| Market Research A to Z | Company Profiles A to Z | Register | Contact Us |
| +44 (0) 203 086 8600 Call us on |
Hong Kong Tourism Report Q3 2009
Market |
Travel |
Report Type |
Market Research |
Country |
Hong Kong |
Published |
17 July 2009 |
Number of Pages |
52 |
Download |
|
Immediate |
|
Publisher |
Business Monitor International |
Hong Kong tourist market in decline
Tourist Arrivals To Fall In 2009 Figures released by the Hong Kong Tourism Board (HKTB) at the end of January 2009 showed that visitor arrivals for 2008 increased by 4.7% year-on-year (y-o-y), to 29,506,616. China remains the main source market for inbound tourists, with 16,862,003 people visiting Hong Kong in 2008, up 8.9% y-o-y.
Tourism receipts totalled HKD158.95bn (US$20.38bn) for the year.
The past 12 months was a strong year for Hong Kong tourism and we remain optimistic on the longerterm prognosis for the territory. However, for the short term, we expect the global economic slowdown to have a significant impact on discretionary spending, which will clearly impact on tourism industries around the globe. There is now also the threat from the H1N1 virus (swine flu) to contend with.
Looking at the most recent figures from 2009 (which relate from January to May and are provisional), tourist arrival figures are down by 1.4%, at 11.87mn. However, May itself saw visitor numbers drop by an alarming 13.5%, following the news that Hong Kong had its first confirmed case of the H1N1 virus.
Visitor arrivals from China were down by 9.9% y-o-y in May alone.
For now, BMI will maintain its existing forecast that Hong Kong’s total tourism arrival figures for 2009 will total 28.62mn, a 3% fall on 2008’s figures. However, any further diagnoses of swine flu will clearly bring severe downside risks to this forecast. 2010 should see essentially flat performance. Beyond 2010, we are cautiously optimistic that the global economy will regain traction and that tourism sector growth should then prove possible.
Difficult Operating Environment For Tourism Companies The current global economic slowdown is providing a challenging backdrop for companies operating within the Hong Kong tourism industry at present. Hotel occupancy rates in Hong Kong are falling and domestic airline Cathay Pacific recently announced a record loss for 2008. Swine flu now poses a further intangible factor in our forecasting. As such, BMI will continue to monitor the situation in Hong Kong to see if any further changes to our tourism forecasts prove necessary.
Addition Of Coverage On Swine Flu In May 2009, Hong Kong confirmed its first case of swine flu. To that end, BMI has added coverage of swine flu to our existing coverage of avian flu. More information can be found on pages 35-36 of this report.
Last Viewed
Hong Kong Tourism Report Q3 2009Disposable Paper Products - Serbia
Sodra - Strategic Analysis Review
Automotive Aftermarket in Europe
Womenswear: Global Industry Guide
Become an Affiliate
Do you manage an industry specific website or blog? Are you looking to monetise your web traffic further? Are you a B2B website?
Why not offer your visitors industry specific strategic market reports and company profiles? Our Affiliate Program enables you to provide quality content on your website and to earn money from passing on visitors to our website. If a sale is made from your visitor, you earn commission (a fixed percentage of the price of a product).
Custom Research
Cannot find what you need? We can tailor a report for you. Complete the Custom Research Form and we will provide a quote.
News
Miles & More and Regus partnership to offer ‘rewarding’ working solutions for business travellers
Rezidor Hotel Group advises of strong market recovery in Q1
Rolls-Royce to provide nine engines and a $450 million services contract for Norwegian’s Dreamliners
International Airlines Group Books a Profit, Monitoring Fuel Costs
TUI Travel & Intrepid Travel Join Forces; To Target Adventure Tourists
