Hong Kong Tourism Report Q3 2016 - New Study Released

From: Fast Market Research, Inc.
Published: Tue Jun 14 2016

Hong Kong is home to a well- developed and mature tourism market. The country attracts high volumes of visitors from m ainland China, and as a major regional travel hub also welcomes many visitors from throughout the Asia Pacific region and beyond. Tourism infrastructure is modern, including an extensive public transport network and one of the largest and busiest airports in the world. The government continues to invest in transport infrastructure, while high visitor numbers and solid occupancy rates mean investor s remain interest ed in the hotel sector despite high real estate costs. While there are some potential downside risks, particularly in terms of a fall in arrivals from China, overall the outlook for Hong Kong's tourism industry remains highly positive.

Key Updates And Forecasts

Full Report Details at
- http://www.fastmr.com/prod/1182772_hong_kong_tourism_report_q3.aspx?afid=301

China remains the largest single source market for inbound arrivals to Hong Kong, accounting for around 80% of arrivals in 2016. 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 2016 numbered 3,729 compared with 11,575 in January 2015.

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 80% of its flights from the new concourse, is adding six new flights to Beijing and five new flights to Hanoi in May, and low-cost carrier HK Express is planning new flights to Japan from June or July 2016.

As a mature market, Hong Kong's inbound market is already huge (with more than 63mn arrivals projected for 2016), and overall we are forecasting a slow but steady increase in arrivals to Hong Kong between 2016 and 2020. This will have a positive impact on tourism-related expenditure, which is forecast to reach USD54.4bn in 2020.

The Hong Kong Tourism Report has been researched at source and features BMI Research's independent assessment and forecasts for tourist expenditure; government expenditure on tourism; passenger arrivals and departures by mode of transport, reason for travel, origin and destination; and the accommodation market.

BMI's Hong Kong Tourism Report provides industry professionals and strategists, corporate analysts, associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on the Hong Kong tourism industry.

Key Benefits
Benchmark BMI's independent tourism industry forecasts for Hong Kong to test other views - a key input for successful budgetary and planning in the Hong Kong tourism market.
Target business opportunities and risks in the Hong Kong tourism sector through our reviews of latest industry trends, regulatory changes and major deals, projects and investments in Hong Kong.

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You may also be interested in these related reports:

- Australia Tourism Report Q3 2016
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- Japan Tourism Report Q3 2016

Company: Fast Market Research, Inc.
Contact Name: Bill Thompson
Contact Email: press@fastmr.com
Contact Phone: 1-413-485-7001

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