HONG KONG TOURISM SECTOR URGES ACTION WITH VISITOR SPENDING 44% BELOW 2018 LEVEL
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| Source | Latest linked headline | Age |
|---|---|---|
| News - South China Morning Post | HONG KONG TOURISM SECTOR URGES ACTION WITH VISITOR SPENDING 44% BELOW 2018 LEVEL | 41 mins ago |
WHAT HAPPENED
Hong Kong's tourism industry has called for more experiential events and closer cross-border cooperation to draw visitors, as tourist spending fell to HK$197.5 billion (US$25.2 billion) last year. According to News - South China Morning Post, this represents a 44 per cent decline from the 2018 level. The call to action was made by lawmaker Perry Yiu Pak-leung, chairman of China Travel Service (Hong Kong) Limited, on Friday.
Yiu attributed the fall in tourist spending to changing travel patterns, with tourists now placing greater value on experiences and in-depth exploration than on shopping. The decline in spending has significant implications for Hong Kong's economy, which has traditionally relied on tourism as a major revenue source. According to the available data, the drop in spending is a significant concern for the industry.
The decline in Hong Kong's tourism sector is likely to have broader economic implications, as the industry is a significant contributor to the region's GDP. The related sources do not provide direct information on the tourism sector, but they do offer insights into the broader economic and trade landscape in China and beyond.
- Tourist spending in Hong Kong fell to HK$197.5 billion (US$25.2 billion) last year
- This represents a 44 per cent decline from the 2018 level
- The tourism industry is calling for more experiential events and closer cross-border cooperation to draw visitors
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