Boston, MA -- (SBWIRE) -- 10/08/2014 -- BMI's tourism report looks at a range of market indicators in this very well-established tourism industry, including inbound and outbound travel, tourism-related expenditure, hotel developments and overall industry rate. With some of the highest outbound travel rates in the world and very positive inbound arrivals figures, the future is looking very positive for this popular destination at the heart of the Asia Pacific region.

Hong Kong has long been a popular global tourist destination, acting as a transit hub between many international destinations. Asia Pacific countries dominate Hong Kong's inbound arrivals market, in particular China, which sends millions of visitors (many daily visitors) each year. Arrivals from China are vital to the health of the tourism industry, and we are unlikely to see recent protests urging the introduction of arrivals quotas gain any traction. The Hong Kong tourism board estimates that tourists will reach 100mn in 2023 and is focused on ensuring the islands have adequate travel and accommodation infrastructure in place. The government is highly supportive of the tourism industry, and recent marketing programmes targeting India, the Netherlands, Russia and Vietnam saw arrivals from these countries increase by 8%.

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The outbound travel market is far smaller than inbound travel, though considering the size of Hong Kong's population (at over 7.1mn), it is substantial. While growth rates will be slower than that seen in the inbound market, we expect that the number of outbound travellers from Hong Kong will reach 11.4mn in 2015, increasing to 12.6mn by 2018. This gives Hong Kong one of the highest rates of departure per population in the world. As with inbound travel, the Asia Pacific region dominates outbound travel, with Macau consistently proving the most popular destination, followed by Taiwan and Japan.

Hong Kong International Airport is one of the world's busiest, handling just under 60mn passengers in 2014, with capacity for 64...

The Hong Kong Tourism Report has been researched at source and features Business Monitor International (BMI)'s independent assessment and forecasts for tourist expenditure; government expenditure on tourism; passenger arrivals and departures by mode of transport, reason for travel, origin and destination; and the accommodation market.

BMI's Hong Kong Tourism Report provides industry professionals and strategists, corporate analysts, associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on the Hong Kong tourism industry.

Key Benefits

- Benchmark BMI's independent tourism industry forecasts for Hong Kong to test other views - a key input for successful budgetary and planning in the Hong Kong tourism market.
- Target business opportunities and risks in the Hong Kong tourism sector through our reviews of latest industry trends, regulatory changes and major deals, projects and investments in Hong Kong.
- Assess the activities, strategy and market position of your competitors, partners and clients via our Company Profiles (inc. KPIs and latest activity).

Coverage

BMI Industry View

This contains a synopsis of our forecasts, and any changes, together with an overview of key trends and developments in the tourism industry, and an assessment of the impact of various economic and national factors which might affect the sector. It also covers new transport projects, new hotel developments, and acquisitions.

Industry SWOT Analysis

Analysis of the major Strengths, Weaknesses, Opportunities and Threats within the tourism sector and within the broader political, economic and business environment.

BMI Industry Forecast Scenario

Forecasts to end-2018 for all key indicators (see list below), supported by explicit assumptions, plus analysis of key downside risks to the main forecasts:

Inbound tourism: Arrivals (?000), arrivals growth (% y-o-y), arrivals by region, growth (% y-o-y), arrivals by country, growth (% y-o-y), top 10 countries based on arrivals, growth (% y-o-y).

Outbound tourism: Departures (?000), growth (% y-o-y), departures by regional destination (?000 and growth % y-o-y).

Travel: Methods of travel for arrivals (Air, Ship, Rail), (?000) and (% growth y-o-y), international Tourism receipts for transport (US$bn), (growth % y-o-y), international Tourism receipts for travel items (US$bn), (growth % y-o-y).

Hotels: Hotel industry value (US$bn), (growth % y-o-y), (%GDP), (per capita), (per employee), number of hotels and like establishments (?000), (growth % y-o-y), total overnight stays, (?000), (growth % y-o-y), length of stay, occupancy rate (%), number of hotel rooms, (?000), (growth % y-o-y).

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