Hong Kong protests trigger tourism collapse from Mainland China, reports ForwardKeys
CHINA (HONG KONG). Tourism from Mainland China to Hong Kong has collapsed in the wake of ongoing protests in the special administrative region, according to a study by analyst ForwardKeys.
The number of Mainland Chinese visitors coming to Hong Kong by air fell by -53.3% year-on-year from 1 July to 23 September. Forward bookings from 24 September to 30 December are -58.2% behind where they were at the equivalent point last year.
Source: ForwardKeys. Click on image to enlarge
ForwardKeys said that the protests, which began on 31 March, initially made little impact on travel to Hong Kong from Mainland China – but a turning point came in mid-July. From that point onwards, flight bookings to China fell “dramatically, hitting a low point in mid-August, coinciding with the shut-down of Hong Kong’s airport”, ForwardKeys said.
The analyst added: “At that moment, bookings fell more than 100%, which means that cancellations exceeded new bookings. The ongoing protests have continued to have a major impact and at the time of production of ForwardKeys’ report in the third week of September, weekly bookings were still more than -40% down on the equivalent week in 2018.”
Source: ForwardKeys. Click on image to enlarge
ForwardKeys APAC Business Development Director Jameson Wong
The Golden Week period – which runs from 1-7 October – is unlikely to spur a recovery, according to ForwardKeys. Although Mainland Chinese visitors traditionally visit Hong Kong in large numbers during Golden Week, forward bookings for the period are -39.7% behind. ForwardKeys noted that the same appears true for the Hong Kong Winter Festival and Christmas sales season (29 November-31 December), with forward bookings currently -68.7% behind.
“Hong Kong is one of the world’s great cities. In addition to being the financial capital of Asia, it is a wonderful place to visit, with attractions like Hong Kong Disneyland, Big Buddha, Victoria Peak and the Star Ferry,” said ForwardKeys APAC Business Development Director Jameson Wong.
“It is also a fantastic shopping destination, with everything from iconic street markets to high-end retail. So, when one considers that mainland China is Hong Kong’s most important source market and the tourism industry is responsible for 300,000 jobs in Hong Kong, these numbers reveal that the demonstrations are delivering a devastating blow to the economy of the special administrative region.”
CHINA (HONG KONG). Tourism from Mainland China to Hong Kong has collapsed in the wake of ongoing protests in the special administrative region, according to a study by analyst ForwardKeys.
The number of Mainland Chinese visitors coming to Hong Kong by air fell by -53.3% year-on-year from 1 July to 23 September. Forward bookings from 24 September to 30 December are -58.2% behind where they were at the equivalent point last year.
Source: ForwardKeys. Click on image to enlarge
ForwardKeys said that the protests, which began on 31 March, initially made little impact on travel to Hong Kong from Mainland China – but a turning point came in mid-July. From that point onwards, flight bookings to China fell “dramatically, hitting a low point in mid-August, coinciding with the shut-down of Hong Kong’s airport”, ForwardKeys said.
The analyst added: “At that moment, bookings fell more than 100%, which means that cancellations exceeded new bookings. The ongoing protests have continued to have a major impact and at the time of production of ForwardKeys’ report in the third week of September, weekly bookings were still more than -40% down on the equivalent week in 2018.”
Source: ForwardKeys. Click on image to enlarge
ForwardKeys APAC Business Development Director Jameson Wong
The Golden Week period – which runs from 1-7 October – is unlikely to spur a recovery, according to ForwardKeys. Although Mainland Chinese visitors traditionally visit Hong Kong in large numbers during Golden Week, forward bookings for the period are -39.7% behind. ForwardKeys noted that the same appears true for the Hong Kong Winter Festival and Christmas sales season (29 November-31 December), with forward bookings currently -68.7% behind.
“Hong Kong is one of the world’s great cities. In addition to being the financial capital of Asia, it is a wonderful place to visit, with attractions like Hong Kong Disneyland, Big Buddha, Victoria Peak and the Star Ferry,” said ForwardKeys APAC Business Development Director Jameson Wong.
“It is also a fantastic shopping destination, with everything from iconic street markets to high-end retail. So, when one considers that mainland China is Hong Kong’s most important source market and the tourism industry is responsible for 300,000 jobs in Hong Kong, these numbers reveal that the demonstrations are delivering a devastating blow to the economy of the special administrative region.”
