to expand into Asia.

Tayfun Coskun/Anadolu Agency via Getty Images

  • Alaska Airlines' merger with Hawaiian Airlines gives it access to long-haul Airbus and Boeing planes.
  • The airline is pressuring mainline competition in Seattle with new nonstops to Asia in 2025.
  • Japan's tourism boom makes it a strategic destination and I'm excited about the expansion.

Fresh off a $1.9 merger with Hawaiian Airlines, Alaska Airlines has big plans for using its new widebody planes with new routes to Asia.

The airline announced Tuesday plans to fly former Hawaiian Airbus A330 planes to Tokyo and Seoul from Seattle in 2025, utilizing operations infrastructure already in place under the newly acquired airline.

Seattle is a huge hub for Alaska, where it holds 55% of the domestic market β€” but its prior lack of overseas reach makes the Asia expansion a no-brainer.

Alaska chief commercial officer Andrew Harrison told The Points Guy that demand is stronger from Seattle than from Honolulu, where Hawaiian previously served Tokyo. Alaska can also take advantage of strong cargo and corporate demand from Seattle.

Leaving Seattle will also mean shorter flight times than from cities like San Francisco and Los Angeles, where United Airlines and American Airlines operate.

The blue pair of seats on Hawaiian.
The author's economy seats on Hawaiian Airlines' A330 in November 2023.

Taylor Rains/Business Insider

The expansion will also put pressure on competing Delta Air Lines, which already flies nonstop from Seattle to both cities.

Delta has been investing in its Seattle hub for years as it tries to take advantage of the city's West Coast location and poach business.

But Alaska's new routes, which Harrison said will grow to 12 by 2030, are likely to maintain and grow Seattle locals' loyalty to Alaska β€” and those across the country who need more one-stop options to Asia.

Alaska's incoming A330s are nice but lack premium economy

I'm thrilled about Alaska's international expansion.

Seattle may be far from my local New York airports, but flyers now have more choice across the Pacific β€” and likely beyond, depending on where Alaska's next 10 routes will lead.

Alaska said the merger wouldn't lead to immediate changes on board Hawaiian's aircraft, meaning the A330 I flew on in economy to Honolulu in November 2023 will offer a similar experience to those flying to Japan in 2025.

Seat 42H viewed from the window seat.
The screens do not flip up when the seat is reclined, impacting the viewing angle.

Taylor Rains/Business Insider

In my experience, the coach seats were well-padded, offered enough legroom for my five-foot-three-inch self, and had an adjustable headrest β€” a must for me to sleep in economy.

I also appreciated the rows were fit with only two seats on the sides closest to the windows. There were four in the middle sections.

My only gripe was the deep recline. While I loved the comfort it offered, it meant every passenger had to recline, or the person in front would cut into your space if you were sitting upright.

If you're inclined to rest or sleep, it's great. But if you want to sit more upright to watch a movie, expect to feel a little cramped and have a slightly annoying viewing angle to the screen.

A top-down view of the author's legroom with her REI backpack under the seat in front.
The legroom on Hawaiian's A330 was enough for my husband and I. The seatback pockets don't have extra slots for better organization, though.

Taylor Rains/Business Insider

The planes do not offer premium economy, but Harrison said the aircraft would be retrofitted to add the popular cabin in the coming years.

Delta may earn business in the meantime thanks to having premium economy already installed on its A330-900neos flying from Seattle to Tokyo.

Alaska's Asia-bound planes could also change once Alaska gets more of Hawaiian's undelivered Boeing 787 aircraft.

Business class on these planes represents a significant upgrade to that of the A330s, which don't offer the same privacy or direct-aisle access.

Travel to Japan is breaking records

Japan makes sense as Alaska's first long-haul destination. The nation's fall foliage, cherry blossom season, shopping, and myriad cultural and historical sites make it a tourist hot spot.

A September report from Mastercard Economics Institute showed a 153% increase in visitors from the US to Japan in the first half of 2024 compared to the same time in 2019. Travelers from Canada increased by 148%.

CNBC reported that Japan expects 35 million total travelers by the end of 2024, representing a 10% increase from 2019.

Crowds are so high that Japan Airlines is pushing travelers to use a bag delivery service to send luggage straight from the airport to their hotel or accommodation instead of carrying them on the train.

Cherry blossoms in bloom in Tokyo, Japan, in March 2023.
Japan is expected to see a spike in tourism during Spring Break, part of which coincides with the cherry blossom season.

Taylor Rains/Business Insider

The boost is, in part, thanks to cheaper airfare β€” and Alaska's new route is likely to further lower prices out of Seattle.

Flights from the US to smaller Japanese cities have seen huge drops. Kayak data shows Sapporo fares are down 19%, Okinawa fares are down 17%, and Osaka fares are down 14% compared to 2023.

Japan Airlines' new free flight program may have helped, which comps domestic legs for many tourists who also book a roundtrip international flight to Japan on the same booking.

Read the original article on Business Insider

Japan Airlines doesn't want you to take your luggage on the train when you visit Tokyo

Commuters travel on a train in Tokyo
Tokyo's trains are often crowded with commuters.

PHILIP FONG/AFP/Getty Images

  • Japan Airlines is offering a same-day luggage delivery service for visitors to Tokyo.
  • The service costs $29, and the airline says it will help combat "congestion" on public transport.
  • The weak yen has made Japan a popular destination for visitors from countries including the US.

Japan Airlines is offering to deliver luggage to your hotel or accommodation when you visit Tokyo.

The same-day service costs 4,500 yen ($29) per suitcase and is available from terminal three at Haneda Airport.

JAL said the initiative will help "address social issues such as congestion in public transportation and the shortage of storage lockers," as well as making life easier for tourists.

The "Baggage-Free" service, which is also available for Japanese residents, covers 14 districts in Tokyo including Shinjuku.

Shibuya Shopping District, Tokyo, Japan
Japan has been very popular with tourists this year.

Rasmus Jurkatam/Getty Images

Millions of visitors have been flocking to Japan to take advantage of the weak yen.

The Japanese government expects to surpass its target of 32 million visitors this year following a very busy summer, with a record 3.2 million tourists in July, about 66% more than the same month in 2023.

Just over 250,000 Americans visited in July, up 26% year-on-year.

Amrita Banta, managing director of luxury insights firm Agility Research & Strategy, previously told BI that luxury and designer stores in Tokyo were proving popular.

Banta, who visited Tokyo in the summer, said high-end stores started admitting customers by appointment to cope with demand.

This photo taken on May 20, 2024 shows tourists crowding the pavement to take pictures of Mount Fuji from opposite a convenience store in the town of Fujikawaguchiko, Yamanashi prefecture.
People taking photographs of Mount Fuji in Fujikawaguchiko.

KAZUHIRO NOGI/AFP via Getty Images

Neighborhoods such as Shibuya and Harajuku in Tokyo are busier than ever, with higher prices at restaurants and hotels triggering frustration and anti-tourist sentiment among some residents.

Some places in Japan are taking steps to mitigate the impact of over-tourism.

In May, a mesh barrier was erected in the town of Fujikawaguchiko to block views of Mount Fuji for tourists gathering in crowds, leaving trash, and ignoring traffic signs.

Foreshadowing its luggage delivery service, JAL started offering tourists free flights in September to lesser-known destinations in Japan.

That move may not help solve the overtourism problem, Ben Julius, the founder of tour operator Tourist Japan, previously told BI.

"The majority of visitors are first-time visitors. And when people visit Japan for the first time, they won't miss the must-see cities," he said.

Read the original article on Business Insider

19 unforgettable images from the Pearl Harbor attack 83 years ago

USS West Virginia pearl harbor
The USS West Virginia burns in Pearl Harbor.

US Navy

  • The Japanese surprise attack on Pearl Harbor began at 7:48 a.m. on December 7, 1941.
  • The attack killed some 2,400 Americans and wounded many others, while sinking four battleships.
  • Photographs show the immediate aftermath of the attack that drew America into World War II.

December 7, 1941, began as a perfect Sunday morning for the troops serving the US fleet at Pearl Harbor.

Under a early morning South Pacific sun, softball teams were lining up on the beach. Pitchers warmed up their arms, while batting rosters were finalized and the wives and kids came over from seaside church services.

They did not know that for hours the Japanese naval fleet and air forces had been speeding across the ocean toward America's Pacific base. There, like a string of pearls draped across the docks and waterfront, was the majority of America's naval might.

The devastating Japanese onslaught began at 7:48 a.m., eventually killing 2,402 Americans and wounding many others, sinking four battleships and damaging many more.

The US promised never to forget this day of infamy. The attack spurred America into World War II, leading ultimately to Allied victory over the Japanese in the East and Nazis and other Axis powers in the West.

Here are photographs from the attack on Pearl Harbor and its immediate aftermath.

Amanda Macias and Kamelia Angelova contributed to an earlier version of this story.

On the morning of December 7, 1941, an attack planned by Adm. Isoroku Yamamoto to demobilize the US Navy was carried out.
torpedo plane takes off from shokaku to attack pearl harbor
One of more than 180 planes used in the attack.

