Hong Kong Tourism Market by Purpose, Booking Channel, Consumer Orientation, Tour Type, Tourism Type, Age Group & Region Forecast to 2022 – 2032
Would Hong Kong's Tourism Sector Revive with the Government's Efforts to Lure Tourists from Japan, Korea, the U.S., Germany, the U.K., and 30+ Countries with Social Media Campaigns and Free Air Tickets?
The Hong Kong tourism market is estimated to reach US$ 16 Billion in 2022. Sales are expected to increase at a robust 10% CAGR during the forecast period from 2022 to 2032. The market valuation is projected to reach US$ 41.5 Billion by the end of 2032.
Every year, people from all over the world visit Hong Kong, yet the year 2021 saw only about 42,000 tourists. The reason was the risk of coronavirus infection and limitations on overseas travel.
People are starting to return to Hong Kong as the restrictions gradually loosen. As per Discover Hong Kong, nearly 2,692 visitors from January to July 2022 in the country had come from the U.S. and tourists with longer hauls were mainly from the U.S. in the same time period.
Tourists from the U.S. are expected to visit Hong Kong for its cultural diversity and infrastructural aspects. Ten thousand Buddha monastery, museums, and several festivals are the main attractions for tourists coming from the U.S.
Furthermore, Americans are anticipated to spend huge sums on leisure and luxury, and prefer to spend it on unique experiences rather than materialistic objects. These tourists select luxury trips with high-end destinations and accommodations. It would contribute to the country's economic prosperity. These spending habits are the result of a high disposable income and a high standard of life.
Rising number of tourists visiting the country, combined with the country's ever-increasing population, is exacerbating traffic congestion. Tourists are expected to grow in numbers in Hung Hom, Kwa Wan, and other residential districts in the evaluation period. Growing number of shopping malls and local attractions is anticipated to attract tourists to these locations. As a result, in order to spend their leisure time, the local population is looking for destinations in other countries.
Tourists from Hong Kong are visiting European countries, including Switzerland and the United Kingdom. According to a report published by VisitBritain, from 2009 to 2019, visits from Hong Kong to the U.K. surged by 141% in terms of visits and 254% in terms of spending. Increasing number of tourists from Europe is thus expected to be another major factor driving the Hong Kong tourism market.
Attribute
Key Insights
Honk Kong Tourism Market Estimated Size (2022)
US$ 16 billion
Projected Market Valuation (2032)
US$ 41.5 billion
Value-based CAGR (2022 to 2032)
10%
Don't pay for what you don't need
Customize your report by selecting specific countries or regions and save 30%!
2017-2021 Hong Kong Tourism Market Outlook Compared to 2022-2032 Demand Forecast
In the travel industry, Hong Kong is considered to be a special country. According to the World Tourism Organization (UNWTO), Hong Kong ranked tenth in terms of worldwide tourism spending in 2017.
Hong Kong is also one of the world's most congested cities. Furthermore, because domestic tourism is limited, Hong Kong residents typically choose to spend their vacations elsewhere. It would thus push Asia's fourth-highest GDP per capita. Because of Hong Kong's strategic location and first-rate transit system, international travel has become much easier. The remarkable integrated transportation system of Hong Kong makes travel easier than any other country.
The Hong Kong Tourism Board announced a 97.4% reduction in tourist numbers in 2021, as the industry's representatives requested the government to define the parameters for reopening the border with mainland China. As the tourism sector declined, so did the country's foreign exchange reserves, which would negatively impact tourism-related enterprises in the country.
Government and tourism board took collective efforts to accelerate the tourism industry in the next ten years. According to the board's figures, the number of arrivals fell from 3.6 million in 2020 to 91,398 in 2021, and the number of tourists was "near zero".
Comparative Analysis of Adjacent Hong Kong Tourism Markets
Hong Kong Tourism Market:
Differentiating Aspects
Hong Kong Tourism Market
CAGR in 2022-2032
10%
Current Valuation in 2022
US$ 16 Billion
Projected Valuation in 2032
US$ 41.5 Billion
Demand Drivers
Surging desire of millennials to visit international destinations before they turn 60 is expected to push sales.
Availability of remunerative job opportunities and pleasant conditions in various parts of the globe are likely to propel demand in the next ten years.
