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Shibuya pedestrian crossing and city lights, Tokyo, Japan
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Japan posted record-breaking tourist figures in 2024

Almost 37 million visitors flocked to the East Asian nation.

Big in Japan

There was a reason it felt like your social feeds and office-team chats were flooded with people sharing pictures, videos, and anecdotes from their two-week sojourns to Japan last year: the country welcomed a record 36.87 million visitors in 2024, up more than 15% from the previous prepandemic high in 2019. 

Though the figure, posted by the nation’s tourism body earlier this week, is provisional, it would put the national government ahead of its goal to welcome 60 million overseas visitors a year by 2030 — a target set in 2016, well before the pandemic scuppered the nation’s tourism industry as it did everywhere else. While elected officials will be happy with the new record, locals affected by issues of overcrowding on public transport and packed restaurants are less enthused about the 2024 high.

Japanese tourism chart
Sherwood News

With its unique culture, Michelin-star-studded cuisine, and tourist hotspots like Mt. Fuji and Tokyo’s famous Shibuya Crossing, Japan has long been a popular destination for people with wanderlust. However, a less romantic reason also undoubtedly played its part in last year’s boom: a weak national currency, with the yen hitting a 37-year low against the dollar in June.

All told, visitors spent a whopping 8.14 trillion yen (almost $52 billion) in Japan last year, 53% more than the year before.

The bulk of the island nation’s tourists last year came from nearby countries like South Korea (8.8 million) and China (7 million), but a whopping 2.7 million Americans also made trips to Japan in 2024, up almost 700,000 on the figure for 2023.

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US and Iran trade strikes overnight amid peace talks

Hours after President Donald Trump dismissed a report regarding a deal to restore traffic through the Strait of Hormuz, the US and Iran exchanged fresh strikes early on Thursday.

Despite an ongoing ceasefire as the countries hold talks to end the conflict, the US carried out new strikes inside Iran, The Guardian reports, prompting a retaliatory attack from Iran on a US airbase in Kuwait.

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Tom Jones

The UAE’s OPEC exit will hit the group in the barrels

After just shy of 60 years in OPEC, its membership even predating its status as a nation-state, the United Arab Emirates yesterday announced its shocking departure from the oil production group, effective May 1, as the knock-on effects of the Iran war continue to play out across the Middle East and the energy landscape.

For context, the UAE produces the third-highest amount of oil in the group, per April data and OPEC’s latest set of annual statistics.

According to the cartel’s 2025 Annual Statistical Bulletin, the OPEC group was collectively exporting some 19 million barrels of crude oil a day last year, with the United Arab Emirates accounting for some 14% of that daily output.

UAExit means UAExit

The nation, whose energy minister told Reuters yesterday that the decision was taken “after a careful look at current and future policies related to level of production” and wasn’t made following discussions with any other country, made up a healthy share of the group’s total confirmed crude oil reserves, as well.

OPEC exports chart
Sherwood News

Of the 12 nations in the core group, which was founded by just five oil superpowers back in September 1960, only two (Iraq and Saudi Arabia) exported more barrels of crude oil daily, pumping out 3.36 million and 6.05 million barrels, respectively, each day to nations around the world.

For its part, the UAE said it will “continue its responsible role by gradually and thoughtfully increasing production, in line with demand and market conditions,” per the official state news agency. Clearly, the nation now wants a little more control of just how much oil it can pump around the world, with the UAE having to eat a large proportion of lost revenues due to its healthy abundance and OPEC restrictions.

According to the cartel’s 2025 Annual Statistical Bulletin, the OPEC group was collectively exporting some 19 million barrels of crude oil a day last year, with the United Arab Emirates accounting for some 14% of that daily output.

UAExit means UAExit

The nation, whose energy minister told Reuters yesterday that the decision was taken “after a careful look at current and future policies related to level of production” and wasn’t made following discussions with any other country, made up a healthy share of the group’s total confirmed crude oil reserves, as well.

OPEC exports chart
Sherwood News

Of the 12 nations in the core group, which was founded by just five oil superpowers back in September 1960, only two (Iraq and Saudi Arabia) exported more barrels of crude oil daily, pumping out 3.36 million and 6.05 million barrels, respectively, each day to nations around the world.

For its part, the UAE said it will “continue its responsible role by gradually and thoughtfully increasing production, in line with demand and market conditions,” per the official state news agency. Clearly, the nation now wants a little more control of just how much oil it can pump around the world, with the UAE having to eat a large proportion of lost revenues due to its healthy abundance and OPEC restrictions.

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