The Honk Kong outbound tourism market is estimated to reach US$ 483.0 Million in 2022. As per the report, sales are forecast to increase at a robust 8.5% CAGR from 2022 to 2032. The market is set to reach a valuation of US$ 1,088.0 Million by 2032.
Hong Kong has a great scope in the outbound tourism market. Domestic tourism in the region is very limited and the people of Hong Kong tend to cross regional boundaries for their holidays. It has a great system of transportation that accelerates outbound travel.
Moreover, English is the secondary language used in the country, which acts as an added benefit for travelers while traveling overseas. The residents of Hong Kong possess a special administrative region (SAR) passport, which enables them to travel to more than 160 countries without a visa.
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Additionally, an initiative has been planned to uplift tourism in Southern China, including Hong Kong. This initiative plans to build a Greater Bay Area in the region, which will attract more tourists globally and is expected to boost the economy. This will help to raise the earnings of the residents and increase their spending capacity.
Also, the climatic conditions in Hong Kong are warm and humid, opposite to the climate in other parts of the world. This can act as a push factor to attract more travelers to take international trips.
Key Takeaways from the Hong Kong Outbound Tourism Market Study:
- By booking channel, the online booking segment is anticipated to hold a noteworthy share of nearly 70% in the Hong Kong outbound tourism market by 2032.
- Travelers belonging to the age groups of 36-45 years and 46-55 years are expected to opt for international travel more than the other age groups.
- The Honk Kong outbound tourism market is estimated to reach US$ 483.0 Million in 2022.
- Along with Paris and Singapore, Hong Kong was named the most expensive city in the world in 2019.
- Between 5000 and 6000 people visit Hung Hom each day, which would propel the Hong Kong outbound tourism market by 2032.
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“Special administrative region (SAR) passport and constant efforts for fortification of spending capacity of citizens in Hong Kong are set to drive the Hong Kong outbound tourism market in the next ten years,” says a FMI analyst.
Competitive Landscape: Hong Kong Outbound Tourism Market
Leading players operating in the Hong Kong outbound tourism market are focused on aggressive promotional strategies, advertisements, and new product launches. They are striving to compete with their rivals by investing huge sums in the development of personalized packages catering to specific requirements of tourists.
Some of the leading players in the Hong Kong outbound tourism market
- Expedia
- Trip Advisor
- Any Tours
- Rome 2 Rio
- Thrillophilia
- Thomas Cook
- Romania Tour Store
- Tour My India
- Affordable Tours
- Tour Radar
- Explore
- G Adventures
- TUI China
- World Expeditions
Hong Kong Outbound Tourism Market Outlook by Category
By Purpose:
- Business
- Leisure
- VFR
- Others
By Booking Channel:
- Phone Booking
- Online Booking
- In Person Booking
By Tour Type:
- Independent Traveler
- Tour Group
- Package Traveler
By Age Group:
- 15-25 Years
- 26-35 Years
- 36-45 Years
- 46-55 Years
- 56-65 Years
- 66-75 Years
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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