Hong Kong Tourism Rebounds, But Spending Lags Behind Visitor Numbers
Hong Kong's tourism is showing a strong recovery in visitor numbers, but actual spending has not kept pace. Officials are urged to differentiate between footfall and financial returns to accurately measure success.
When it comes to tourism, Hong Kong is recovering footfall faster than spending and officials need to realise that the two are not the same. The city’s economy grew by 5.9 per cent year on year in the first three months, its strongest quarterly performance in almost five years, according to the Census and Statistics Department’s advance estimate. Financial Secretary Paul Chan Mo-po pointed to a 17 per cent rise in first-quarter visitor numbers and 5.2 per cent increase in retail and catering...