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Travel to Hong Kong Is Back — Here's What It's Like to Visit and What to See and Do

After three years of near-total closure, Hong Kong is finally back on the tourist map. One travel reporter returns to the city to determine what’s changed — and what’s better than ever.

hong kong tourism 2023

Virgile Simon Bertrand/Courtesy of Herzog & de Meuron

It seemed almost too good to be true. After 34 months of hard quarantine rules and ever-shifting regulations that scared off all but the most determined travelers, Hong Kong announced in late 2022 that it would drop almost all COVID-19 restrictions. These days, only a self-administered rapid test is required of visitors coming from the U.S.

I jumped at the chance to be one of the first Americans to enter under the newly relaxed rules. Though I hadn’t been to Hong Kong since May 2019, this would be my 12th visit to the city — a place that my parents once called home. Much has changed, as a result of both the pandemic and recent political turmoil, including protests against government curbs on freedom of expression. Yet I still found much to enjoy, not least Hong Kong’s blend of Chinese and international cultural influences — a mix that, as a Chinese American, resonates particularly strongly for me.

“Now more than ever, we want to remind travelers what there is to love about our city — its rich and layered culture, its historic-meets-contemporary atmosphere,” says Hugo Montanari, managing director of the Rosewood Hong Kong .

Here’s how to make the most of a trip, whether it’s your first, or just your first in a while.

What’s New Around Town

Lok Cheng/Courtesy of M+, Hong Kong

Despite the difficulties of the past few years, Hong Kong has undergone a museum renaissance, particularly in the West Kowloon Cultural District, which sprawls along reclaimed land lining Victoria Harbour. The centerpiece is M+ , a self-described “global museum of visual culture,” which opened in November 2021. During my visit, I was impressed by several exhibits, including the permanent installation Conserving Neon Culture, which celebrates the electric signs that have illuminated Hong Kong for decades. Though a Yayoi Kusama show closed in mid-May, other intriguing options, like a survey of contemporary Chinese art, will run through the summer.

Meanwhile, the Peak Tram , a Hong Kong classic since it opened in 1888, has gotten a glow-up. In August 2022, new (if retro-looking) carriages increased capacity on the line by 75 percent and are wheelchair accessible. Unchanged is the lovely journey from Central to the top of Victoria Peak, where visitors can soak in sweeping views of the Hong Kong skyline.

Where to Stay Now

Courtesy of Four Seasons Hotels and Resorts

For much of the past three years, Hong Kong’s legendary hotels have hosted local staycationers rather than overseas visitors — but they’ve also taken time to rebuild and refresh. Four Seasons Hotel Hong Kong , for example, redesigned its 399 rooms and suites and opened Argo, an ambitious art deco–ish bar with skyline views that went straight onto the 2022 World’s 50 Best list. “We have full confidence that Hong Kong is back on the global stage,” says hotel general manager Christian Poda.

Other big names, such as Mandarin Oriental, Hong Kong and Regent Hong Kong, which was formerly the InterContinental, have also gone through major renovations. For its part, The Peninsula Hong Kong has introduced wellness programs, including classes and mindfulness retreats.

New properties on the scene include The St. Regis Hong Kong , which was Marriott’s 7,000th hotel when it opened in 2019. The Fullerton Ocean Park Hotel Hong Kong is the brand’s first in the city — and its first-ever resort-style property, with a spa, a massive pool, and a water park.

Montanari, the Rosewood GM, is meanwhile eager to show off his hotel, which occupies 25 floors of a 65-story Kowloon tower overlooking the harbor. Though the property opened in 2019, this year will be the first opportunity many international guests will have to see it. “We expect a resurgence of international business and leisure travel,” the hotelier tells T+L. “And we’re looking forward to the return of cultural events such as Art Basel.”

The Scoop on Dining

Hecho/Courtesy of Sake Central

In addition to easing entry requirements, authorities in Hong Kong have eliminated the curfews and mask mandates that had kept a tight lid on dining out. “There’s an optimism in the air,” says Elliot Faber, a restaurateur who has lived in Hong Kong for more than a decade. “Now is a great time to visit, because you can feel the energy — but it’s not impossible to get a seat,” adds Faber, who’s part of the team at Sake Central. “I see things improving for the first time in a long time.”

Getting There Made Easier

In March, United Airlines resumed its daily nonstops from San Francisco, on Boeing 777s outfitted with 60 Polaris business-class seats. At the same time, Cathay Pacific continues to increase service between the city and the U.S., with capacity expected to return to pre-pandemic levels by 2024. The carrier is also one of four working with the Hong Kong Tourism Board to give away 500,000 free flights to the city , including some seats reserved for North Americans. Sadly for those who didn’t jump at the offer, the free seats have already been snapped up, Cathay Pacific says, “due to popular demand.”

A version of this story first appeared in the May 2023 issue of Travel + Leisure under the headline "Electric Once More.”

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The Guide to Rediscovering Hong Kong in 2023

Next time you’re in hong kong, visit these art spaces, hong kong island.