Hong Kong Outbound Tourism Market:
Differentiating Aspects
Hong Kong Outbound Tourism Market
CAGR in 2022-2032
8.5%
Current Valuation in 2022
US$ 483.0 Million
Projected Valuation in 2032
US$ 1,088.0 Million
Demand Drivers
Hong Kong's exceptional integrated transportation system is set to make outbound travel easy, thereby propelling demand.
Rising number of Hong Kong citizens who travel domestically and internationally for business and leisure would aid growth.
France Outbound Tourism Market:
Differentiating Aspects
France Outbound Tourism Market
CAGR in 2022-2032
4.3%
Current Valuation in 2022
US$ 33.9 Million
Projected Valuation in 2032
US$ 51.6 Million
Demand Drivers
Increasing trend for trekking and sight-seeing in groups across the globe is expected to augment growth.
Presence of prominent & stunning tourist attractions and appealing cultural landscapes & destinations would spur growth.
Find your sweet spots for generating winning opportunities in this market.
Top Trends Pushing Tourism Businesses in Hong Kong
“Presence of Various Museums Demonstrating Hong Kong’s Heritage & Culture Would Aid Growth”
Tourist attractions in Hong Kong are the most important drivers of tourism. There are numerous attractions such as lively cities with parks, shopping complexes, market areas, and architecture, which provide visitors with an unforgettable experience.
In addition to modern structures, Hong Kong has natural trails and tracks that provide visitors the sense of natural beauty which would further encourage them to explore other parts of the country. In 2020, over 20,000 individuals visited the Hong Kong Museum of History, Museum of Science, and Museum of Heritage, thus demonstrating the country's interest in its cultural history.
Moreover, Hong Kong has several important destinations associated with Buddhism. The second-largest Buddha statue in Hong Kong, Po Lin Monastery, Man Mo Temple, and Wong Tai Sin Temple, are considered important and have increasingly experienced a surge in terms of tourists over the years. Apart from being popular, these areas also offer insight into the Hong Kong culture, which would attract many foreign tourists and boost the Hong Kong tourism market.
“Rapid Development of Transportation Facilities in Hong Kong to Bolster Growth”
Infrastructural development in Hong Kong is set to help the tourism industry to prosper in the next ten years. The new infrastructure upgrades are making it easier for businesses, local city folks, and those wishing to reside in Hong Kong to conduct their businesses. This has led to a considerable increase in cultural, eating, and commercial options in West Kowloon Cultural District in recent years, as well as the country’s largest investment in sports infrastructure.
Several infrastructural developments of transport routes have helped the Hong Kong tourism industry to grow at a rapid pace. The third runway of the Hong Kong International Airport is now complete, which will further increase the capacity to handle up to 100 million passengers annually. All these developments are expected to indirectly help the Hong Kong tourism market to grow by surging the number of international visits and foreign exchanges.
What are the Factors Negatively Affecting the Demand for Tourism Services in Hong Kong?
In Hong Kong, there are numerous issues with the air quality. The main sources of air pollution in the country are power plants, motor vehicles, and ships. The Hong Kong government updated its 2025 air quality goals in 2019. Environmental advisory groups have since questioned the ultimate goals of tourism based on the standards of the World Health Organization (WHO).
If Hong Kong citizens are aware of the negative health effects, the city's air quality and pollution levels may serve as motivating factors. These factors have led to the development of several attractions for tourism and received upgrades & improvements. These developments might also attract numerous tourists to such locations. Key tour agencies are likely to provide them with new and upgraded tourist attractions in Hong Kong.
Get the data you need at a Fraction of the cost
Personalize your report by choosing insights you need and save 40%!
Category-wise Insights
Tourists from Which Age Group are More Likely to Travel to Hong Kong?
“People Belonging to the Age Group of 26-35 Years are Set to Opt for Hong Kong Travel”
Based on age group, the 26-35 years and 46-55 years’ segments are projected to push sales in the Hong Kong tourism market during the forecast period. Millennials usually travel to Hong Kong for leisure and business purposes, whereas a large number of old people are nowadays traveling to the country to visit their friends and families. Youngsters are set to prefer experiences over luxury to create memories, which would thus attract new young tourists in Hong Kong.
