Hong Kong Tourism Report - Business Monitor International - Industry Reports

Hong Kong Tourism Report

Hong Kong Tourism Report - Business Monitor International - Industry Reports
Hong Kong Tourism Report
Published Aug 27, 2016
33 pages — Published Aug 27, 2016
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Abstract:

� Business Monitor International Ltd Page -- order to diversify its tourism source markets. Korea, China and Japan have invested in improving their existing attractions and adding new ones, while Hong Kong may have been slightly complacent, in our view. ...Despite the marketing efforts of the tourism board (which has been running localised campaigns in target countries), growth outside of APAC is limited. Arrivals from Europe are set to grow by just -.- annually (in part due to difficult economic circumstances, but also the growing attraction and falling currencies of other destinations), while North American arrivals will fall by the end of the forecast period. Looking at the data on a granular country-by-country basis, we can see the dependence that the Hong Kong tourism industry has on China. ...Looking at the data on a granular country-by-country basis, we can see the dependence that the Hong Kong tourism industry has on China. In ----, --.- of all inbound arrivals will come from the mainland, and this

...China remains the largest single source market for inbound arrivals to Hong Kong, expected to account for more than -- of arrivals in ----. We do note, however, that visitor numbers have been impacted by political disagreements, with the chief of Hong Kong s Professional Tourist Guides General Union, Yu Li-Hua, reporting that tour groups in January ---- numbered -,--- compared with --,--- in January ----. ...As well as opening a new concourse at Hong Kong International Airport (HKIA), the territory continues to expand the number of regional and global flight connections on offer. Hong Kong Airlines, which runs around -- of its flights from the new concourse, was to add six new flights to Beijing and five new flights to Hanoi, and low-cost carrier HK Express has begun offering flights to Japan in ---- and is planning to offer flights to Myanmar and additional routes to Thailand beginning later in the year. As a mature market, Hong Kong s inbound market is already huge (with more than --mn arrivals projected for ----), and overall we are forecasting a slow but steady increase in arrivals to Hong Kong between ---- and ----. ...As a mature market, Hong Kong s inbound market is already huge (with more than --mn arrivals projected for ----), and overall we are forecasting a slow but steady increase in arrivals to Hong Kong between ---- and ----. This will have a positive impact on tourism-related expenditure, which is forecast to reach USD--.-bn in ----.

...While the combination of stiff regional competition and an economic slowdown in China (and the concomitant decrease in demand for luxury goods) has affected Hong Kong s tourism industry, the overall performance and fundamentals of the market are structurally sound. Political tension between Hong Kong and the mainland government will continue to sporadically erupt, but regional tensions due to political disagreements between China and its neighbours are likely to encourage more mainland tourists to choose Hong Kong over other nearby overseas destinations that cater to Chinese visitors. ...

  
Source:
Document ID
1747-8901
Country
Industry
Format:
PDF Adobe Acrobat
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Business Monitor International - Industry Reports—Established in 1984, Business Monitor International is a leading online publisher of specialist business information on global emerging markets. Business Monitor's range of quarterly services covers political risk, finance, macroeconomic performance, outlook and forecast, industry sectors and the business operating environment. Each Industry Report has been researched at source, and features latest-available data covering production, sales, imports and exports; 5-year industry forecasts through end-2012; company rankings and competitive landscapes for multinational and local manufacturers and suppliers; and analysis of latest industry developments, trends and regulatory changes.

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MLA:
Business Monitor International - Industry Reports. "Hong Kong Tourism Report" Aug 27, 2016. Alacra Store. Dec 02, 2016. <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Hong-Kong-Tourism-Report-2026-149>
  
APA:
Business Monitor International - Industry Reports. (2016). Hong Kong Tourism Report Aug 27, 2016. New York, NY: Alacra Store. Retrieved Dec 02, 2016 from <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Hong-Kong-Tourism-Report-2026-149>
  
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