Blue House on Stone Nullah Lane in Wan Chai. Photo: Courtesy of Blue House

Ferry ride leaving Central Piers to the outlying islands. Photo: Gideon de Kock

The Evolution of Hong Kong Cinema, From Legacy to New Indie

Kowloon Walled City park at night. Photo: Sarah Wei

Sham Shui Po during the day. Photo: Gideon de Kock

Mong Kok with lines of mini buses to neighboring districts. Photo: Gideon de Kock

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27 Things to do in Hong Kong + Hong Kong Tourist Spots

A gawk-worthy modern skyline and exciting urban attractions are the top reasons that got me on a plane to Hong Kong on my first trip abroad. Hong Kong’s compact size makes it incredibly convenient to navigate and explore, allowing you to make the most of your time even on a short visit. Whether you’re a shopaholic, a theme park enthusiast, a culture lover, or a history buff, Hong Kong has something to offer.

Prepare to be dazzled by the city’s stunning urban views, go on scenic harbor cruises, and indulge in the delicious local cuisine. This guide will help you plan your itinerary and embark on an unforgettable journey through Hong Kong, where East meets West in a harmonious blend of tradition and modernity.

Here’s a list of beautiful places to visit in Hong Kong including top things to do & the best Hong Kong tourist spots.

To make your trip planning easy, I’ve added links to the locations on Google Maps. Feel free to click/tap on the links posted. Then, use the “save” feature on the Google Maps app. Seeing all your saved locations on the map will help you get started on planning your Hong Kong itinerary and know the best areas to stay, near places you want to go.

See also: Hong Kong Itinerary + Travel Guide , 14 Places To Visit in Macau , Hong Kong Itinerary , Best Travel Booking Apps . View all travel tips on: Hong Kong .

Best Things To Do in Hong Kong

1. Have fun at Hong Kong Disneyland

hong kong tourism 2023

Disneyland Hong Kong in Lantau Island, Hong Kong

Location : Lantau Island, Hong Kong . Save on Google Maps .

Experience a magical adventure at Hong Kong Disneyland! This attraction is a must-visit for all travelers. Meet your favorite Disney characters, explore enchanting lands like Fantasyland and Tomorrowland, and enjoy thrilling rides like “Space Mountain.” With something for everyone, Hong Kong Disneyland guarantees a day of joy and excitement. Make sure to check the schedule before you go, so you don’t miss the spectacular parades happening throughout the day and the must-see evening fireworks show.

Disneyland Hong Kong Park Ticket

The Hong Kong Disneyland ticket price online is HKD 590 per adult for a 1-day general admission (regular day). Walk-in price is HKD 639.

Book here See all discounts

Disneyland Food Vouchers

Enjoy big discounts on combo meals and snacks by booking online.

Where to stay near Hong Kong Disneyland

Hong Kong Disneyland Hotel Location: Hong Kong Disneyland Resort.  Save on Google Maps . Book here

Disney’s Hollywood Hotel Location: Hong Kong Disneyland Resort.  Save on Google Maps . Book here

Disney Explorers Lodge Location: Hong Kong Disneyland Resort.  Save on Google Maps . Book here

How to go :

Very easy to get to since it’s connected with the MTR train system. Take the Orange MTR Line to Sunny Bay and switch to Disneyland Resort “Pink” MTR Line.

Best time to visit is in the afternoon if you want to explore the park and watch the beautiful fireworks show at Sleeping Beauty Castle, which lights up the sky every night. Go to Main Street at least 15-minutes early to get a good spot before the crowds join in.

Disneyland MTR Train (Public Transport)

Enjoy discount fares on HK Public transport and hasslse-free trips by using an Octopus Card.

Private Disneyland Transfers

Car MPV (6 pax) Tesla

Book your trip to Hong Kong

Before you start ticking goals off your bucketlist, here are travel essentials & discounts you’ll need to check. Pre-book online for a hassle-free trip! Click below to compare rates & read reviews:

Hong Kong Hotels Tours + discounts Flights Airport transfers WIFI Internet/Data SIM

Popular tours & discounts booked by other travelers:

Hong Kong Disneyland Admission Ticket

Ocean Park Hong Kong Admission Ticket

Victoria Peak Tram and Sky Terrace 428

Hong Kong-Macau TurboJet Ferry Tickets

Hong Kong-Macau 3G 4G Pocket Wifi Internet

Hong Kong Airport Express Train Tickets

Where to stay in Hong Kong:

InterContinental Hotel

Splurge / Tsim Sha Tsui

See discounts

Four Seasons Hotel

Splurge / Central

The Salvation Army

Mid-Range / Yau Ma Tei

Victoria Hotel

Mid-Range / Tsim Sha Tsui

Budget / Yau Ma Tei

Yiu Fai Guest House

Budget / Tsim Sha Tsui

Apple Inn @ TST

Budget Backpacker / Tsim Sha Tsui

Hop Inn on Mody

For more travel inspiration,  follow Detourista on :

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2. Ride the Tram up Victoria Peak

hong kong tourism 2023

Hong Kong skyline view from The Peak Tram, Victoria Peak

Location : The Peak, Hong Kong . Save on Google Maps .

Embark on an unforgettable journey up Victoria Peak aboard the iconic Peak Tram. This thrilling ride offers breathtaking views of Hong Kong’s stunning skyline and lush landscapes. As you ascend, hold on tight and feel the excitement build. Once at the top, step onto the Sky Terrace 428, the highest viewing platform in Hong Kong, and take in the panoramic vistas of the city. While there, don’t miss the opportunity to visit the famous Madame Tussauds Wax Museum and Trick Eye Museum for an added dose of entertainment and fun.