Which Tour Type is Highly Preferred by Tourists Visiting Hong Kong?
“Package Tour Agencies to Provide Options to Go to Tourist Spots in Central Hong Kong”
Package tours are the most popular among tourists visiting Hong Kong, with almost 45% bookings are for package tours. Tourists are nowadays becoming more interested in these package offers since travel agencies provide options to go to numerous destinations near Hong Kong.
Travel agencies usually form groups of 10 to 15 people and offer them tours for a few days, which include lodging and one meal each day. These package tours are becoming popular among tourists since they are affordable for both travelers and travel companies.
Which is the Most Preferred Booking Channel?
“Tourists to Prefer Online Booking Platforms to Visit Various Hong Kong Attractions”
By booking channel, online booking is anticipated to generate the largest Hong Kong tourism marker share in the next ten years, with more than 75% of online bookings. An average citizen of Hong Kong spends around 6 hours per day on the internet. Hence, the travel e-commerce segment has grown on a decent scale in recent years. The number of promotional offers and discounts over websites are also encouraging online booking of tours.
Competitive Landscape
Travel agencies all around the globe are using different marketing strategies to attract tourists and help them in creating a memorable & unique tour experience. The Hong Kong Tourism Board is also aiding tourists and tour organizers by providing essential information, including new events, attractions, cruises, and accommodations around the country. All these factors are helping in planning and executing a successful tour.
Several tourism companies are providing package deals with few popular destinations. They are also providing special offers on cruises and festival events that occur once in a year. They are striving to attract more tourists from across the globe by marketing tours on the official websites and social media.
For instance,
Thrillophilia is offering special Hong Kong tours, which include several key destinations. The company is also providing special family tours with sightseeing at Victoria Peak, Clock Tower, Tsim Sha Tsui Promenade, and Disney Land. These tours are very popular among families planning on international tours.
Scope of the Hong Kong Tourism Market Report
Attribute
Details
Estimated Market Size (2022)
US$ 16 billion
Projected Market Valuation (2032)
US$ 41.5 billion
Value-based CAGR (2022 to 2032)
10%
Forecast Period
2022 to 2032
Historical Data Available for
2017 to 2021
Market Analysis
Value (US$ billion)
Key Regions Covered
East Asia
Key Countries Covered
Hong Kong
Key Segments Covered
Purpose, Booking Channel, Consumer Orientation, Tour Type, Tourism Type, and Age Group
Key Companies Profiled
Expedia
Trip Advisor
Any Tours
Rome 2 Rio
Faces of Hong Kong Ltd.
Luxe Travel Hong Kong
Great Ocean Tours and Travel Limited.
Cox and Kings
Fortune Package Tour Operator
Thrillophilia
Thomas Cook
Romania Tour Store
Tour My India
Affordable Tours
Tour Radar
G Adventures
TUI China
World Expeditions
Others
Report Coverage
Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives
Hong Kong Tourism Market Outlook by Category
By Purpose:
Adventure
Vacation
Business
Others
By Booking Channel:
Phone Booking
Online Booking
In Person Booking
By Consumer Orientation:
Men
Women
Children
By Tour Type:
Independent Traveler
Tour Group
Package Traveler
By Tourism Type:
Domestic
International
By Age Group:
15-25 years
26-35 years
36-45 years
46-55 years
56-65 years
66-75 years
Frequently Asked Questions
What was the Hong Kong tourism market value in 2021?
The Hong Kong tourism market reached a valuation of US$ 12.8 Bn in 2021.
What is the predicted growth rate of the Hong Kong tourism market?
The Hong Kong tourism market is anticipated to grow at a 10% CAGR during the forecast period.
Who are the leading players in the Hong Kong tourism market?
Leading players in the Hong Kong tourism market are Expidia, Trip Advisor, Any Tours, Rome 2 Rio, Faces of Hong Kong Ltd., Luxe Travel Hong Kong, Great Ocean Tours and Travel Limited., Cox and Kings, Fortune Package Tour Operator, Thrillophilia, Thomas Cook, Romania Tour Store, Tour My India, Affordable Tours, Tour Radar, Explore, G Adventures, TUI China, and World Expeditions among others.
Which age group is expected to lead the Hong Kong tourism market?
