How is Hong Kong weathering the economic storm here in the U.S.?
Like every destination right now, Hong Kong is experiencing a decline in arrivals. Travel is based on disposable income, and at times like these most travelers are unsure how much of their income is disposable. The Beijing Olympics this past summer also intimidated some travelers because they imagined it would create an over packed situation not only in Beijing but in other popular Chinese cities, so that also impacted Hong Kong. Add to that the high fuel prices in August and we had a pretty tough time, but prior to that 2008 was good. Our cumulative arrivals were up January through July, but in August travelers began hunkering down. Is this a long-term problem for Hong Kong? In 2007 we were up 6.2 percent out of the U.S. market; some 1.23 million arrivals made the U.S. our most important long-haul market. The next best long-haul market is the United Kingdom, which logged about 600,000 arrivals in 2007. Over the last five years we’ve enjoyed record arrivals and our destination recovere
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