Victoria Peak Tram tickets

Ticket price for the Peak Tram Sky Pass (The Peak Tram + Sky Terrace 428) is HKD148 per adult for a return journey.

Book here See more

Ride the MTR to Central. Take the J2 exit and walk to the Peak Tram lower terminus along Garden Road. Board The Peak Tram to get to The Peak Tower. You may go to Victoria Peak more cheaply by taking the bus and go trekking along the Peak Circle Walk. There are a couple of scenic viewing decks along the way. The bus ride down the steep roads of the hill has its own thrills. It’s a good alternative if you want to take a different route back to Central Hong Kong.

3. Sail across Victoria Harbour

hong kong tourism 2023

Victoria Harbour Cruise in Hong Kong

Location : Between Hong Kong Island and Kowloon (mainland) . Save on Google Maps .

Experience the awe-inspiring beauty of Victoria Harbour in Hong Kong. Hop on the iconic Star Ferry for a scenic journey across the harbor, surrounded by breathtaking city views. Enhance your experience with a Victoria Harbour Cruise, where you can cruise along the shimmering waters and witness the mesmerizing Symphony of Lights. This captivating lights and sound show takes place every evening, usually at around 8 pm, and adds a magical touch to the stunning harbor scenery.

Victoria Harbour Cruise

4. Explore Ngong Ping & Lantau Island

hong kong tourism 2023

Nong Ping 360 Cable Car in Lantau Island, Hong Kong

Location : Lantau Island, Hong Kong (near Hong Kong International Airport) . Save on Google Maps .

On Lantau Island, near Hong Kong Disneyland and Hong Kong International Airport, the imposing Tian Tan Buddha, known as the Big Buddha, awaits. Accessible via the Ngong Ping 360 Cable Car, the journey itself is a thrill. Enjoy sweeping aerial views of Lantau Island, Hong Kong International Airport, South China Sea, and the picturesque surrounding landscapes. Explore the Ngong Ping village and stroll through the serene surroundings, marveling at the magnificent Buddha statue on your way to the tranquil Po Lin Monastery, famous for its hall with almost 13,000 miniature Buddha statues.

Ngong Ping 360 Cable Car Ticket

Ticket price for the standard cabin is HKD235 per adult for a return journey and HKD160 per adult for a single journey.

Take the MTR to Tung Chung Station. Walk to the Ngong Ping 360 Cable Car lower terminus and take the cable car to Ngong Ping Village.

5. Discover Hong Kong’s districts

hong kong tourism 2023

Avenue of Stars in Hong Kong

Immerse yourself in the diverse districts of Hong Kong, each offering its unique charm. Experience the bustling streets and shimmering lights of Tsim Sha Tsui, and take a stroll along the Avenue of Stars for mesmerizing skyline views. Head to West Kowloon for a cultural feast. Marvel at contemporary art in the M+ Museum and ascend to Sky100 for breathtaking panoramas. In Central, the city’s financial core, embark on a delightful food trip and visit iconic landmarks like Victoria Peak and Man Mo Temple. Hop on the train to Ocean Park and dive into a world of exciting rides, animal encounters, and fun shows.

Hong Kong Public Transport Multi-Attraction Passes

Octopus Card  — Enjoy discount fares and hassle-free trips on HK’s public transport. Conveniently ride the MTR (train/subbay), bus, ferry, coach, and tram with just a tap of your Hong Kong Tourist Octopus Card Book here

Klook Pass  — Save big during your trip in Hong Kong. This is a must book for travelers visiting multiple attractions. Especially if you plan to visit & book and one of these: Disneyland, Ocean Park, Ngong Ping 360 cable car, Airport Express MTR Book here

Klook Go Hong Kong ! All-in-One Value Pack  — Additional savings when you book on Klook. Get your money back in discounts after purchasing this voucher. Book here

6. Go on a Day Trip to Macau

hong kong tourism 2023

Senado Square, Macau

Location : Southeast China, East Asia (60 km east of Hong Kong approx.) . Save on Google Maps .

Macau is easy to visit from Hong Kong, even on a day trip! Just a short ferry ride away, Macau awaits with its captivating blend of Chinese and Portuguese cultures. Explore the historic streets of the UNESCO-listed Historic Centre of Macau, where colonial architecture harmoniously coexists with Chinese temples. Test your luck at the world-famous casinos lining the Cotai Strip. Indulge in delectable Portuguese cuisine and savor mouthwatering egg tarts.

Hong Kong – Macau Ferry

Hong kong – macau bus.

Macau Travel Essentials

Where to stay Tours + discounts Check Fares

Top discounts

Gondola Rides at The Venetian Macau

Macau Tower Admission Ticket

See more : Go on a Day Trip to Macau travel tips

14 Places To Visit in Macau

Lantau Island Tourist Spots & Attractions

7. Ngong Ping 360 Cable Car

hong kong tourism 2023

Location : Tung Chung & Ngong Ping Village, Lantau Island, Hong Kong . Save on Google Maps .