AP

Around 7 a.m., an Army radar operator spotted the first wave of the Japanese planes. The officers who received these reports did not consider them significant enough to take action.
aerial view of battleship row in the opening moments of the japanese attack on pearl harbor
An aerial view of Battleship Row in the opening moments of the raid.

US Navy

The Japanese hit most of the US ships in Oahu before 9 a.m.
pearl harbor
A Japanese plane flying over Pearl Harbor as black smoke rises from the area.

AP

The Japanese also took the opportunity to attack military airfields while bombing the fleet in Pearl Harbor. The purpose of these simultaneous attacks was to destroy American planes before they could respond.
pearl harbor, december 7. 1941, naval air station airfield
A naval air station airfield.

US Navy

More than 90 ships were anchored at Pearl Harbor. The primary targets were the eight battleships in Battleship Row.
pearl harbor, december 7, 1941, battleships on fire
Battleship Row during the attack.

US Navy

The USS West Virginia, left, was one of the battleships to sink during the attack. The Japanese successfully damaged all eight.
battleships pearl harbor
The West Virginia and the USS Tennessee.

US Navy

At about 8:10 a.m., the USS Arizona exploded as a bomb ignited its forward ammunition magazine. About half of the total number of Americans killed that day were on this ship.
pearl harbor
Explosions during the attack.

US Navy

Here's another picture of the USS Arizona sinking.
pearl harbor
The USS Arizona sinking.

AP

The USS Shaw, a destroyer, also exploded during the two-hour attack by Japan.
pearl harbor, december 7, 1941, destroyer shaw
The USS Shaw was also hit.

US Navy

The damaged USS Nevada tried to escape to open sea but became a target during the second wave of 170 Japanese planes, hoping to sink it and block the narrow entrance to Pearl Harbor. The ship was grounded with 60 killed on board.
uss nevada
USS Nevada.

National Archives and Records Administration

A Japanese plane hit by American naval antiaircraft fire was engulfed in flames. Fewer than 30 Japanese planes were lost in the attack.
pearl harbor
A Japanese plane on fire.

AP

About 190 US planes were destroyed, and another 159 were damaged.
pearl harbor damage
Hickam Field near Pearl Harbor.

AP

Sailors at the Naval Air Station in Kaneohe, Hawaii, attempted to salvage a burning PBY Catalina in the aftermath of the Japanese attack on Pearl Harbor.
pearl harbor, december 7, 1941, sailors at naval air station
PBY Catalina, an amphibious aircraft.

US Navy

People in New York's Times Square bought newspapers with headlines like this one, "Japs Attack US." The US entered World War II after the surprise attack.
pearl harbor, december 7, 1941, headlines, new york
News soon reached the East Coast.

AP

Salvage work soon began on the destroyers USS Cassin and USS Downes. The Japanese failed to damage any US aircraft carriers, which weren't in the harbor.
pearl harbor damage
Damage from the attack.

US Navy

About 10% of Japanese planes were lost on December 7, 1941.
pearl harbor damage
A Japanese torpedo plane was hoisted from the bottom of the sea.

AP

The USS Oklahoma was considered too old to be worth repairing.
pearl harbor, december 7, 1941, battleship oklahoma
One of the Oklahoma's propellers peeking out from the water.

US Navy

Here, a Marine holds a piece of shrapnel removed from his arm after the attack.
pearl harbor marines
More than 1,100 service members were wounded.

US Marine Corps

Sailors participated in a memorial service for the more than 2,400 Americans killed in the attack.
pearl harbor
The attack killed some 2,400 Americans and wounded many others.

Library of Congress

Read the original article on Business Insider

10 travel destinations you need to visit in 2025 — and what to do when you're there

Iceberg floating in Greenland fjord with aurora borealis.
Greenland is one of the 25 destinations in National Geographic's Best Places to Travel to in 2025 report.

muratart/Shutterstock

  • National Geographic shared a list of best travel destinations for 2025.
  • Cities like Bangkok, Thailand; Kanazawa, Japan; and Brasov, Romania, made the list.
  • BI spoke with travel experts who shared their tips on how to best explore each of these spots.

The best trips are often a result of well-planned itineraries tailored to your tastes.

So when National Geographic published its annual Best Places to Travel report for 2025, unveiling 25 global destinations, we knew the ideal way to explore some of these spots would be to hear from experts.

Business Insider chose 10 places on the list and spoke to destination-specific travel experts to devise the best plan for each place, including what to do, where to stay, and what to eat.

Whether you enjoy exploring the ocean or prefer luxury train tours traversing through tiny towns, the guide incorporates a range of experiences across continents.

Here are some of the top spots to visit in 2025 and the best things to do there.

Antigua, Guatemala
Aerial view from the English Harbour viewpoint in Antigua.
Aerial view from the English Harbour viewpoint in Antigua.

Marco Bicci/Shutterstock

With its storied past and vast natural beauty, Antigua offers activities for people of all ages. But the best way to explore the island is to opt for private guided walking tours, says Carolyn Weppler, the senior vice president at Goway Travel, a travel agency that helps curate travel itineraries.

What to do: Visit two 17th-century landmarks, the San JosΓ© Cathedral Antigua and Convento Santa Clara, says Weppler, or make a photo stop at the yellow-hued Iglesia de La Merced.

For those who prefer to stroll and shop, the streets surrounding Arco de Santa Catalina, the famous archway, are filled with artisan boutiques offering handwoven goods, colorful tableware, and clothing.

Finally, Weppler advises you spend a full day visiting Lake AtitlΓ‘n and the town of San Juan La Laguna.

"The town is essentially run by women, the weaving industry is thriving, and there is art everywhereβ€”on buildings, in shops, and woven into the landscape," said Weppler.

Where to stay: Villa BokΓ©h, located on the outskirts of Antigua, is an upscale colonial-era hacienda perfect for families or large groups, says Weppler. However, if you prefer a boutique hotel, Posada Del Angel, which Weppler says is "known for its charm and hospitality," is another option.

Where to eat: The best place to experience local cuisine is at the outdoor food markets, which Weppler says are "thriving, colorful, and a maze worth exploring." Her favorite local dishes to sample at the market include stews like hilachas and pepiΓ‘n, tamales called chuchitos, and sweets like canillitas de leche.

Por QuΓ© No, a small family-run restaurant six blocks from the main square in Antigua, is another one to add to your list. "It's delicious and offers vegan options for travelers with dietary restrictions," said Weppler.

When to go: While the island enjoys tropical weather all year round, the best way to experience it is during late winter and early spring, from December to April, when there's little to no rainfall. For those who enjoy experiencing festivals, the annual Antigua Sailing Week and International Kite Festival both take place in April.

Ocala National Forest, Florida
An aerial view of Silver Glen Springs in Ocala National Forest.
An aerial view of Silver Glen Springs in Ocala National Forest.

Ocala/Marion County Visitors & Convention Bureau

Spanning nearly 385,000 acres, Ocala National Forest highlights a unique side of Florida in contrast to its famous beaches and theme parks.

Jessica Heller, a marketing and communications supervisor at Ocala/Marion County Visitors and Convention Bureau, says the forest's remote location makes it ideal for those looking to skip overcrowded tourist spots next year.

What to do:Β Swim or snorkel in one of the forest's four natural springs fed by the Florida aquifer that stay at 72Β°F year-round. Heller recommends checking out each spring β€” Silver Glen, Juniper, Alexander, and Salt SpringsΒ β€” to experience their "distinct personalities."

Hiking enthusiasts can take various trails, such as the Florida Trail or the Cross Florida Greenway, which cuts across the forest.

If you visit during the holiday season, between Thanksgiving Day and Christmas Eve, you can cut your own Florida sand pine to take home.

Where to stay: While most people prefer to camp in the forest β€” Salt and Juniper Springs being the top camping spots β€” those who prefer hotels to tents and RVs can opt to stay at the Hilton Garden Inn in the downtown square.

For a more upscale experience, The Equestrian Hotel, a 60-minute drive away, offers a great escape and easy access to the World Equestrian Center.

Where to eat:Β Downtown Ocala has many dining options, but Heller recommends trying out La Cuisine for French-inspired fine dining or District Bar & Kitchen if you prefer a more relaxed vibe.

Closer to the forest, Lena's, located on the Florida Black Bear Scenic Byway (open from October to June), is a local favorite for seafood.

When to go: According to Heller, January through March is the best time to visit if you'd like to watch horse shows. However, that's also when hotels are most expensive.

But if you're looking to bike, hike, or enjoy any water activities, Heller suggests planning your trip around wintertime. The end of summer β€” when it's not too hot β€” is most popular for springs.

"We even have a tubing season," said Heller, adding that their natural version of lazy river tubing is open from April through September.

Bangkok, Thailand
Wat Arun is a Buddhist temple in Bangkok.
Wat Arun, a popular tourist spot, is a Buddhist temple in Bangkok.

