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HK tourism hits new record in August
Wednesday, September 29, 2004
Hong Kong tourism figures hit a record high with more than 2 million visitors in August, according to the latest figures released by the Hong Kong Tourism Board.

A total of 14 million visitors had been recorded in the first eight months of the year, said Selina Chow Liang Shuk-yee, chairwoman of the Hong Kong Tourism Board, who was attending the World Travel Congress opened in Hong Kong on Tuesday night.

Following the magic milestone of 2 million visitors to Hong Kong last month, and averaging about 400,000 visitors a week over the year, Hong Kong is likely to achieve the target of 20.5 million visitors for the full year, said Tourism Board executive director Clara Chong Ming-wah.

Organized by the American Society of Travel Agents, the four-day conference was an opportunity to reinforce Hong Kong`s reputation as the events capital of Asia, said Chong.

The US market is the fourth largest source market for Hong Kong with 683,791 arrivals in 2003, which was a difficult year. In the first seven months in 2004, a total of 578,862 visitors came to Hong Kong from the United States, an increase of 1.07 percent as compared to the same period in 2002.
Theodore Koumelis - Wednesday, September 29, 2004
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How do you expect luxury travel to perform in times of economic downturn?.

Providers of luxury travel products are going to witness shorter stays by their customers and an increase in seasonality.

People are going to become more value conscious and will opt for those luxury offers that represent a convincing value-for-money proposition. Providers of overpriced services are those to feel the pinch.

Both people paying for their personal trips and firms paying for their top executives' business trips will cut back on travel expenses, thus affecting all luxury travel providers.

It is going to be business as usual. Those people opting for high-end travel products are not going to be affected by the looming crisis.

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