The Ngong Ping Cable Car is a thrilling and scenic attraction in Hong Kong. It takes you high above the mountains, offering breathtaking views of the surrounding landscapes. As you soar through the air, you’ll be captivated by the panoramic beauty below. It’s a must-visit experience for adventure seekers and nature lovers, allowing you to witness the natural wonders of Hong Kong from a unique vantage point.

See  Ngong Ping & Lantau Island .

8. Ngong Ping Village

hong kong tourism 2023

Nong Ping Village and Tian Tan Buddha built on the mountains of Lantau Island, Hong Kong

Location : 111 Ngong Ping Rd, Lantau Island, Hong Kong . Save on Google Maps .

At the end of the thrilling cable car ride, you’ll arrive at the enchanting Ngong Ping Village. Nestled among picturesque mountains, this charming village offers a serene escape from the bustling city. Take a leisurely stroll through its narrow streets and immerse yourself in the Chinese-style architectural elements, with traditional buildings, tea houses, and souvenir shops. It’s the perfect place to eat and refuel while exploring nearby attractions such as the Tian Tan Big Buddha and Po Lin Monastery.

9. Tian Tan Buddha

hong kong tourism 2023

The giant Tian Tan “Big” Buddha, in Lantau Island, Hong Kong

Location : Ngong Ping, Lantau Island, Hong Kong . Save on Google Maps .

The Tian Tan Buddha is a famous attraction in Hong Kong, renowned for its grandeur and spiritual significance. This massive bronze statue, also known as the Big Buddha, stands tall and majestic, captivating visitors with its serene presence. As you approach the statue, you’ll feel a sense of awe and tranquility. Climbing the steps to the Buddha offers a unique experience, allowing you to admire the surrounding beauty and enjoy panoramic views of the lush mountains.

10. Po Lin Monastery

hong kong tourism 2023

Po Lin Monastery in Ngong Ping, Lantau Island, Hong Kong

The Po Lin Monastery, located just a short walk away from Ngong Ping Village, is a must-visit highlight in Lantau Island. As one of the most revered Buddhist temples in Hong Kong, it offers a serene and tranquil atmosphere. As you approach the monastery, you’ll see worshippers offering incense and prayers. The main temple features three statues of the Buddha and is adorned with intricate architecture. The characters on top of the main temple spell out “Po Lin Monastery,” meaning “Precious Lotus.” The lotus flower symbolizes purity in Buddhism. Another nearby attraction is the Wisdom Path, a scenic walk that complements the spiritual experience.

11. Disneyland Hong Kong

See  Disneyland Hong Kong .

12. See more of Lantau Island

hong kong tourism 2023

Citygate Outlets in Tung Chung, Lantau Island, Hong Kong

Other interesting spots in Lantau Island

Citygate Outlets  — This huge mall in Tung Chung, filled with outlet stores, is a great spot for bargain shopping. Easy to visit since it’s connected to Tung Chung MTR station. Location: Tung Chung, Lantau Island.  Save on Google Maps .

Tai O Fishing Village Location: Tai O, Lantau Island.  Save on Google Maps .

Lantau Peak Location: Lantau Island.  Save on Google Maps .

Central & Hong Kong Tourist Spots & Attractions Island Tourist Spots & Attractions

13. The Peak Tram

hong kong tourism 2023

The Peak tram in Central, Hong Kong

Location : Central, Hong Kong . Save on Google Maps .

The Peak Tram is one of the iconic experiences in Hong Kong. Hop on this historic tram for a thrilling ascent up Victoria Peak. As you ride, be prepared for a steep incline and breathtaking views of the city. Dating back to 1888, it carries a nostalgic charm. The tram conveniently grants access to popular attractions like Sky Terrace 428 and Madame Tussauds Hong Kong. The ride takes around 7-8 minutes, starting from the Lower Peak Tram Terminus in the Central district. For the best view, grab a seat on the right side of the carriage on your way up, and the left side on your way down.

See  Victoria Peak .

14. Sky Terrace 428 & Victoria Peak

hong kong tourism 2023

Hong Kong skyline view from Sky Terriace 428 in Victoria Peak, Hong Kong

Location : 1 Lugard Rd, The Peak Tower, Victoria Peak, Hong Kong . Save on Google Maps .

Sky Terrace 428 at The Peak Tower, situated on Victoria Peak, is the highest 360-degree viewing platform in Hong Kong. From this elevated vantage point, visitors can marvel at the iconic city skyline, lush mountains, and the glistening waters of Victoria Harbour. It’s the perfect spot to capture Instagram-worthy photos and enjoy Hong Kong’s awe-inspiring panoramic views.

Apart from Sky Terrace 428, Victoria Peak offers a range of attractions and activities. Explore Madame Tussauds and Monopoly Dreams for unique experiences. Take a leisurely stroll on the Peak Circle Walk, enjoying the stunning flora and fauna, and enjoy a food trip at The Peak Tower.

Victoria Peak Attractions

Madame Tussauds Location: Shop P101, The Peak Tower, No, 128 Peak Rd, The Peak, Hong Kong.  Save on Google Maps . Book here

Monopoly Dreams Location: The Peak Galleria, Hong Kong.  Save on Google Maps . Book here

15. Man Mo Temple

hong kong tourism 2023

Man Mo Temple in Central, Hong Kong

Location : Man Mo Temple, Hollywood Rd, Sheung Wan, Hong Kong . Save on Google Maps .

