Recovery of Tourism Demand in Hong Kong from the Global Financial and Economic Crisis
Chon, K, Li, G, Lin, S and Gao, Z (2010) Recovery of Tourism Demand in Hong Kong from the Global Financial and Economic Crisis Journal of China Tourism Research, 6 (3). 259 - 278. ISSN 1938-8160
financial crisis JCTR-22210_Chon SRI version.pdf - Accepted Version
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This study aims to predict the recovery of the Hong Kong tourism industry from the current global financial and economic crisis. Based on the latest statistics available, this study provides updated forecasts of tourist arrivals to Hong Kong from 10 key source markets over the period 2010-2015. The forecasts include annual and quarterly forecasts of tourist arrivals and the market shares of the source markets concerned. An econometric method is used to estimate the demand elasticities as well as their confidence intervals, followed by the interval demand predictions. The total tourist arrivals to Hong Kong are projected to reach 53.8 million by 2015 with the interval forecasts between 38.4 and 74.4 million, representing an annual growth of 10.48% on average against 2009, with an interval ranging from 4.44% to 16.60%. As far as individual source markets are concerned, their demand recovery takes varying paces. Overall, tourism demand in Hong Kong is relatively resilient to the global financial and economic crisis.
|Additional Information:||This is an electronic version of an article published in Journal of China Tourism Research, 6(3), 259-278 (2010). Journal of China Tourism Research is available online at: http://www.tandfonline.com/loi/wctr20|
|Divisions:||Faculty of Business, Economics and Law > Hospitality and Tourism Management|
|Depositing User:||Symplectic Elements|
|Date Deposited:||26 Jul 2012 10:22|
|Last Modified:||09 Jun 2014 13:23|
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