Travel and Tourism in Hong Kong to 2019

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Category: Business and Industry

Date Submitted: 11/18/2015 03:56 AM

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Hong Kong's domestic travel market is considerably smaller than the outbound market as there is a lack of local recreational activities, which encourages residents to take holidays outside the country. Driven by promotional efforts, international arrivals registered strong growth at a CAGR of 8.4% during 20102014. Leisure is the main purpose of travel for inbound tourists.

Key Findings

Hong Kongs travel and tourism sector performed well during the historic period (20092014), supported by a rise in both domestic and inbound trips. International arrivals to the country increased at a compound annual growth rate (CAGR) of 10.41%, with total inbound tourist expenditure rising at a historic period CAGR of 7.91%. The main factors for growth were government efforts to promote the countrys travel and tourism sector on an international level. Furthermore, following Chinas tourism promotion in Hong Kong, overall departures reached 31 million, with China being the top destination market, and accounting for 74.4% of the total outbound trips in 2014

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