Step inside the incense-filled ambiance, admire the historical relics, and immerse yourself in the spiritual traditions of Hong Kong at the Man Mo Temple. This must-visit attraction in Central, Hong Kong, is the largest Man Mo temple in the city. Located on the bustling Hollywood Road in Sheung Wan, it is surrounded by trendy restaurants and old-school Chinese antique shops. The temple’s traditional architecture, adorned with ornate decorations, transports visitors to a bygone era.

16. HK Central Business District

hong kong tourism 2023

Shopping district at Central, Hong Kong

When in Central, make sure to explore the vibrant Hong Kong Central Business District (CBD). Adorned with iconic skyscrapers, this bustling district is home to renowned financial institutions, corporate headquarters, luxury shopping malls, and fine dining establishments. Immerse yourself in the energetic atmosphere as you wander through the bustling streets. Treat yourself to a food trip and savor the delectable local cuisine in Hong Kong. The CBD is a hotspot for mouthwatering dishes, with a wide range of local food restaurants

17. Ocean Park Hong Kong

hong kong tourism 2023

Doplhin show at Ocean Park Hong Kong

Location : Aberdeen, Hong Kong Island . Save on Google Maps .

Ocean Park Hong Kong, located on the southern coast of Hong Kong Island, is one of the world’s most popular marine-themed amusement parks. With its stunning ocean views and lush greenery, it offers a captivating experience for visitors. Encounter adorable giant pandas, marvel at the vibrant marine life in the Grand Aquarium, and be entertained by dolphins and sea lions at the Ocean Theatre. Take a cable car ride for a scenic journey through the park. And for thrill-seekers, Ocean Park features a wide range of thrilling rides and roller coasters that are sure to get your heart racing.

Ocean Park Hong Kong ticket

The Ocean Park Hong Kong ticket price is HKD345 per adult for a 1-day general admission.

Ride the MTR to Admiralty station. Take Exit B and walk to the terminal of Bus 629 at the corner of Drake and Tamar Streets. Ride Bus #629 to Ocean Park. The fare is HKD10.

18. Braemar Hill Peak

hong kong tourism 2023

Braemar Hill Peak in Hong Kong

Location : Braemar Hill, Tai Tam, Hong Kong . Save on Google Maps .

ooking for a quick hike in Hong Kong? Braemar Hill offers one of the best views overlooking the iconic Victoria Harbour, showcasing the breathtaking skylines of both Central Hong Kong and Kowloon (Tsim Sha Tsui). The hike to Braemar Hill Peak takes only around 30 minutes or less. Best of all, exploring Braemar Hill is completely free. Escape the crowds and indulge in a budget-friendly adventure while enjoying the magnificent vistas of Hong Kong’s captivating cityscape. Braemar Hill is the perfect destination to experience the beauty of Hong Kong’s cityscape.

19. See more of Hong Kong Island

hong kong tourism 2023

Pottinger Stone Slabs Street in Central, Hong Kong

Other interesting spots in Hong Kong Island

Pottinger Stone Slabs Street  — A historic pedestrian street in Hong Kong known for its unique stone steps and bustling shops, Location: Central, Hong Kong.  Save on Google Maps .

Lan Kwai Fong  — A renowned entertainment district famous for its vibrant nightlife, bustling bars, restaurants, and energetic atmosphere Location: 1 Lan Kwai Fong, Central, Hong Kong.  Save on Google Maps .

Happy Valley Racecourse  — a historic and iconic horse racing venue renowned for its thrilling races Location: Wong Nai Chung Rd, Happy Valley, Hong Kong Island.  Save on Google Maps .

Dragon’s Back Hike  — A popular trail that offers breathtaking views of the lush greenery, and scenic coastline of southeast Hong Kong Island Location: Shek 0, Hong Kong Island.  Save on Google Maps .

Tsim Sha Tsui & Kowloon Tourist Spots & Attractions Island Tourist Spots & Attractions

20. Avenue of Stars

hong kong tourism 2023

Location : Tsim Sha Tsui Promenade, Kowloon, Hong Kong . Save on Google Maps .

The Avenue of Stars is the iconic centerpiece of the Tsim Sha Tsui Promenade, offering amazing views of Hong Kong Island’s skyline and Victoria Harbour. Stroll along the promenade and discover handprints and statues of beloved movie stars, including the statues of Bruce Lee and Anita Mui. For the best experience, make sure to visit the Avenue of Stars during the Symphony of Lights, which takes place every evening.

21. Tsim Sha Tsui Promenade

hong kong tourism 2023

Clock Tower in Tsim Sha Tsui, Hong Kong

Location : Tsim Sha Tsui, Kowloon, Hong Kong . Save on Google Maps .

There’s more to see and do at the Tsim Sha Tsui Promenade apart from marveling at the Hong Kong skyline and visiting the Avenue of Stars. Explore the historic Clock Tower, a remnant of the original Kowloon-Canton Railway terminus. Indulge in a delightful waterfront dining experience at the numerous restaurants offering delicious cuisine and sea views. Immerse yourself in educational and artistic experiences at the Space Museum, Hong Kong Cultural Centre Cultural Centre, and Hong Kong Museum of Art.

