HONG KONG--(Business Wire)--
Globalysis Ltd., a leading boutique strategy consultancy, issued
its 2008 mid-year tourism sector outlook for Hong Kong Special
Administrative Region (SAR), People's Republic of China today. The
industry report provides a macro-perspective of the dynamics of Hong
Kong's tourism sector, including its hotel lodging, airline, MICE, and
retail industries.
Mr. Jeff Voyles, Partner at Globalysis Ltd., stated, "Now more
than ever, Hong Kong faces stiff competition for tourist dollars from
other Asian destinations such as Singapore, Vietnam and Macau. Hong
Kong must constantly seek new tourism value drivers to enhance tourism
visitation. Moving forward, it will be important for Hong Kong's
tourism industry to be sensitive to the growing levels of global
economic volatility in their strategic business planning."
The following are some industry highlights of the Globalysis
report:
Hotels: Hong Kong's hotels should continue sustained growth in
2008, with Average Room Rates (ARR) estimated to rise approximately
8.1% year-on-year over 2007 to HK$1314 (US$168). Hong Kong's hotel
occupancy levels are expected to remain among the highest in the
world.
Airlines: Hong Kong's airline industry is stable and should
sustain a modest growth path - with Hong Kong International Airport
expected to handle a milestone 50 million passengers in 2008. However,
sustained high fuel prices could bring significant risks to airline
industry performance.
MICE: With growing regional competition for business tourists from
Bangkok, Singapore and other cities, Hong Kong is turning its
strategic focus to developing its MICE industry to attract higher
spending business visitors.
The outlook estimates that Hong Kong will welcome approximately 30
million visitors for CY2008, with a 7% rise over arrivals in CY2007.
The report also forecasts that tourism revenues grow to HK$154.6
billion (US$19.8 billion) for 2008.
The full 8-page report may be purchased at www.marketresearch.com
under keyword 'globalysis.'
NOTE TO EDITORS: The full report is available to press/media at no
cost - requests can be made to media@globalysis.com.
About Globalysis
Globalysis Ltd. is a leading Las Vegas, Nevada-based boutique
travel and leisure sector strategy consultancy focusing on the hotel,
airline, casino gaming, and real estate industries in the global
travel and leisure sector. The firm has served several Global 1000
companies on issues of country planning, market analysis, and joint
venture strategy.
(C) 2008 Globalysis Ltd., All Rights Reserved.
Globalysis Ltd.
Jonathan Galaviz, +1-702-357-8883
media@globalysis.com
http://www.globalysis.com
Copyright Business Wire 2008
