Market Overview

Research and Markets: Hong Kong Tourism Report Q4 2012: It Looks Set To Be another Record-Breaking Year for Hong Kong Tourism

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DUBLIN--(BUSINESS WIRE)--

Research and Markets (http://www.researchandmarkets.com/research/5k85gj/hong_kong_tourism) has announced the addition of the "Hong Kong Tourism Report Q4 2012" report to their offering.

Arrivals over the first six months of the year stood at 22,322,754, an increase of 15.5% year-on-year (y-o-y), according to figures from the Hong Kong Tourism Board (HKTB).

Encouragingly, growth continues to come from most market regions, putting arrivals well on course to hit BMI's target of 44mn for visitor arrivals in 2012.

China remained the most important source market for inbound tourism to Hong Kong, sending 15.58mn tourists to Hong Kong over January-June, an increase of 22.7% y-o-y. Overall, China accounted for just under 70% of all arrivals to Hong Kong over the first six months of 2012. Other key short-haul source markets for Hong Kong tourism included the Philippines, Japan and South Korea.

Over the last quarter, BMI has revised the following forecasts and views:

- BMI has upgraded its forecasts for the number of hotels opening in Hong Kong over the forecast period through to 2016, based on reanalysis of the current number of hotel projects under construction. BMI forecasts a total of just under 8,000 new hotel rooms will open between 2012 and 2016, bringing the total number of hotel rooms to just under 77,000.

- BMI believes arrivals from Russia will become ever-more important to the Hong Kong tourism industry over our forecast period to 2016. From just 37,153 arrivals in 2008, Russian tourists had increased to 131,357 arrivals by the end of 2011, with arrivals going up by 56.5% y-o-y in H112 to reach 93,358. On current trends, BMI believes Russia will surpass France and Germany between by the end of 2016, to become Hong Kong's second most important European source market, behind the UK.

Companies Mentioned:

Cathay Pacific

Melco Group

Shangri-La

For more information visit http://www.researchandmarkets.com/research/5k85gj/hong_kong_tourism

Research and Markets
Laura Wood, Senior Manager.
press@researchandmarkets.com
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
Sector: Travel and Tourism

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