Where to go in Tsim Sha Tsui Promenade & nearby areas

Avenue of Stars

Clock Tower Location: Tsim Sha Tsui.  Save on Google Maps .

Hong Kong Cultural Centre Location: Tsim Sha Tsui.  Save on Google Maps .

Hong Kong Museum of Art Location: Tsim Sha Tsui.  Save on Google Maps .

Hong Kong Space Museum Location: Tsim Sha Tsui.  Save on Google Maps .

Tsim Sha Tsui Waterfront Park Location: Tsim Sha Tsui.  Save on Google Maps .

Signal Hill Garden Location: Tsim Sha Tsui.  Save on Google Maps .

Hong Kong Museum of History Location: 100 Chatham Rd S, Tsim Sha Tsui.  Save on Google Maps .

22. Star Ferry

hong kong tourism 2023

Star Ferry Pier in Tsim Sha Tsui, Hong Kong

Location : Tsim Sha Tsui Star Ferry Pier – Central Pier, Hong Kong . Save on Google Maps .

Experience the iconic Star Ferry in Hong Kong, crossing from Tsim Sha Tsui to Central. Since its establishment in 1888, it has been an integral part of the city’s transportation system and a symbol of its heritage. It’s not only a cheap mode of transportation but also a memorable way to get a scenic view of Hong Kong’s breathtaking skyline.

See  Victoria Harbour .

23. Victoria Harbour Cruise

hong kong tourism 2023

Location : Hong Kong . Save on Google Maps .

Embark on a delightful Victoria Harbour Cruise, a must-do attraction in Hong Kong. Sail along the stunning Victoria Harbour and be captivated by the mesmerizing cityscape surrounding you. Choose from different schedules, including sunset sail, evening sail, or during the Symphony of Lights, to experience the harbor at its most enchanting moments. Marvel at the breathtaking views of the Hong Kong skyline, Central district, and Kowloon, while feeling the gentle breeze

24. Symphony of Lights

hong kong tourism 2023

Symphony of Lights from Tsim Sha Tsui, in Hong Kong

A trip to Hong Kong is not complete without watching the Symphony of Lights. This iconic multimedia light and sound show takes place every evening at 8:00 PM, transforming the city’s skyline into a mesmerizing display of lights, lasers, and music. Head to the Tsim Sha Tsui Waterfront to enjoy panoramic views of the impressive Central Hong Kong Skyline and Victoria Harbor while being captivated by this breathtaking spectacle.

Take the MTR to Tsim Sha Tsui or East Tsim Sha Tsui Station. Proceed to Exit J and follow the signs to Tsim Sha Tsui Waterfront.

From there, it’s an easy walk to many museums in the area including the Hong Kong Space Museum, Hong Kong Museum of Art, Hong Kong Cultural Centre, Hong Kong Museum of History, Hong Kong Science Museum, Hong Kong Heritage Discovery Centre, and Health Education Exhibition and Resource Centre. And, Hong Kong’s historic landmarks like the Former Kowloon-Canton Railway Clock Tower.

25. Temple Street & Night Makets

hong kong tourism 2023

Hong Kong Night Market in Hong Kong

Location : Temple St, Jordan, Kowloon, Hong Kong . Save on Google Maps .

Located in Yau Ma Tei, Temple Street is one of Hong Kong’s most famous night markets, renowned for its vibrant street shopping, lively atmosphere, and a wide array of delicious street food. Indulge in the mouthwatering flavors of Hong Kong with must-try treats such as Egg Waffles, Hong Kong-style Milk Tea, Curry Fish Balls, and Egg Tarts. Apart from Temple Street, other popular night markets in Hong Kong include the Ladies’ Market in Mong Kok, Fa Yuen Street (Sneaker Street) in Mong Kok, and the Jade Market in Yau Ma Tei. These night markets offer diverse shopping experiences, from fashion and accessories to cultural items, giving visitors a taste of Hong Kong’s vibrant street life.

26. See more of Kowloon

Interesting spots in West Kowloon

M+ Museum  — Impressive contemporary art collection and captivating architectural design, offering a unique and enriching experience for art enthusiasts and those seeking artistic inspiration. Location: West Kowloon Cultural District, Hong Kong.  Save on Google Maps . Book here

Sky100 Observation Deck  — Located on the 100th floor of Hong Kong’s tallest building, Sky 100 offers a breathtaking 360-degree panoramic view of Hong Kong’s iconic landmarks. Standard entry price on Sky100 Hong Kong Observation Deck costs HKD 148 (discount price online) Book here

Hong Kong Palace Museum  — Showcases a rich collection of Chinese cultural artifacts, providing visitors with a captivating glimpse into the country’s ancient heritage and artistic treasures. Location: 8 Museum Drive West Kowloon, Tsim Sha Tsui, Hong Kong.  Save on Google Maps . Book here

Beyond Kowloon

Lion Rock Hike  — A renowned and scenic trail in Hong Kong, known for its resemblance to a crouching lion and offering panoramic city views Location: Wong Tai Sin District.  Save on Google Maps .

Beyond Hong Kong

See  Macau .

Location : East Asia . Save on Google Maps .