Pinglabel/Shutterstock

From floating markets and temples to food tours, Bangkok offers a range of exciting activities.

Jack Tydeman, a Southeast Asia specialist at Audley, a travel agency, has visited Thailand over 20 times and has firsthand experience living and working there. He told BI that his suggestions for visitors usually include a mix of cultural and outdoor activities focusing on sustainability and support for local businesses wherever possible.

What to do: Most people prefer hopping on tuk-tuks to navigate the city, but for an off-beat experience, Tydeman recommends taking an eco-friendly Khlong tour. He says the boat tour will make you "feel like you're suddenly in rural Bangkok even though you're in the heart of the city" as you cruise past wooden shops, temples, and floating street food vendors.

The tour with Audley begins after breakfast and lasts about six hours, ending with lunch at Poomjai Garden, a 100-year-old family-run restaurant.

For street food enthusiasts, Tydeman suggests exploring Banthat Thong Road, where you can try everything from spicy soup and Thai-style castellas to fluffy omelets.

But if outdoor adventure appeals to you, Tydeman suggests driving out of town to the Khao Yai National Park, where, apart from trekking, wildlife spotting, and jungle hiking, you could also spend the day at a nearby local vineyard or mango farm.

Where to stay: The Siam Hotel, designed by landscape architect Bill Bensley, is set on the banks of the Chao Phraya River and offers private pool villas as well as curated workshops such as sak yant tattoo β€” a traditional Thai tattoo design β€” or wet plate photography for its guests. It's a standout alternative to the typical 5-star properties, says Tydeman.

For a beachfront escape, consider The Six Senses Yao Noi, which Tydeman described as "a destination experience." Guests on-site can enjoy cinema screenings on the beach, private yacht charters, and a holistic spa with personalized wellness plans.

Another unique option is the transparent Jungle Bubbles experience at Anantara Golden Triangle, where guests can stargaze among elephants at night from their bubbles.

Where to eat:Β From a 10-course Michelin tasting menu at Sra Bua by Kiin Kiin to a touring local establishment for pad Thai and other specialties, there's no shortage of food options in this city.

Tydeman recommends Ann Guay Tiew Kua Gai for its egg noodles and Pad Thai Fai Talu for its standout pad Thai. To end your evening, he suggests soaking in city views with Thai beer at the Above Riva bar.

For something adventurous, consider reserving a table at Dine in the Dark, where you'll enjoy local and international food items in β€” you guessed it β€” complete darkness.

When to go: November to February is the best time to visit the city.

Raja Ampat, Indonesia
Fishes swimming underwater in Raja Ampat, Indonesia.
Raja Ampat is home to a vibrant and diverse marine life ecosystem, where visitors can witness everything from colorful coral reefs and whales to sea turtles.

kkshxt/Shutterstock

If your idea of a holiday is to escape the daily hustle and explore life underwater, then Raja Ampat offers the most diverse aquatic experience.

"The waters around Raja Ampat are like no other," said Ellie Khoury, a senior travel designer for Asia Pacific at Jacada Travel.

What to do: Raja Ampat is home to vibrant coral reefs, jellyfish lakes, majestic manta rays, and various other colorful sea animals. The best way to explore this rich habitat, says Khoury, is by deep-sea diving or snorkeling.

Above the surface, Khoury says you can enjoy spotting "rare birds of paradise," hike up to viewpoints for panoramic views of the archipelago, swim in the turquoise waters of river Kali Biru β€” home to monkeys, birds, and butterflies β€” and visit the oyster pearl farm in Aljui Bay to see how pearls are cultivated.

Where to stay: For the most immersive experience, Khoury recommends chartering a luxury boat, which allows you to customize your itinerary.

"One of my favorite private charters," said Khoury, "is theΒ Alexa Luxury Yacht, an old Phinisi-style sailing boat that was once a vessel shipping spice between the Indonesian Islands." It is a good option for couples and honeymooners.

For those who prefer to join a small shared yacht, Khoury recommends the AquaBlu, a former British Naval Explorer transformed into an intimate 15-cabin vessel.

Where to eat:Β From traditional Indonesian cuisine to seafood staples, the archipelago offers a variety of options to choose from; the most popular dishes include fried fish, satay (grilled meat skewers), and fried banana.

When to go:Β TheΒ best time to sail is between November and early April, says Khoury, but for peak marine encounters, including whales and manta rays, she recommends planning your visit between December and February.

Cenobitic monasteries, Italy
A Cenobitic Monastery in Italy.
The Sacra di San Michele, one of Italy's leading centers of Benedictine spirituality, is in the lower Susa Valley.

Andrea Frazzetta for National Geographic

Italy is a top tourist spot known for its beaches, architectural splendor, and fresh food.

But in 2025, the year of the jubilee in Rome β€” a religious event that happens once every 25 years in which all four of its papal Basilicas open their doors β€” it's also set to become popular for its spiritual activations.

"It's a massive year for pilgrimage," said Grace Harrex, the lead travel writer at Monasteries.com, adding that the city will host around 40 million pilgrims.

What to do: Cenobitic monasteries are religious communities where monks or nuns live together, focusing on prayer, work, and spiritual growth.

"You can join in morning prayers, help with daily chores, and share meals with the community," said Harrex, emphasizing that these visits are often treated as spiritual experiences rather than vacations.

Other noteworthy sites include Monte Cassino Abbey, a key pilgrimage site founded by St. Benedict, just two hours from Rome, and the Abbey of San Paolo Fuori le Mura in Rome, one of the city's most important religious sites.

If you prefer a coastal city to Rome, the Foresteria Monastero Santissimo in Agrigento is a cenobitic community known for its architecture and proximity to the sea. "It's a bit more flexible than some other monastic stays but still offers an authentic spiritual experience," said Harrex.

Where to stay:Β Whether you're on tour to explore the spiritual side of Italy or prefer the more popular touristy spots, Harrex recommends checking into monastic guesthouses run by nuns for a new experience. If you're looking for affordable stays, theΒ Casa Il Rosario, located in the center of Rome, is a great option, as isΒ the San Giuseppe House, which offers easy access to major religious sites.

Where to eat: According to Harrex, cenobitic monasteries in Agrigento, Sicily, are known for their local produce and sweets like cannoli and granita. They also offer communal meals, which include simple, farm-sourced dishes representing their lifestyle.

When to go:Β Spring and fall β€” March through May or early September through November β€” are the best times to escape the scorching summer heat, said Harrex, adding that it is best to avoid summer and especially August since that's when most people in Italy take time off, and many local businesses remain closed.

Los Angeles, California
"Hey Young World," a mural painted on the side of a local business in the Crenshaw neighborhood β€” is just one of several artworks commissioned by Destination Crenshaw, the largest public/private Black art program in the United States.
Destination Crenshaw is the country's largest public/private Black art project β€” showcased here is the mural, "Hey Young World," made outside a local business in Crenshaw.

Dareon Grace/Destination Crenshaw/National Geographic

Fashion designer Isabel Marant once said, "In Los Angeles, you can have the city life and feel like you're on holiday at the same time."

Kelly Miller, the president and CEO of Visit Huntington Beach, attests to the city's laidback yet outgoing lifestyle.

What to do: Whether you enjoy surfing, shopping, or just strolling past streets, LA has something for everyone.

Explore the iconic Rodeo Drive, lined with luxury shops, public art, and upscale restaurants, or relax at one of the city's many beaches.

If you prefer to immerse yourself in art and culture, the Miracle Mile, home to several well known museums, is worth a day trip.

Where to stay: Miller says the Hyatt Regency Huntington Beach Resort and Spa is ideal for couples and families. If you prefer something closer to downtown or the heart of the city, The Hoxton is just a few miles away from key travel hubs and attractions.

Where to eat:Β One perk of visiting LA is being able to sample a multitude of cuisines all in one place. You could begin with Italian staples at Dan Tana's or enjoy a plate of tacos at MΓ­rate.

For couples looking to escape the city, Miller recommends the newly launched Lōrea restaurant in Huntington Beach. Here, diners can enjoy a meal while taking in views of the Pacific.

When to go: September through November is the best time to visit, per Miller. This way, visitors can avoid peak season but still experience amazing weather.

Greenland
A little village featuring colorful homes on the coast of Tasiilaq, East Greenland.
A small village featuring traditionally color-coded homes on the coast of Tasiilaq, East Greenland.

muratart/Shutterstock

"This year, we've seen Greenland and Scandinavia become some of the most popular destinations for what we're calling 'cool-cations,'" Duncan Greenfield-Turk, CEO of Global Travel Moments, told BI.

Now, with United offering direct flights from Newark to Nuuk, Greenland, starting June 2025, it is predicted to amass the same popularity as some of its neighboring destinations, like Spain and Iceland, The Wall Street Journal reported.

What to do:Β The Ilulissat ice fjord, a UNESCO World Heritage Site, offers some of the country's most beautiful views. Visitors can travel to it by boat or helicopter.

