Economic indicators

Despite the decade or so of economic malaise that followed the bursting of Japan's real estate bubble in the early 1990's, Japan has retained its place as the world's number two economic power. Over the past few years Japan has been going through a prolonged period of recovery. And the signs that it will continue remain prevalent.

Much focus is given to the Japan Business Federation's (Nippon Keidanren) tankan survey of business sentiment. Business publications hang on every word issued by the Bank of Japan governor. The consumer price index, the value of the yen, and consumer behavior and myriad other indicators are also scrutinized at length in an attempt to predict if this expansion will continue. One area of anecdotal evidence of Japan's economic health, however, seems to be left unnoticed.

Trade shows in Japan offer a view of the economy's state that is rarely reflected upon. There are two elements to the Trade Show Indicator of Economic Health (tm). The first is simply the number of trade shows and exhibitions held and their size. In the last couple of years, trade shows have seen an increased interest from companies looking for opportunities to exhibit their products and services. New trade shows have also been springing up to focus on up and coming industries. The types of new trade shows should also be included here, for example the holding of Japan's first Gourmet Food Show this year.

The second part of the Trade Show Indicator of Economic Health (tm) is the number and quality of the "Campaign Girls". For those unfamiliar with trade shows in Japan, these are the young women typically dressed in short skirts or the like employed by companies to attract visitors into their booths, encourage visitors to fill out their surveys in exchange for cheap give-aways, and be photographed prominently displaying the companies' logos. (Sometimes more effectively than at other times - see below.)

A couple of years ago only the biggest, most free-spending of the Japanese companies had campaign girls prancing in front of their booths; and then only at the biggest exhibitions. This year the number of bubbly women in short, logo-ed apparel has increased.

As an aside, you can also tell the relative health of a company by the quantity and quality of the campaign girl(s) employed at any given booth within the exhibition.

According to the Trade Show Indicator of Economic Health (tm), it should be a good year for the Japanese economy. And for the hundreds of guys who only attend trade shows to photograph campaign girls.