The Hong Kong tourism market is set to be driven by the 26 to 35 years’ segment in the next ten years.
Which is the leading booking channel in the Hong Kong tourism market?
Based on booking channel, the online channel is expected to remain at the forefront in the Hong Kong tourism market during the forecast period.
Table of Content
1. Executive Summary
1.1. Hong Kong Market Outlook
1.1.1. Who Is Travelling?
1.1.2. How Much Do They Spend?
1.1.3. Direct Contribution of Tourism to GDP
1.1.4. Direct Contribution of Tourism to Employment
1.2. Tourism Evolution Analysis
1.3. FMI Analysis and Recommendations
2. Market Introduction
2.1. Total Spending (US$ Mn) and Forecast (2022-2032)
2.2. Number of Tourists (Mn) and Forecast (2022-2032)
2.3. Total Spending Y-o-Y Growth Projections (2022-2032)
2.4. Number of Tourists Y-o-Y Growth Projections
3. Market Dynamics
3.1. Market Drivers & Opportunities
3.1.1. Focusing on Tourism as A Development Strategy
3.1.2. Theme parks and other attractions
3.1.3. Increasing Recreational Activities
3.1.4. Rapid Growth of Online Social Media
3.1.5. Others (During the Course of Study)
3.2. Challenges
4. Market Outlook
4.1. Total Visitor Arrivals by Country / Region of Residence
4.2. Key initiatives of the Board (HKTB)
4.3. Top Tourist Destinations/Attractions
4.4. Others (during course study)
5. Categorizing of Market, 2022-2032
5.1. Introduction/ Key Findings
5.2. Current Market Analysis by Purpose (% of Demand)
5.2.1. Adventure
5.2.2. Vacation
5.2.3. Business
5.2.4. Others (Education, Sports, Healthcare etc.)
5.3. Current Market Analysis by Booking Channel (% of Demand)
5.3.1. Phone Booking
5.3.2. Online Booking
5.3.3. In Person Booking
5.4. Current Market Analysis by Consumer Orientation (% of Demand)
5.4.1. Men
5.4.2. Women
5.4.3. Children
5.5. Current Market Analysis by Tour Type (% of Demand)
5.5.1. Independent Traveler
5.5.2. Tour Group
5.5.3. Package Traveler
5.6. Current Market Analysis by Tourism Type (% of Demand)
5.6.1. Domestic
5.6.2. International
5.7. Current Market Analysis by Age Group (% of Demand)
5.7.1. 15-25 Years
5.7.2. 26-35 Years
5.7.3. 36-45 Years
5.7.4. 46-55 Years
5.7.5. 66-75 Years
6. Competition Analysis
6.1. Competition Dashboard
6.2. Pricing Analysis by Competition
6.3. Competition Benchmarking
6.4. Competition Deep Dive
6.4.1. Expedia
6.4.1.1. Overview
6.4.1.2. Product Portfolio
6.4.1.3. Profitability by Market Segments (Product/Channel/Region)
6.4.1.4. Sales Footprint
6.4.1.5. Strategy Overview
6.4.1.5.1. Marketing Strategy
6.4.1.5.2. Product Strategy
6.4.1.5.3. Channel Strategy
6.4.2. Trip Advisor
6.4.2.1. Overview
6.4.2.2. Product Portfolio
6.4.2.3. Profitability by Market Segments (Product/Channel/Region)
6.4.2.4. Sales Footprint
6.4.2.5. Strategy Overview
6.4.2.5.1. Marketing Strategy
6.4.2.5.2. Product Strategy
6.4.2.5.3. Channel Strategy
6.4.3. Any Tours
6.4.3.1. Overview
6.4.3.2. Product Portfolio
6.4.3.3. Profitability by Market Segments (Product/Channel/Region)
6.4.3.4. Sales Footprint
6.4.3.5. Strategy Overview
6.4.3.5.1. Marketing Strategy
6.4.3.5.2. Product Strategy
6.4.3.5.3. Channel Strategy
6.4.4. Rome 2 Rio
6.4.4.1. Overview