Those who enjoy outdoor activities can hike to Sermermiut Valley, where you can see ancient Inuit settlements and views of the ice fjord's edge.

Traveling to see the northern lights? Take a Kangerlussuaq northern lights Safari tour for the best viewing chance. Greenfield-Turk says it is an ideal spot for viewing the Aurora Borealis, especially from October to April.

But amid the array of nature experiences, don't forget to explore the country's capital city, Nuuk, which, according to Greenfield-Turk, "offers a unique glimpse into modern Greenlandic life." Nuuk is also home to a rising tech and innovation scene focused on sustainability.

Where to stay: Would you enjoy living in igloo-style cabins? Hotel Arctic, an upscale hotel based in Ilulissat, offers this experience alongside incredible views of Disko Bay and the ice fjord.

For those who prefer budget-friendly finds, the HHE Express in Nuuk offers a clean and minimalist space and is steps away from the National Museum and several local cafΓ©s.

Another pocket-friendly alternative is to stay at community-run guesthouses, which allow visitors to interact with locals.

Where to eat: Ulo at the Hotel Arctic serves dishes such as Arctic burgers made using reindeer meat, Arctic char, and musk ox, highlighting regional ingredients and culinary traditions with a contemporary twist.

But if you prefer to sample some of the street food, then Greenfield-Turk suggests heading to Kalaaliaraq Market, where you can try everything from dried fish and whale meat to seal blubber.

When to go: According to Greenfield-Turk, summer (between June and September) is perfect for outdoor activities like hiking, sailing, and exploring ice fjords. However, October to April is ideal for seeing the northern lights or experiencing winter activities like dog sledding.

Kanazawa, Japan
Higashi Chaya district in Kanazawa during winter.
Higashi Chaya district in Kanazawa during winter.

Sean Pavone/Shutterstock

What to do: Start at the renowned Kenroku-en Garden and nearby Kanazawa Castle, a quintessential Japanese feudal fortress, or, if you're an art enthusiast, watch the ancient art of Yuzen silk painting at Kaga Yuzen Kaikan, ending the day with a visit to Nagamachi Samurai District.

Travel experts at Enchanting Travels recommend stopping by the Nomura Samurai House, a historic home that features a traditional Kanazawa-style tea room, courtyard garden, and Edo-period artifacts.

In the Higashi Chaya District, Kanazawa's geisha quarter, explore cafΓ©s and shops, especially those that sell gold leaf products, a specialty of Kanazawa. End the day with green tea at the Shima Teahouse or experience a traditional tea ceremony hosted by a sado expert in a tearoom.

Where to stay: Kanazawa Chaya Ryokan, located five minutes from JR Kanazawa Station, offers a luxurious spin on traditional Japanese-style inns. During your stay, you'll be provided a yukata β€” a cotton kimono β€” slippers, access to a relaxing onsen (hot springs), and kaiseki meals made from fresh local ingredients.

Closer to Omicho Market, there's Hotel Nikko Kanazawa, which has a more modern appearance but offers spacious rooms with incredible city views.

Where to eat: Enchanting Travels experts say Tsubajin, which was established in 1752, is a "legend in Kanazawa," most popular for its refined Kaga cuisine. Another top spot they recommended is Kagura, which they said serves excellent ramen.

When to go: To enjoy cherry blossoms in full bloom at Kenroku-en Garden and around Ishikawa Gate, a picturesque corner of Kanazawa Castle, mid-April is the best time to visit, per experts at Enchanting Travels. Late December to March is ideal for a visit to Shirakawa-go, a village that's about an hour from Kanazawa and, in winter, is home to several snow-covered gassho-zukuri farmhouses.

Eastern and Oriental Express, Malaysia
The interiors of a carriage cabin in the luxury train Eastern & Oriental Express.
Belmond's Eastern & Oriental Express briefly shut down during the COVID-19 pandemic but is now back on track.

Nicolas Quiniou/Belmond

Angela Walker, the vice president of operations at The Society of International Railway Travelers, first experienced Belmond's Eastern & Oriental Express in 2019, just before the COVID-19 pandemic. Back then, the train began its journey in Bangkok and ended in Singapore. Then, its services were shut down during the pandemic.

But since its reintroduction earlier this year, the luxury train's itinerary has been updated. Its round trips from Singapore travels through Malaysia. Recalling her experience from 2019, Walker told BI that she had an exceptional experience all around.

What to do: During the four-day journey, passengers can participate in excursions, from arts-focused tours to cooking classes, or, if you prefer, relax in the open-air observation car at the back of the train. "Sitting there with a cocktail, watching the scenery go by," was Walker's favorite part of her trip.

The train also features a luxury spa suite in collaboration with Dior, an experience Walker said only a few trains in the world offer.

Where to stay:Β You can select from three types of cabins, depending on your preferences and budget.

Walker said the state cabins are best for couples. They feature twin beds that convert into sofas during the day, an ensuite bathroom, and ample storage.

If you're celebrating a special occasion or prefer a more upscale experience, the presidential suites offer free-flowing Champagne and caviar and a 24-hour butler service, among other luxury amenities. The rooms and bathrooms are also much more spacious.

The most budget-friendly option is the Pullman cabin, which fits two people in one room on upper and lower berths. While they're cozy, Walker does not recommend them for travelers with mobility restrictions.

Where to eat:Β Two restaurant cars are on board, serving regionally inspired dishes with a modern twist as part of a menu created by chef AndrΓ© Chiang.

When to go:Β Walker recommends visiting between November and April, when the weather is more likely to be dry and slightly less humid.

Brasov, Romania
View of the old town and Tampa mountain in Brasov during winter.
The old town and Tampa mountain in Brasov during winter.

SCStock/Shutterstock

Corina Leslie, a PR manager at email-services company ZeroBounce, is a native of Vulcan, a village 20 minutes from Brasov. Although she lives in the US now, she grew up in Romania and has personal, off-beat recommendations for those planning to visit this European nation.

What to do: Stroll through the streets of Republicii and MureΘ™enilor to explore the city's local shops and cafΓ©s, especially PiaΘ›a Sfatului, which Leslie described as the "vibrant heart" of the old town.

Next, visit one of Romania's largest Gothic churches, theΒ Black Church. For a scenic, relaxing spot, head to PiaΘ›a George Enescu.

Vulcan, a quaint village, and Holbav, which is a 10-minute drive away, make for a perfect half-day outing, offering an authentic taste of Transylvania.

Where to eat: Leslie recommends trying the "Deliciu" cake, homemade fudge bars, and cookies at Vatra Ardealului bakery, opposite the Black Church.

For lunch or dinner, she recommends the Domeniul Valea MerilorΒ in RΓ’Θ™nov, which serves local dishes and offers great views of the town.

When to go: For a cozy, snow-covered experience, Leslie recommends planning your trip around wintertime, between December and February. If you prefer milder weather, then May to September is ideal.

Correction β€” December 19, 2024: An earlier version of this story misstated the route taken by Belmond's Eastern & Oriental Express. It starts and ends in Singapore and travels through Malaysia; it does not start in Malaysia and end in Singapore.

Read the original article on Business Insider

Tokyo is giving its employees a 4-day workweek to try to boost record-low fertility

A pregnant woman in Japan holding her belly
Japan has a declining fertility rate.

Oscar Wong/Getty Images

  • Tokyo is introducing a four-day workweek to help boost fertility rates and support women.
  • It's also rolling out a policy to allow parents to sacrifice salary in exchange for shorter days.
  • Japan faces a declining fertility rate. It had just 758,631 births last year, a record low.

As Japan grapples with a record-low fertility rate, Toyko's government is trying new strategies to try to encourage women to have more children.

The capital's government is introducing a four-day workweek starting in April next year, in effect offering state employees a three-day weekend.

The policy applies to the more than 160,000 employees of the Tokyo Metropolitan Government, one of Japan's largest employers.

"We will continue to review work styles flexibly to ensure that women do not have to sacrifice their careers due to life events such as childbirth or child-rearing," Tokyo Gov. Yuriko Koike said in a speech on Wednesday, according to a translation by the Japan Times.

The local government also said that it would allow parents with children in grades one to three of elementary school to sacrifice some of their salaries in order to finish work early each day.

The Japan Times said this would allow parents to reduce their working hours by up to two hours a day.

The measures intend to ease the burden of child-raising for working mothers.

"Empowering women, a goal that has lagged far behind the rest of the world, has been a long-standing issue in our country," Koike said, per the Japan Times.

Japan is one of the oldest countries in the world, with its population rapidly aging due to a combination of long life expectancies and low fertility rates.

Japan's fertility rate sank to a record low of 1.2 in 2023, far below the global replacement rate of about 2.1.

The replacement level is generally required to sustain a population over time, barring massive fluctuations in mortality rates or large-scale immigration.

According to Japan's Health and Welfare Ministry, 758,631 children were born in the country last year, the eighth consecutive year of decline.

Then-Prime Minister Fumio Kishida called the decline "the biggest crisis Japan faces."

