Hong Kongs 2008 Mid-Year Tourism Sector Outlook

Hong Kong's 2008 Mid-Year Tourism Sector Outlook

A current analysis on the outlook of Hong Kong's tourism sector for 2008, including insight to its hotel lodging, airline and retail industries.East Asia's leading tourism destination and financial city, Hong Kong SAR, achieved surprisingly high growth in tourism arrivals in 2007. Hong Kong witnessed steady growth in visitor arrivals from almost all markets, with double-digit growth observed in arrivals from the regions of mainland China, Europe, Africa the Middle East, Australia, New Zealand and the South Pacific.

Double-digit growth was also noted in high potential markets like South Korea and the Philippines, as well as emerging markets like the Middle East and Russia. Globalysis believes that Hong Kong will continue on this path to attain strong growth in visitor arrivals in 2008. We estimate Hong Kong's tourism revenues will climb as the city places even more focus on MICE and higher end tourism growth.