6.4.4.2. Product Portfolio
6.4.4.3. Profitability by Market Segments (Product/Channel/Region)
6.4.4.4. Sales Footprint
6.4.4.5. Strategy Overview
6.4.4.5.1. Marketing Strategy
6.4.4.5.2. Product Strategy
6.4.4.5.3. Channel Strategy
6.4.5. Faces of Hong Kong Ltd.
6.4.5.1. Overview
6.4.5.2. Product Portfolio
6.4.5.3. Profitability by Market Segments (Product/Channel/Region)
6.4.5.4. Sales Footprint
6.4.5.5. Strategy Overview
6.4.5.5.1. Marketing Strategy
6.4.5.5.2. Product Strategy
6.4.5.5.3. Channel Strategy
6.4.6. Luxe Travel Hong Kong
6.4.6.1. Overview
6.4.6.2. Product Portfolio
6.4.6.3. Profitability by Market Segments (Product/Channel/Region)
6.4.6.4. Sales Footprint
6.4.6.5. Strategy Overview
6.4.6.5.1. Marketing Strategy
6.4.6.5.2. Product Strategy
6.4.6.5.3. Channel Strategy
6.4.7. Great Ocean Tours and Travel Limited.
6.4.7.1. Overview
6.4.7.2. Product Portfolio
6.4.7.3. Profitability by Market Segments (Product/Channel/Region)
6.4.7.4. Sales Footprint
6.4.7.5. Strategy Overview
6.4.7.5.1. Marketing Strategy
6.4.7.5.2. Product Strategy
6.4.7.5.3. Channel Strategy
6.4.8. Cox and Kings
6.4.8.1. Overview
6.4.8.2. Product Portfolio
6.4.8.3. Profitability by Market Segments (Product/Channel/Region)
6.4.8.4. Sales Footprint
6.4.8.5. Strategy Overview
6.4.8.5.1. Marketing Strategy
6.4.8.5.2. Product Strategy
6.4.8.5.3. Channel Strategy
6.4.9. Fortune Package Tour Operator
6.4.9.1. Overview
6.4.9.2. Product Portfolio
6.4.9.3. Profitability by Market Segments (Product/Channel/Region)
6.4.9.4. Sales Footprint
6.4.9.5. Strategy Overview
6.4.9.5.1. Marketing Strategy
6.4.9.5.2. Product Strategy
6.4.9.5.3. Channel Strategy
6.4.10. Thrillophilia
6.4.10.1. Overview
6.4.10.2. Product Portfolio
6.4.10.3. Profitability by Market Segments (Product/Channel/Region)
6.4.10.4. Sales Footprint
6.4.10.5. Strategy Overview
6.4.10.5.1. Marketing Strategy
6.4.10.5.2. Product Strategy
6.4.10.5.3. Channel Strategy
6.4.11. Thomas Cook
6.4.11.1. Overview
6.4.11.2. Product Portfolio
6.4.11.3. Profitability by Market Segments (Product/Channel/Region)
6.4.11.4. Sales Footprint
6.4.11.5. Strategy Overview
6.4.11.5.1. Marketing Strategy
6.4.11.5.2. Product Strategy
6.4.11.5.3. Channel Strategy
6.4.12. Romania Tour Store
6.4.12.1. Overview
6.4.12.2. Product Portfolio
6.4.12.3. Profitability by Market Segments (Product/Channel/Region)
6.4.12.4. Sales Footprint
6.4.12.5. Strategy Overview
6.4.12.5.1. Marketing Strategy
6.4.12.5.2. Product Strategy
6.4.12.5.3. Channel Strategy
6.4.13. Tour My India
6.4.13.1. Overview
6.4.13.2. Product Portfolio
6.4.13.3. Profitability by Market Segments (Product/Channel/Region)
6.4.13.4. Sales Footprint
6.4.13.5. Strategy Overview
6.4.13.5.1. Marketing Strategy
6.4.13.5.2. Product Strategy
6.4.13.5.3. Channel Strategy
6.4.14. Affordable Tours
6.4.14.1. Overview
6.4.14.2. Product Portfolio
6.4.14.3. Profitability by Market Segments (Product/Channel/Region)
6.4.14.4. Sales Footprint
6.4.14.5. Strategy Overview
6.4.14.5.1. Marketing Strategy
6.4.14.5.2. Product Strategy
6.4.14.5.3. Channel Strategy
6.4.15. Tour Radar
6.4.15.1. Overview
6.4.15.2. Product Portfolio