The International Monetary Fund said in May that many reasons contributed to the decline in fertility rate and births, including later and fewer marriages, as well as the high cost of living, a large gender wage gap, and expensive childcare.

Japan's government has spent billions on initiatives aimed at reversing these trends, such as improving access to childcare services and promoting egg freezing.

The local government in Toyko announced earlier this year the launch of a dating app that requires users to verify their income and desire to get hitched, in the hope of fostering more marriages.

Meanwhile, other Asian countries grappling with similar declines in marriage and fertility rates have introduced their own creative methods to try to help single people find a match.

South Korea, for example, is spending heavily onΒ preventing loneliness,Β as well as offering money to reverse vasectomies and providing subsidies to new parents.

Read the original article on Business Insider

The top arms dealers in South Korea and Japan are growing almost as fast as those in Russia

The KH178, a South Korean 105mm light self-propelled howitzer, is on display at the Eurosatory Defense and Security expo in June.
South Korean firm Hyundai Rotem is producing the KH178, a self-propelled howitzer. Such artillery guns have particularly been in demand among European nations like Poland.

Artur Widak/NurPhoto via Getty Images

  • South Korean and Japanese arms dealers are growing almost on pace with Russia's top defense firms.
  • New data found that South Korea's and Japan's arms revenues jumped by 39% and 35% respectively.
  • The data underscores an aggressive push by Asian firms to fill recent gaps in arms manufacturing.

The top defense manufacturing firms in both South Korea and Japan saw growth rates of nearly 40% in 2023, nearly on pace with that of the top arms dealers in Russia, per a new report.

Data published on Monday by the Stockholm International Peace Research Institute found that the top four South Korea-based firms recorded a combined 39% increase in revenue over the year, while the top five Japanese defense firms saw a combined 35% increase.

In comparison, the two top Russian defense enterprises saw a combined 40% revenue increase from 2022 to 2023 and higher revenues. SIPRI attributed the production spike to the huge expenditures required by Russia's invasion of Ukraine.

The institute analyzed public data on the world's top 100 defense firms by revenue and found that arms revenues across all regions increased by 4.2% in 2023.

Its findings show how rapidly defense industries in Japan and South Korea β€” two key US allies β€” have stepped in to fill demand for arms and equipment since the outbreak of recent conflicts like the Ukraine war. The five largest US arms makers top SIPRI's list, but saw slower rates of growth.

Still, Xiao Liang, a researcher at SIPRI, told Business Insider the data doesn't directly translate into military might.

"The true scale of Russia's arms industry is likely a lot larger, so the data presented provides only a general overview and not a detailed representation of the current state of the Russian arms industry," he wrote in an email.

Arms sales take off in South Korea and Japan

South Korean firms, in particular, have caught attention in the last two years for selling billions of dollars worth of artillery in Europe, where it's been in short supply due to Ukraine's dire need for ammo to counter Russia's firepower advantage.

Among the four South Korean companies on the list are industrial heavyweights such as the Hanwha Group and Hyundai Rotem.

"South Korean firms specialize in tanks, artillery, and armored vehicles, with both domestic and international export deals boosting revenue," Liang wrote.

These companies are typically known for producing weapons systems like the K239 Chunmoo rocket artillery system and the K9 howitzer. Poland, for example, purchased 72 K239 Chunmoo systems in April for $1.6 billion; these truck-mounted launchers can fire guided or unguided rockets.

Hanwha Group rose from 42nd place in the world in 2022 to 24th in 2023. It brought in $5.71 billion in arms revenue in 2023, up 52.7% from $3.74 billion in 2022, per SIPRI.

The K239 Chunmoo rocket artillery system of the South Korean military is on display at the Eurosatory Defense and Security expo.
Hanwha has been selling weapons like the K239 Chunmoo rocket artillery system to European countries. Poland placed a billion-dollar order for the MLRS this year.

Artur Widak/NurPhoto via Getty Images

According to SIPRI, much of the Seoul-based conglomerate's arms revenue was driven by its 2023 acquisition of one of South Korea's three biggest shipbuilders, DSME.

Five Japanese firms were listed among the world's top 100 defense firms. They include Mitsubishi Heavy Industries, which saw a 23.9% increase in arms revenue to $3.89 billion in 2023, and Fujitsu, which saw a 16.4% increase to $1.85 billion that year.

Liang said Japan's defense industry has benefited from a major increase in Tokyo's military spending policy. "Domestic orders for advanced systems have soared, further driving revenue growth," he said.

Mitsubishi Heavy Industries, for example, builds submarines and aircraft for Japan's forces, and saw new orders triple in 2023, Liang added.

Russia still leads in absolute figures

Still, the combined arms revenues of all nine Asian firms β€” about $21 billion β€” are eclipsed by the $25 billion in 2023 earnings reported by the Russian arms makers that SIPRI analyzed.

The institute didn't account for seven of the Russian enterprises that it listed in the Top 100 for 2022, saying that at this time, their "individual revenue data could not be obtained."

Liang wrote that the Russian defense industry has become increasingly opaque and that two major state-controlled firms β€” antiaircraft system maker Almaz-Antey and the Tactical Missiles Corporation β€” were no longer sharing their revenue data.

"Both companies probably have seen a significant rise in their revenue as they produce equipment categories in high demand due to the war such as air defense systems, artillery and missiles," Liang wrote.

SIPRI did cover two Russian state-owned firms: United Shipbuilding Corp and Rostec, a giant defense conglomerate that ranked seventh worldwide and oversees many arms producers.

SIPRI analysts said they normally wouldn't include data from Rostec, but listed it this time because it controls many of the arms manufacturers they could no longer gather data on.

The state-owned entity controls manufacturing for aircraft, electronic warfare systems, helicopters, and battle tanks.

Rostec's arms revenue grew 49.3% in 2023 to $21.7 billion, up from $14.5 billion in 2022, per SIPRI.

Meanwhile, United Shipbuilding Corp, which owns about two dozen shipyards and plants across Russia, paced behind the global revenue growth rate. It earned $3.7 billion in arms revenue in 2023, just 1.9% up from 2022.

Read the original article on Business Insider

The 10 best cities in Asia for expats

Singapore downtown buildings and cityscapes from Kallang area
Singapore was ranked 30 in Mercer's Quality of Living City Ranking 2024.

Calvin Chan Wai Meng/Getty Images

  • Mercer's Quality of Living City Ranking 2024 looks at factors such as political stability and healthcare.
  • There were 12 Asian cities that made it into the top 100 in the rankings this year.
  • Singapore was the only Asian city to make the top 50.

If you're considering moving to Asia, a new report can help determine which city would be the top choice.

Mercer, a human resource consulting service, recently released its yearly Quality of Living City Ranking, which ranks 241 cities across five continents. The ranking process considers factors such as political stability, healthcare, education, infrastructure, and socio-cultural environment.

In an era of remote work, the ranking also considered the cost of living in different cities.

Mercer said that the most "successful destinations" were those that "blend flexible governance around mobile talent with a high quality of life and an affordable cost of living."

Although many European cities were featured high on the list, with Zurich maintaining its top spot, 12 Asian cities made the top 100 this year. Singapore was the only city in Asia to make the top 50, at 30th position.

Take a look at the top 10 cities in Asia:

10. Abu Dhabi, United Arab Emirates (85th)

Abu Dhabi skyline with many modern skyscrapers in the UAE
Abu Dhabi is the capital of the UAE.

@ Didier Marti/Getty Images

Abu Dhabi recently ranked second, with Dubai taking first place, among the most popular locations for executive nomads, according to the Executive Nomad Index by real estate firm Savills.

The capital of the UAE is known for its modern skyline and shopping megacenters. Expats make up more than 80% of its population, per InterNations, a Munich-based expat network.

9. Taipei, Taiwan (85th)

Taiwan, Taipei
Taipei 101 was once the tallest skyscraper in the world.

chenning.sung @ Taiwan/Getty Images

Taipei, the capital of Taiwan, is tied with Abu Dhabi at 85th. Between 2019 and 2021, Taiwan was ranked first out of 59 destinations in the InterNations Expat Insider survey for the job security expats enjoy and the state of the local economy.

Alex Teachey, a New Yorker who moved to Taipei in 2020, previously told BI that he enjoys the city for its affordability.

"I live a 20-minute bike ride from my office β€” I never could have afforded anything remotely similar if I'd stayed in New York City," he said.

8. Dubai, UAE (83rd)

Dubai
The Burj Khalifa, the world's tallest structure, is located in Dubai.

Constantine Johnny/Getty Images

Known for its glitzy skyscrapers and modern architecture, Dubai is also an expat hotspot. According to the Dubai Statistics Center, 92% of its 3,655,000-person population are non-Emirati.

Expats in Dubai previously told BI that they liked the city for its convenience and ease of making friends. "There are so many interesting and new people to meet here with different perspectives than we're used to," said Kiran Ali, who relocated to the city with her family earlier this year.

7. Seoul, South Korea (81st)

A market in Seoul.
A market in Seoul, South Korea.