Taiwan, a captivating destination to explore near Hong Kong, is renowned for its dynamic capital city of Taipei, breathtaking natural landscapes, rich historical sites, and delectable food scene. The most popular mode of transportation from Hong Kong to Taiwan is by air, with frequent flights available between Hong Kong International Airport (HKG) and Taiwan Taoyuan International Airport (TPE). The flight duration typically ranges from 1.5 to 2 hours, ensuring a seamless and swift journey to discover the wonders of Taiwan.

Taiwan Travel Essentials

Tours + discounts Check Fares

Taiwan 4G Unli Internet/Data Pocket Wifi

Yehliu-Shifen-Jiufen Shuttle Bus from Ximen

Taipei 101 Observatory Admission Ticket

See more : Taiwan travel tips

Taipei Itinerary + Travel Guide

Location : Southeast Asia (mainland) . Save on Google Maps .

Like Hong Kong, Singapore is one of the best cities to visit for first-time travelers. Known as Asia’s “Lion City,” Singapore is a vibrant cosmopolitan hub famous for its impressive skyline, multicultural heritage, and world-class attractions. It offers a captivating blend of modernity and tradition, showcasing iconic landmarks such as Marina Bay Sands, Gardens by the Bay, and the historic district of Chinatown. Traveling from Hong Kong to Singapore by flight typically takes around 3.5 to 4 hours. From Manila (Philippines), the flight duration to Singapore is approximately hours 3.5 to 4 hours as well.

Singapore Travel Essentials

Legoland Malaysia Admission Ticket

Universal Studios Singapore Admission Ticket

Singapore 4G Data SIM Card (SG Airport Pickup)

See more : Singapore travel tips

33 Things to do in Singapore + Tourist Spots

Ready to see more of Asia? Japan is one of the best places to go! This captivating country is renowned for its unique blend of traditional culture and modern innovations. It is famous for its iconic cities like Tokyo and Kyoto, breathtaking natural wonders such as Mount Fuji, and delectable Japanese cuisine. The best way to travel to Japan is by air. Flights from Hong Kong to Tokyo typically take 4 to 5 hours. The flight duration from Manila, Philippines to Tokyo is around 5 hours.

Japan Travel Essentials

Tours + discounts

JR Pass for Whole Japan

Tokyo Disneyland or DisneySea Admission Ticket

Tokyo Subway Ticket (24, 48, or 72 Hours)

See more : Japan travel tips

16 Places To Visit in Japan

What places have you added to your bucketlist? Have you been to beautiful places in Hong Kong that should be on this list? Feel free to share your thoughts!

Places to visit in Hong Kong

Hong Kong tourist spots, things to do in Hong Kong, where to go in Hong Kong & more.

Note: Destinations featured above are not listed by rank.

Book your way to Hong Kong

How much does it cost to travel to Hong Kong? Click below to compare flight, ferry & buses fares posted on these booking sites:

Where to Stay in Hong Kong

Tsim Sha Tsui (TST) and Central are the best areas to stay in Hong Kong. TST offers a wider variety when it comes to prices. You can find hostels/guesthouses catering to backpackers and low budget travelers as well as 5-star hotels. Meanwhile, hotels in Central caters to a more upscale crowd.

If you're set on a splurge, choose a hotel near the waterfront for sweeping views of  Hong Kong 's skyline and Victoria Harbour. In this case, stay in Tsim Sha Tsui (TST), which offers a view of the more impressive Central  Hong Kong 's skyline.

The neighborhoods of Jordan, Mong Kok, Sheung Wan and Wan Chai are also great options as these places are located next to Tsim Sha Tsui and Central. If you plan to stay in these areas, remember to choose a location within easy walking distance to an MTR train station.

Where to book

Click below & search recommended Hong Kong hotels/hostels/home rentals within your budget. Remember to set your  min/max price , travel dates, and  sort by review ratings . I often book online with these trusted booking sites below for rock-bottom prices & convenient bookings.

Agoda Booking.com

Book sooner rather than later if you already have your dates set. Cheaper-priced rooms and hotels with high reviews tend to get fully booked faster, especially during busy days like weekends, holidays & peak tourist seasons.

Hong Kong Essentials & Top Discounts

Philippines mobile data sim card/pocket wifi.

Travel with ease & confidence throughout your trip. Get a data SIM card or pocket WIFI device! Access Google Maps and all your favorite travel apps. Share your travel stories instantly with all your friends. Click below and choose your pick-up location:

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November 21, 2016 at 8:13 am

What is the inclusions of d i y budget 4407. All in for disneyland ocean park and transpo and tour guide. Thank u

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November 29, 2016 at 2:31 pm

Hello Fely, you can find more budget and planning tips on this page: https://www.detourista.com/place/hong-kong/ . See the Hong Kong itinerary to get you started.

Business Wire

More than 1,600 trade representatives from Hong Kong, mainland and overseas travel agencies, attractions, hotels, airlines, retailers, restaurants, meeting and exhibition operators, cruise lines, and other travel sectors attended the event. (Photo: Business Wire)

hong kong tourism 2023

HKTB Market Update

Ms. Becky Ip, Deputy Executive Director of the HKTB, outlined at the briefing the HKTB’s market strategies for the Mainland, short-haul and long-haul markets, including converting more visitors into overnight ones, encouraging visitors to stay longer in Hong Kong, ramping up Hong Kong’s international exposure aggressively, and engaging visitors with the city’s new tourism appeal. HKTB representatives from various mainland and overseas offices also joined the breakout session to reconnect with the local travel trade and brought with them the latest insights from their respective markets.

