Tokyo Cherry Blossom Cruises Hit by Fuel Costs

0:00On March 31st, tourists in Tokyo are flocking to small cruise boats on the Maguro River to catch the cherry blossoms in full bloom. It's peak Hanami season that flower viewing tradition, drawing crowds and big bucks for operators like Tokyo waterways. But right now, a Middle East conflict has jacked up fuel prices, hitting them hard just when demand surges. Fuel use spikes during these busy weeks, and the CEO, Kazuyoshi Harada, says the timing could not be worse. Most tickets were booked ahead at 5,000 yen, about $31, so they cannot bump prices mid-season without backlash. Harada notes costs for fuel and labor were climbing even before the conflict kicked off on February 28th. The weak yen and global inflation are piling on the pain, squeezing small businesses like his. Back in January, they already hiked prices 10% on charter cruises to cope. Unlike car owners though, cruise operators get no government subsidies to offset gasoline costs.

1:00If the conflict drags on, more price jumps look inevitable, threatening the vibe of this spring ritual as operators scramble to stay afloat. That's your global news today update, AI powered and always on.