Maremagnum/Getty Images

Seoul, the capital of South Korea, clearly has more to offer than just K-pop. With a population of 9.4 million, the city is popular for expats seeking affordability and a rich culture.

Besides Seoul, Busan was the second city in South Korea to make the top 100, ranking 100th.

6. Hong Kong (76th)

Skyscrapers in Hong Kong
Hong Kong is one of the world's most densely populated cities.

George Hammerstein/Getty Images

Hong Kong is known for being a global financial center with a thriving food scene. It is also one of the most densely populated cities in the world, with an overall density of around 17,311 people per square mile.

Kaitlyn Cheung, who moved from California to Hong Kong, previously told BI that she was impressed by the country's efficient public transport system and found the city to be diverse. "I routinely made friends from all over the world, which allowed me to broaden my horizons and learn about different cultures," she said.

5. Nagoya, Japan (74th)

Nagoya skyline
Nagoya is located between Kyoto and Tokyo.

Taro Hama @ e-kamakura/Getty Images

Located in the center of Japan, Nagoya is the capital of Japan's Aichi Prefecture with a population of 2.3 million people.

LaJuan, a content creator, moved to a shoebox apartment in the city and pays $230 a month in rent. He appreciates the city's slow and simple pace of life.

"Nagoya, to me, is a perfect balance of both city life and just having some space for yourself," he told BI.

4. Osaka-Kobe, Japan (68th)

Dontobori Osaka
Dotonbori, a popular district in Osaka.

Β© Marco Bottigelli/Getty Images

Osaka is a port city known for its nightlife and history. It's Japan's second-largest metropolitan area after Tokyo. Kobe, a city known for beef, is 22 miles from Osaka, or just 12 minutes away by the Shinkansen bullet train.

Grace Cheng, who visited Japan 11 times, said Osaka is ideal for foodies. "Whenever I go there, my sole mission is to eat," she told BI, adding that she recommends the city's tonkatsu and takoyaki.

3. Yokohama, Japan (58th)

Yokohama
Yokohama is a port city near Tokyo.

Taro Hama @ e-kamakura/Getty Images

Located less than 20 miles south of Tokyo, Yokohama is a port city with skyscrapers and is home to Japan's biggest Chinatown.

The district around Yokohama Station earned the top spot for livability in the Greater Tokyo rankings by Recruit Co., a Toyko-based human resource service, for seven consecutive years, per local reports. The same survey found that reasons for wanting to live in the area include the availability of cultural facilities and large-scale shopping complexes.

"Yokohama was so safe that I took public buses by myself at 8 to meet friends in different parts of the city," Alicia Erickson, who moved to the city as a kid, told BI.

2. Tokyo, Japan (56th)

Shibuya pedestrian crossing and city lights, Tokyo, Japan
Shibuya crossing in Tokyo, Japan.

Marco Bottigelli/Getty Images

The capital of Japan is home to over 14 million residents and is easily recognized for its neon-lit skyscrapers and busy streets.

David McElhinney, who moved to Tokyo in 2018, was surprised by cultural differences. He added that knowing how to speak a little Japanese goes a long way in the city. "Big cities β€” especially ones as dynamic, complex, and multifaceted as the Japanese capital β€” always bring new surprises," he said.

1. Singapore (30th)

Shophouses in Singapore
Singapore is a small island country around the size of Atlanta.

Caroline Pang/Getty Images

Singapore, a small island nation in Southeast Asia, was ranked the highest among Asian cities on the list. Widely hailed as the "most expensive city," Singapore's foreign workforce makes up around 30% of its population of 6 million.

Nick Burns, who transferred from San Francisco to Singapore, said he appreciates the city for its affordable healthcare, safety, and hawker food. "I can't see us leaving anytime soon," he said.

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He bought a ski house in Japan for $6,000. He says people shouldn't buy them just because they're cheap.

The renovated exterior of the house.
Matt Guy bought a traditional Japanese house in a ski town in Japan.

Matt Guy.

  • Matt Guy moved to Japan in 2023 and bought a traditional house in a ski town for $6,000.
  • He lives in the two-story house β€” that was built in the '60s β€” with his Japanese partner.
  • He hopes that people will not buy property in Japan solely because it's cheap or trendy.

Matt Guy visited Japan for the first time during a six-week trip in 2010. Half of the visit was spent snowboarding, while the other half was spent exploring the country.

At that time, Guy β€” who was born in Australia β€” had already traveled to 30 different countries and lived in several places before, but Japan piqued his curiosity.

"I left the country feeling kind of different," Guy, 40, told Business Insider.

A man posing with a snowboard in front of a house.
Matt Guy first visited Japan in 2010.

Matt Guy.

He knew he wanted to explore and understand the country more deeply, which led him to move to Japan in 2014 and enroll in a one-year course to learn the language.

Slowly, the idea of relocating to Japan started to take root. In 2016, he returned as an English teacher and stayed for two years. But he was itching to see the world once again, so he left.

It wasn't until 2023 that he returned to Japan β€” and this time, for good.

"By the time I committed to making Japan my home, it wasn't on a whim. I came with knowledge, experience, and respect for a place I had grown to deeply love," he said.

House-hunting in Japan

At that time, Guy β€” who has a background in construction β€” was on the hunt for a permanent place to call home.

He had spent the past couple of years looking at listings in Japan and scouting out different areas where he wouldn't mind living.

"I would still be searching even when I was overseas," Guy said. "I spent all of that time shaping up what is most desirable to me and what ticks the boxes for me."

As someone who likes the outdoors and enjoys activities such as hiking, backcountry skiing, and snowboarding, he has always wanted to live in a ski town.

The exterior of the house.
The exterior of the Japanese home in the ski region of Myoko Kogen, before it was painted.

Matt Guy.

By a stroke of luck, a friend who owns a ski lodge near Myoko Kogen β€” a popular ski area in the Niigata prefecture β€” had invited Guy to spend the summer.

By the end of the season, Guy ended up finding his forever home.

"I came here without an intention to buy anything, but it just lined up that this house became available," he said.

He chanced upon the listing online after searching for property in the area.

The traditional two-story house, built in the '60s, was owned by a couple in their eighties, who were eager to show him around.

The before image of the living room.
The interior of the house before he renovated it.

Matt Guy.

"He's like, 'Come in, let me show you the good points of my house. If you open this window during the summer and that window, you get this cross ventilation coming through. This window gets the best sunshine,'" Guy said, recalling the previous owner's words. "It was incredible."

Guy says he bought the property for slightly under 1 million Japanese yen, or about $6,000.

"One of the things that I wanted was to live in a ski town up on the hill. I want the ski lift and the chairlift to be there," Guy said. "But as I've spent more time in the mountains, I've realized that if I come down a little bit, away from the more popular area, I'd be able to save money, and enjoy other benefits too."

For instance, it doesn't snow as heavily where he is.

"I don't have to clear snow. Some of my neighbors up the hill do," he said. "There are fewer insects; there are fewer woodpeckers that destroy your house. There are no bears here."

Rural but convenient

Guy β€” now a content creator who makes videos about off-the-beaten-path destinations in Japan β€” lives in the house with his partner, who is Japanese.

The renovated exterior of his house.
Guy now lives with his Japanese partner.

Matt Guy.

The house was largely move-in ready, save for the bathroom, which had some termites, he said.

"Everything else could have been left as it was. There was really no renovation necessary," Guy said.

However, he had his own idea of how he wanted the place to look, so he made some changes to the interiors.

"I recently renovated my bathroom and my shower room, and I made it out of Hinoki Japanese wood, and now that's become one of my favorite spots in the house," he added.

The after image of the living room.
He can see the ski slopes from his window.

Matt Guy.

Even though the area he lives in is considered rural, there are still plenty of amenities around.

"For example, my next-door neighbor is a sushi restaurant. Two doors down, there's a soba restaurant. My local hospital is about 35 seconds walk away. The pharmacy is across the street from that. The post office is 15 seconds walk away," Guy said. "So it's all very convenient."

To get to Tokyo, all he has to do is hop on the Shinkansen, bullet train, and he'll be there in about two hours, he said.

A more present and intentional life

Since moving to Japan, Guy says he's found himself living a life that's more connected to the present.

For instance, the way that Japanese culture celebrates the changing seasons has encouraged him to focus less on what's next and more on what's happening now.

"This shift has brought a deeper sense of gratitude for everyday moments, whether it's enjoying a seasonal meal or taking part in a local tradition," he said.

The kitchen.
Living in Japan has taught him to be more patient.

Matt Guy.

He's also grown to be more patient since Japanese culture emphasizes politeness and respect in daily interactions.

"Whether it's waiting your turn to speak, carefully listening, or queuing for a train or a popular restaurant, patience becomes second nature," Guy said. "The value placed on maintaining harmony also means situations are often handled calmly and thoughtfully, which has taught me the value of slowing down and considering others."

Japanese society also views people as equals, regardless of their jobs, he said.

