business · On.cc

Visitor Spending Plunges 44% from 2018 Levels, Lawmaker Cites Global Trend

On.cc · 2 SOURCESabout 5 hours ago2 MIN

Summary

Hong Kong's tourism sector faces significant challenges as visitor spending has fallen dramatically compared to pre-pandemic levels. Legislative Council's Data Highlights reveals that 2023 visitor consumption dropped 44% from 2018, while Hong Kong residents' overseas spending actually grew 10% during the same period . Lawmaker Yiu Pak-leung argues this reflects a global phenomenon of changed tourist behavior rather than a uniquely local problem .

Key Points

Visitor arrivals reached 50 million in 2023, approximately 75% of 2018's peak figure, yet spending fell far more sharply at 44% .
Total visitor consumption stood at HK$197.5 billion, down significantly from 2018 levels .
Overnight visitors spent HK$5,503 per person on average, a 17% decrease, while same-day visitors spent just HK$1,139, plummeting 48% .
Local retail suffered severely: department store sales crashed 43%, jewelry and watches fell 39%, and clothing and footwear dropped 32% .
Yiu Pak-leung suggests attracting Southeast Asian tourists from Vietnam, Indonesia and Thailand, and promoting more events like French May and Kowloon City Songkran festival .

Why It Matters

The structural shift in tourist behavior threatens Hong Kong's traditional retail-dependent tourism model, requiring fundamental repositioning toward experiential travel . With mainland residents increasingly spending in Shenzhen and other mainland cities, Hong Kong must diversify its visitor sources and enhance cross-border Greater Bay Area tourism collaboration to remain competitive .