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Pro Home of the highest ranking Shinto shrine
The Ise Grand Shrine is unique in Japan as being the top of the hierarchy of Shinto shrines connecting to Japan's imperial house. It is taken down and completely rebuilt every 20 years.
Pro Ise lobster
Despite being a small town, Ise is home to the Ise lobster, which is well-known throughout Japan for its culinary applications. There are entire traditional course meals using the Ise lobster at Ise's traditional inns.
Con No direct bullet train to Ise
If traveling from Tokyo, travelers must transfer from Nagoya onto the local rail system to get to Ise.
Con Not a lot to do after a few days
Ise is a small town, so there's a fairly finite number of attractions in Ise. Ise is best for 2-day-1-night trips.