"Whether you are a bus driver or a doctor, you're very much treated with just as much respect as anybody else," Guy said. "People know that you're needed to operate. You are still part of the system needed to make everything work smoothly."

Playing a part in the community

Guy says one of the biggest things people should consider is that buying a house in Japan means participating in the local community.

"I think it's important to think about how you are a contributor to the community," Guy said. "It cannot be an entirely selfish approach of 'I just want a cheap ski house in Japan.'"

The ski slopes in his area.
Guy says he always wanted to live in a ski town.

Matt Guy.

For instance, Guy and his neighbors meet every three months to do community service, such as cleaning the streets together.

"I think the first question is, 'How can I be valuable to the community that I live in?' And it's got to go beyond teaching English to people who don't ever need to use English in this community. It's got to go beyond cooking them things or baking them cookies," Guy said.

It's important that people consider their decision carefully before buying a house here, especially since it's quite a trend right now, Guy β€” who also does property consulting on the side β€” said.

According to Japan's Ministry of Justice, 2,604 Americans moved to the country in 2023, bringing the total number of American expats in Japan to 63,408.

Four Americans told BI previously listed the country's safety standards and relative affordability as their reasons for making the move. Some of them even buy and renovate one of the country's 8 million cheap abandoned homes.

He hopes people who purchase property in Japan do so because they genuinely love the country and its culture, and want to contribute to it β€” not just because they like the aesthetics of owning a house there.

"Buying a house in Japan is not just a financial transaction; it's a cultural exchange that affects both the buyer and the surrounding area," Guy said. "My hope is to see Japan maintain its unique character and charm rather than having homes purchased solely because they are inexpensive."

Have you recently relocated to a new country and found your dream home? If you have a story to share, contact this reporter at [email protected].

Read the original article on Business Insider

I uprooted my life and moved across the world to teach at a Japanese high school. These are the 3 things I learned, and why I'd do it again.

A composite image of Nic Lim's desk drawer as an assistant language teacher (ALT), and Lim in the classroom.
Nic Lim left his life in New Zealand to become an ALT, or Assistant Language Teacher, in Japan. He loved the country so much that he wrote a book about it.

Nic Lim

  • Nic Lim, a New Zealand author, uprooted his life in New Zealand to become a school teacher in Japan.
  • During his four years there, he weathered a pandemic and dealt with cultural and language barriers.
  • There are three things people interested in moving to Japan should be aware of, he said.

This as-told-to essay is based on a conversation with Nic Lim, an author from New Zealand who moved to Japan for four years to work as an English teacher. It has been edited for length and clarity. Business Insider has verified his employment history.

In 2019, fresh out of university, I left home in the thick of winter. After a long plane ride, I found myself sweating in the heat of a blazing Japanese summer, en route to what would be my home for the next years.

Before I left home in New Zealand, I'd lived in the same house, in the same city, for my entire life.

I won't sugarcoat it: I wanted more opportunities, and to go out into the world and see what it had to offer.

I've always loved manga, anime, and other aspects of Japanese culture. And having graduated with a media degree, I felt Japan was the place for me.

So, when I was 21 and fresh out of college, I decided to move. I applied for the Japan Exchange and Teaching (JET) Programme, which brings foreign graduates to Japan to work as assistant English teachers.

I was accepted to the program and moved to Koshigaya, a town in the central Saitama Prefecture.

There, I was suddenly exposed to a new culture, a new city, and a new language.

Here are three big lessons I learned from my four years living and working in Japan.

You're going to have to adjust to your new life, and fast

A view of the Japanese countryside during a walk Nic LIm took to get to his job as a visiting teacher at the Yoshikawa Minami Senior High School.
A view of the Japanese countryside during a walk he took to get to his job as a visiting teacher in Yoshikawa Minami, another part of Saitama.

Nic Lim

When I got to Japan, I noticed how limited the use of technology was in the classroom.

For example, our morning meeting notes were always printed on paper. Some of my fellow teachers didn't know how to use email, and that was one of the things that prevented us from switching up the system from printed meeting notes to digital documents.

On top of that, we were using ancient computers that were still running Windows 7. Some of the data was still stored on floppy disks.

Also, the scenes you see in manga where kids draw on blackboards are accurate. In the school where I taught, blackboards were the norm. I developed a hatred of having chalk on my fingers because it'd end up staining my suit with white smears.

The way people work at school was also a cultural gap I had to bridge.

Teachers in Japan also behave very differently from how I did, having grown up and gone to school in New Zealand. More traditional teachers conduct themselves strictly, and go by the book.

Meanwhile, I liked chatting in the hallways with the students, and my style of building rapport with the kids caused a bit of friction with some other staff members.

But I'm proud to say that my students began to trust me, and think of me as a friendly face they could approach. I think it's because people are more willing to mess up in front of their friends than they are in front of their teachers β€” and, by extension, more willing to learn.

Being proficient in Japanese before you leave for Japan is a major plus

Before I went to Japan, I did not know a lot of Japanese. I had a basic grasp of hiragana and the numbers, and in my part-time job at a sushi shop, I would count the pieces of sushi in Japanese to try to practice.

But that was about the extent of my proficiency.

Obviously, one of the advantages of being in Japan is that you're surrounded by Japanese people. It's a great opportunity to immerse yourself in the language β€” and I tried my best to learn as much of it as possible when I got there.

But my first language struggle hit pretty early on when there was a typhoon. While the government did a good job of offering information in English, at certain points, my phone would light up, an emergency alert would pop up, and it would all be in Japanese.

I'd look at it and think: "Do I need to run?"

It was daunting, being bombarded with emergency alerts that I just could not understand at all.

I also happen to have an extensive list of dietary restrictions. I'm allergic to wheat, gluten, eggs, nuts, and fish.

Lim has a long list of dietary restrictions, which made living in Japan more challenging.
Lim has a long list of dietary restrictions, which made living in Japan more challenging.

Nic Lim

If you know anything about Japanese cuisine, eggs, wheat, and fish are core culinary components. When I first got to Japan, I couldn't read the food labels in shops.

So that was rough β€” because I had no idea if food would potentially kill me without looking it up on a translator.

You may think you know Japan from the touristy photos people post on Instagram. You don't.

I think the image that a lot of people have of Japan is what you see in the media β€” the glitzy streets and neon lights of Tokyo and the shrines and red torii gates of Kyoto.

Beyond Japan's most romanticized elements, there are regular towns where people just go about their lives in their suburban neighborhoods.

Nic Lim hiked Mount Adatara in Fukushima to reach an onsen source.
Nic Lim hiked Mount Adatara in Fukushima to reach the source of an onsen.

Nic Lim

I've also traveled to places off the beaten track. I've hiked to the source of an onsen on Mount Adatara in Fukushima, and seen some of the more rural parts of the country that tourists don't often think to visit.

Some days, I would take my bike, pick a direction, and ride until I couldn't go any further. It was intensely freeing β€” and I encourage people to leave their comfort zone, and go on adventures like this at least once.

Living in Japan inspired me to write a book, "Gate at the End of Summer." I wanted to capture the feeling of the best days of one's high school life. It's rooted in the idea of enjoying one's youth, as best as one can β€” and not wanting summer to end.

I'd go back in a heartbeat

The scenery outside Lim's apartment, with trees and cherry blossoms.
The view from outside Lim's apartment.

Nic Lim

Of course, life in Japan wasn't perfect β€” no country is perfect β€” but I take the good with the bad. But what's stuck with me since I left in 2023 were the great experiences I had there.

I spent a lot of energy trying to make sure that my students could make the most of their time at school, and leave with happy memories. But I came out of it with beautiful memories of life in high school, too.

My teaching contract has ended, but I'd love to go back β€” if I ever get the opportunity to do so.

Read the original article on Business Insider

Nissan is having a terrible time, and Trump might be about to make it a whole lot worse

The 2025 Nissan Kicks
The Kicks is one of several models Nissan manufactures in Mexico.

Nora Naughton, Business Insider

  • Nissan is facing a fight to turn around its ailing business after sales and profits plunged.
  • Trump's proposed tariffs on Mexico could make that difficult.
  • Nearly one in four Nissan vehicles were made in Mexico last month, the company said on Thursday.

Nissan has had a tough 2024, and proposed tariffs from the incoming Trump administration are yet another obstacle to its turnaround plans.

The Japanese automaker has slashed its workforce as sales and profits have plunged amid growing competition from Chinese rivals, and its latest production figures for October make for particularly difficult reading.

Figures released on Thursday showed that vehicle production has dropped dramatically in all of Nissan's major markets this year except Mexico, where it rose nearly 10% compared to 2023. Overall, global production was down 7.1% in the first 10 months of 2024 compared to the previous year.

Nearly one in four Nissan vehicles made globally last month were built in Mexico, meaning the Japanese manufacturer is highly exposed to the tariffs proposed by incoming US president Donald Trump.

The president-elect has said he would impose blanket import taxes ofΒ 25% on all goods entering the US from Mexico and CanadaΒ on his first day in office and floated the idea of imposingΒ 200% tariffs on vehicles imported from MexicoΒ on the campaign trail.

