Hong Kong Tourism Report Q1 2016
BMI View: Hong Kong possesses a very strong tourism market, bolstered by its proximity to China. Theindustry is well developed, with a strong hotel base and a government committed to supporting the industryover the next few years via marketing and attempts to reduce visa restrictions. Some political disagreementwith China and a strong competition from other Asian countries has slowed growth, but the medium termprospects are strong for the country. Whilst there needs to be a development of tourist attractions outside ofretail, inbound arrivals can be expected to increase in secondary source markets.
Key updates and forecasts
Inbound arrivals will reach 75.4m in 2019, up 13.9% from 2016. Asia Pacific will provide 95.3% of allarrivals in 2019. Despite the positive outlook, Golden Week (one of the major periods of travel for Chinesetourists into Hong Kong) proved massively disappointing for the industry, with a drop in y-o-y growth innumbers and spending. The Hong Kong government is looking at introducing online visa applications forChinese citizens to arrest this, but implementation will depend on China's view on the proposal.
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