"Hong Kong Tourism Report Q3 2013" is now available at Fast Market Research

From: Fast Market Research, Inc.
Published: Fri Jul 05 2013

BMI's Hong Kong tourism report examines the extensive investment potential offered by the Hong Kong tourism market. Strong regional and domestic economic growth is driving up both inbound arrivals and outbound departures resulting in an overall increase in the tourism industry value.

Good economic growth in key regional markets, such as China, have resulted in large increases in inbound travel to the territory, with substantial growth of over 15% seen in 2012. Moving forward we expect to see smaller but still impressive growth of around 8% per year leading to a total annual arrivals figure forecasted for 2017 of over 17.1mn. At the same time outbound travel is expected to increase steadily leading to a total outbound departures figure in 2017 of close to 15mn. Hong Kong has one of the highest departure rates per population reflecting the high propensity for travel. Countries within the Asia Pacific region will continue to dominate both inbound and outbound travel.

Full Report Details at
- http://www.fastmr.com/prod/617045_hong_kong_tourism_report_q3_2013.aspx?afid=301

The strong economies of the Asia Pacific region are likely to balance out any downturn we may see in travel from Europe and the United States as the recovery from the global credit crunch continues. However political tensions between China, Japan and South Korea, if they escalate, could impact on regional travel.

Hong Kong benefits from a modern and extensive travel infrastructure, with the airport a major international transit hub. Investment is underway to expand the airport further, which will allow more travellers to utilize Hong Kong as a short stay destination during long haul flights. An increasing number of cruise companies are also now operating out of Hong Kong.

Hong Kong continues to remain a popular location for the world's major hotel groups, with several hotels expected to open in upcoming years both in the territory itself and on the nearby mainland. Despite high costs and limited real estate opportunities we expect the number of hotels to continue to expand by approximately 8% per year.

* Hong Kong International Airport continues to expand cementing its place as a leading Asian airport hub, and is already the 10th busiest international passenger airport in the world.
* Outbound travel is expected to experience increasing growth rates from 2013 to 2017, reaching close to 15mn per year by 2017.
* Inbound travel is also expected to grow over the forecast period, based both on increasing travel from China and other Asia Pacific countries, but also on increased global travel.
* This quarter BMI has given Hong Kong an overall Tourism Industry Risk/Reward rating of 76.07, placing it first overall in the Asia Pacific region.
* Key events in Hong Kong in 2013 include the world famous Hong Kong Derby, the 41st Hong Kong Arts Festival, the Hong Kong Book Fair, and the Hong Kong Sevens rugby tournament.

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