Experts previously told Business Insider that any tariffs on trade with Mexico would have a dire impact on the US auto industry and likely increase vehicle prices.

Nissan would be one of the automakers worst-hit by the tariffs. The company has four production sites in Mexico, where it makes models including the Sentra, Versa, and Kicks.

Nissan's global sales in October were down nearly 2.7% from the previous year. The carmaker recorded double-digit drops in both China and Europe but saw sales rise in the US for the first time in three months.

The looming threat of tariffs adds to Nissan's considerable list of problems.

The automaker announced earlier this month that it wouldΒ cut 9,000 jobs and 20% of its manufacturing capacity. Profit for the quarter ending in September fell to around $210 million, down from $1.4 billion over the same period last year.

Nissan is reportedly searching for extra investors after European partner Renault sold some of its holdings. A senior official close to the companyΒ told The Financial Times that Nissan has "12 or 14 months to survive."

Japan's automakers face a reckoning

Along with rivals Honda and Toyota, Nissan has come under pressure from Chinese automakers. These companies are eating into Nissan's market share in China with affordable EVs andΒ rapidly expanding intoΒ developing markets dominated by Japanese companies.

Toyota, Honda, and Nissan are also facing a reckoning over their handling of the transition to electric vehicles. The three automakers have prioritized hybrids over pure battery-electric vehicles, a strategy that has boosted sales in the US but left them lagging behind local rivals like BYD in China.

"At the end of the day, the hybrid strategy worked in Japan, worked in the US, and worked very well in Europe, but that's not the case in China," analyst Felipe Munoz previously told Business Insider.

Nissan did not immediately respond to a request for comment from Business Insider, sent outside normal working hours.

Read the original article on Business Insider

Amazon Japan raided by anti-monopoly authorities

Amazon Japan has said it will collaborate with Japan Fair Trade Commission (JFTC) after the watchdog conducted an on-site inspection related to suspected violations of anti-monopoly laws. The e-commerce giant is under suspicion of inappropriately urging vendors to lower their prices on its online shopping platform in return for better product placement, as first reported […]

Β© 2024 TechCrunch. All rights reserved. For personal use only.

They bought an abandoned house in rural Japan for $6,500. Now, they're renting it out on Airbnb for $130 a night.

The exterior of the akiya.
The Benton's akiya has been transformed into a guesthouse.

Dani Benton.

  • Dani and Evan Benton moved to Japan on a startup business visa in 2023.
  • They bought an abandoned house for $6,500 and turned it into a guesthouse.
  • The couple has also started a homestead with a farm and a beekeeping business.

After six years of running an urban farm and renting an Airbnb in New Orleans, followed by 15 months of travel and house-sitting around Mexico, Dani and Evan Benton were ready for their next adventure.

They knew they wanted to live a simple, rural life but still have access to modern amenities. Ideally, they would also be in an area with a nice climate where they could grow as much of their own food as possible.

A couple sitting cross-legged on a tatami mat in the house.
Dani and Evan Benton bought an akiya in Japan and turned it into a guesthouse.

Dani Benton.

Their goal had always been to start a homestead similar to what they had back in the US, and doing this in Japan seemed feasible, especially considering that the country has 8.5 million akiya, or abandoned houses, in rural areas for sale.

It helped that Evan also speaks Japanese, having studied the language in college.

Since they always loved old homes and were keen on the idea of renovating an akiya, they decided to take the plunge.

The exterior of the akiya.
The akiya hadn't been lived in for a decade, ever since the previous owners died.

Dani Benton.

Applying for the startup business visa

In early 2023, the couple started working toward getting a startup business visa in Japan.

Their visa application required them to submit a proposal detailing their business plans.

In addition to their homestead β€” which would include honey production and a small-scale farming business β€” the couple also wanted to open a guesthouse. On the side, Dani, 40, was also planning to offer photography services.

They were drawn to Omishima island, which is over an hour away from Hiroshima airport, partially because it's one of the few areas where the startup business visa is offered.

A room filled with leftover junk from the previous owner.
There were still furniture items left behind in the akiya.

Dani Benton.

"What the startup visa does is it encourages foreign people to move to Japan specifically to start small businesses," Dani, a professional photographer, told Business Insider. "You get residency, and you have six months to do things like open your bank account, incorporate your business, get everything funded, and obtain whatever licenses you may need."

One of the main visa requirements is that the couple invest at least 5 million Japanese yen, or around $32,450, into their business bank account or hire a minimum of two employees.

Their proposal was approved after a few revisions, and they were granted their startup business visas by the end of June 2023.

Transforming an akiya into a guesthouse

A sitting room.
A real-estate agent had shown them the property.

Dani Benton.

While they were sorting out their visa applications, the couple also purchased their first akiya, which would be turned into the guesthouse.

Their property-hunting process was smooth because they had been looking at listings even before they left the US. Their eventual plan was to have two akiya β€” one for the guesthouse and one as their own residence.

"We had a list of houses on Omishima that we wanted to check out in person when we finally made it here," Evan, 41, told BI.

While viewing an akiya β€” which they would eventually purchase as their residence β€” their real-estate agent showed them another akiya nearby that hadn't been listed online yet.

One of the rooms in the akiya.
The couple paid 1 million Japanese yen for the akiya.

Dani Benton.

The latter was owned by a 75-year-old Japanese man who still lived in the neighborhood. His parents used to live in the house, but they died a decade ago. The house has been untouched ever since, and there were even pieces of furniture left behind.

"That ended up being the guesthouse that we bought," Evan, a former massage therapist, said. "We found our house first, but then we bought the guesthouse first."

They paid 1 million Japanese yen, or about $6,500, for their guesthouse.

"It's like the ultimate recycling project," Dani said. "It's literally saving a whole house and as much of the contents as we could."

The bedroom.
The two-story home was built in the 1950s.

Dani Benton.

Thankfully, the akiya was in pretty good condition, and they were able to live in it during the renovation.

"It was mainly cosmetic, so it was just a lot of things that took so much time to clean," Evan said.

The akiya even had a modern toilet that was already connected to the city sewage system.

"But we didn't have hot water for a long time, so while we were doing the renovation, we would have to go down to the public bath," Dani said.

The kitchen and dining area.
The couple lived in the akiya during renovation.

Dani Benton.

The couple did the bulk of the work themselves and even documented the renovation process on their YouTube channel.

However, they did hire some contractors for assistance since they had a six-month deadline to get their guesthouse up and running.

"If we had had a whole year to do it, we could have done it ourselves," Dani said.

The couple says they spent about $19,000 on the akiya renovation and $5,000 on furniture, appliances, and other household items.

Guesthouse for rent on Airbnb

Dani and Evan aren't alone in being drawn to these old, vacant homes in the Japanese countryside. Due to the shrinking population and internal migration, Japan has millions of unoccupied houses in rural areas.

However, thanks to the low prices and the lack of restrictions on foreigners purchasing property, more and more foreigners are choosing to buy these old homes and breathe new life into them.

The study.
The guesthouse is available for rent on Airbnb.

Dani Benton.

The couple's guesthouse is available for rent on Airbnb from 20,000 Japanese yen a night.

They hosted their first guests in November last year, and when their six-month startup business visa was due the following month, the couple obtained a business manager visa.

Omishima is in the middle of a series of six islands that are connected by a long suspension bridge known as the Shimanami Kaido, a famous biking route and tourist attraction.

There is a grocery store and a few local restaurants nearby, as well as a popular shrine and a samurai museum on the island, Dani said.

A woman standing in the fields.
The couple also have a farm where they're growing vegetables.

Dani Benton.

Like many places in Japan, Omishima is also very safe, Dani said: "We never lock our doors."

Now that the couple has gotten their guesthouse up and running, they'll be focusing their energy on turning the other akiya they bought β€” which is two minutes away β€” into their home.

"It was abandoned for 40 years, so it has a lot of work needed," Dani said.

In addition, they're working to establish their farm and honey production business.

A man harvesting honey.
The couple are working as beekeepers and a part of their business includes honey production.

Dani Benton.

"We enjoyed Mexican food and really missed it in Japan, so essentially, we're focusing on Mexican vegetables, growing tomatoes, tomatillos, and all kinds of hot peppers," Evan said.

As for honey production, the couple just harvested their first batch of honey from their 12 bee colonies, he added.

The couple has been living in Japan for almost two years, and the biggest lifestyle change they've noticed is that they're more connected with their local community than they were back in the US.

Not only do they know more of their neighbors, the couple also has closer relationships with them.

A man and a woman posing in front of an abandoned house in Japan.
The couple say they feel more connected to the local community in Japan.

Dani Benton.

"Everyone lives in the same sort of concentrated area, and then they all go out to their fields and meet each other on the way," Evan said. "So we're always having saying hi to people in the street."

Have you recently relocated to a new country and found your dream home? If you have a story to share, contact this reporter at [email protected].

Read the original article on Business Insider

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