New Mountain Day holiday seen giving US$8b boost to Japan economy

Tokyo

AS Japanese prepare to head for the hills on Thursday for their inaugural Mountain Day holiday, retailers and tourism operators are gearing up for an US$8 billion windfall.

They're counting on customers such as schoolteacher Ayako Kobayashi, 33, who spent more than US$700 on a sleeping bag, mattress, backpack and food to climb Mount Kita near Nagano last weekend. She's looking for a two-person tent and a bigger backpack, which would set her back another US$1,000, but she says the price tag is worth it.

"I can't find words to describe the feeling of achievement that I get at the top of the mountain," Ms Kobayashi said. "It makes me more confident."

While the holiday is aimed more at encouraging people to appreciate Mount Fuji and the country's other natural attractions, businesses are counting on Mountain Day to bolster an economy threatened by a strengthening yen and weak consumer spending. The national holiday comes days before a week-long Obon festival period in whic…