6.4.15.3. Profitability by Market Segments (Product/Channel/Region)
6.4.15.4. Sales Footprint
6.4.15.5. Strategy Overview
6.4.15.5.1. Marketing Strategy
6.4.15.5.2. Product Strategy
6.4.15.5.3. Channel Strategy
6.4.16. Exlpore
6.4.16.1. Overview
6.4.16.2. Product Portfolio
6.4.16.3. Profitability by Market Segments (Product/Channel/Region)
6.4.16.4. Sales Footprint
6.4.16.5. Strategy Overview
6.4.16.5.1. Marketing Strategy
6.4.16.5.2. Product Strategy
6.4.16.5.3. Channel Strategy
6.4.17. G Adventures
6.4.17.1. Overview
6.4.17.2. Product Portfolio
6.4.17.3. Profitability by Market Segments (Product/Channel/Region)
6.4.17.4. Sales Footprint
6.4.17.5. Strategy Overview
6.4.17.5.1. Marketing Strategy
6.4.17.5.2. Product Strategy
6.4.17.5.3. Channel Strategy
6.4.18. TUI China
6.4.18.1. Overview
6.4.18.2. Product Portfolio
6.4.18.3. Profitability by Market Segments (Product/Channel/Region)
6.4.18.4. Sales Footprint
6.4.18.5. Strategy Overview
6.4.18.5.1. Marketing Strategy
6.4.18.5.2. Product Strategy
6.4.18.5.3. Channel Strategy
6.4.19. World Expeditions
6.4.19.1. Overview
6.4.19.2. Product Portfolio
6.4.19.3. Profitability by Market Segments (Product/Channel/Region)
6.4.19.4. Sales Footprint
6.4.19.5. Strategy Overview
6.4.19.5.1. Marketing Strategy
6.4.19.5.2. Product Strategy
6.4.19.5.3. Channel Strategy
6.4.20. Others (As Per Request)
6.4.20.1. Overview
6.4.20.2. Product Portfolio
6.4.20.3. Profitability by Market Segments (Product/Channel/Region)
6.4.20.4. Sales Footprint
6.4.20.5. Strategy Overview
6.4.20.5.1. Marketing Strategy
6.4.20.5.2. Product Strategy
6.4.20.5.3. Channel Strategy
7. Social Media Sentimental Analysis
7.1. Social Media Platforms Preferred
7.1.1. Facebook
7.1.2. YouTube
7.1.3. Instagram
7.1.4. Twitter
7.1.5. LinkedIn
7.1.6. Pinterest
7.1.7. Google+
7.1.8. Others
7.2. Trending #Hashtags
7.3. Social Media Platform Mentions (% of Total Mentions)
7.4. Trending Subject Titles
7.5. Others (during the course study)
8. Assumptions and Acronyms Used9. Research Methodology
List of Tables
Table 01: Capital Investment in Travel & Tourism by Country (US$ Bn)
Table 02: Total Tourist Arrivals (Mn), 2020
Table 03: Total Spending (US$ Mn) and Forecast (2022-2032)
Table 04: Number of Tourists (Mn) and Forecast (2022-2032)
Table 05: Spending per Traveler (US$ Mn) and Forecast (2022-2032)
List of Charts
Figure 01: Total Spending (US$ Mn) and Forecast (2022-2032)
Figure 02: Total Spending Y-o-Y Growth Projections (2017-2032)
Figure 03: Number of Tourists (Mn) and Forecast (2022-2032)
Figure 04: Number of Tourists Y-o-Y Growth Projections (2017-2032)
Figure 05: Spending per Traveler (US$ Mn) and Forecast (2022-2032)
Figure 06: Spending per Traveler Y-o-Y Growth Projections (2017-2032)
Figure 07: Current Market Analysis (% of demand), By Purpose, 2021
Figure 08: Current Market Analysis (% of demand), By Booking Channel, 2021
Figure 09: Current Market Analysis (% of demand), By Consumer Orientation, 2021
Figure 10: Current Market Analysis (% of demand), By Tour Type, 2021
Figure 11: Current Market Analysis (% of demand), By Tourism Type, 2021
Figure 12: Current Market Analysis (% of demand), By Age Group, 2021
