Denryu Lin, who runs about 80 vacation rentals in central Osaka, is watching his business evaporate since late November as tensions between Tokyo and Beijing escalate.
Over 600 bookings — more than 1,000 Chinese guests — have been canceled through year-end, he said.
“Everyone I know in real estate and the travel industry is struggling,” he added, underscoring a sense of sector-wide stress that could tip into a broader crunch if the pullback persists.
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