For media inquiries, please contact: Anne Gomm, Senior Manager, PR & Marketing Hong Kong Tourism Board US [email protected]

hong kong tourism 2023

Release Summary

The Hong Kong Tourism Board held its Tourism Overview 2023 with the theme "Striding Forward in a Steady Recovery."

Hong Kong Free Press HKFP

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Hong Kong news – Independent, impartial, non-profit breaking updates

Hong Kong records almost 13 million arrivals in first 6 months of 2023, a fraction of pre-Covid days

Hillary Leung

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Hong Kong recorded almost 13 million visitor arrivals in the first half of 2023. The figure, however, is less than half of what the city saw pre-Covid.

hong kong airport tourism travel

According to a Tourism Board statement published on Friday, Hong Kong saw 12,883,879 arrivals from January to June, with those from mainland China accounting for around 78 per cent of the total.

In June, the city saw 2.75 million arrivals with a daily average of about 92,000 visitors, provisional figures showed.

“The [Tourism Board] expects Hong Kong’s tourism will continue to recover steadily in the second half of the year,” the board said.

Golden week mainland tourists mainlanders tsim sha tsui

The tourism industry was hit hard during Covid-19, as the city enforced strict rules requiring visitors to quarantine in hotels at their own expense and undergo multiple Covid tests upon arrival. The city maintained stringent measures even as countries around the world relaxed their protocols.

The city only lifted its hotel quarantine requirement last September and allowed unvaccinated non-residents to enter in February. Experts have warned that the tourism sector faces a long road to recovery .

The 13 million arrivals over the past six months is only a fraction of pre-Covid figures. In the same half-year period in 2018 and 2019, Hong Kong recorded 30.6 million and 34.9 million arrivals respectively.

The proportion of mainland Chinese arrivals has remained constant across the three years at between 77 and 80 per cent.

In February, authorities unveiled a “Hello Hong Kong” campaign to attract visitors, partnering with local airlines to give away plane tickets to the city. The aviation industry, however, has warned that a shortage of staff – many of whom changed careers during Covid-19 – is stalling the industry’s recovery.

hong kong airport tourism travel

The Tourism Board said it would continue to “deepen” the Hello Hong Kong campaign and hold events such as the Hong Kong Cyclothon and the Hong Kong Wine and Dine Festival, both scheduled for October.

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Hillary Leung

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Hillary Leung is a journalist at Hong Kong Free Press, where she reports on local politics and social issues, and assists with editing. Since joining in late 2021, she has covered the Covid-19 pandemic, political court cases including the 47 democrats national security trial, and challenges faced by minority communities.

Born and raised in Hong Kong, Hillary completed her undergraduate degree in journalism and sociology at the University of Hong Kong. She worked at TIME Magazine in 2019, where she wrote about Asia and overnight US news before turning her focus to the protests that began that summer. At Coconuts Hong Kong, she covered general news and wrote features, including about a Black Lives Matter march that drew controversy amid the local pro-democracy movement and two sisters who were born to a domestic worker and lived undocumented for 30 years in Hong Kong.

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  • Hong Kong welcomes 34mn visitors in 2023; experiences December surge

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The Hong Kong Tourism Board (HKTB) reported provisional whole-year visitor arrivals of 34 million in 2023, with four million visitors in December alone. The Mainland remained the primary visitor source market throughout the year, witnessing satisfactory arrivals during key holiday periods.

Southeast Asian markets showcased swift recovery, with December arrivals from the Philippines and Thailand surpassing pre-pandemic levels at 116% and 106%, respectively. The Meetings, Incentives, Conferencing, and Exhibitions (MICE) segment led the rebound, reaching about 70% of pre-pandemic levels and outpacing leisure travel in recovery.

Overnight visitors constituted half of the total travelers, with an average stay of 3.6 nights, longer than pre-pandemic levels. According to a tourism board survey, overnight visitor satisfaction reached 8.7 out of 10, exceeding pre-pandemic levels.

Dane Cheng, Executive Director of HKTB, highlighted the board’s efforts in reconnecting with global visitors through the “Hello Hong Kong” campaign. The campaign successfully projected Hong Kong’s normalcy and enhanced promotional activities aligned with post-pandemic travel behaviors.

Looking ahead, the HKTB aims to capitalize on global travel trends and consumer demand. Targeted promotions in various source markets, including initiatives focused on High-Speed Rail tourism, will be employed to boost traveler interest. Mega events will continue to be staged to maximize the tourism industry’s contribution to the overall economy, reaffirming Hong Kong’s position as a top international travel destination

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hong kong tourism 2023

ON THE PAGE

Hong kong records 34m visits in 2023 as tourism rebounds.

hong kong tourism 2023

HONG KONG – The Hong Kong Special Administrative Region received approximately 34 million visits in 2023, with nearly 4 million arrivals in December, the Hong Kong Tourism Board said on Saturday.

Through 2023, the Chinese mainland remained the largest source of visitors to Hong Kong, with ideal numbers during the May Day holiday, summer vacation, and the Golden Week in October.

READ MORE:   HK sees over 1m mainland visitors during Golden Week

The Southeast Asian market has shown the fastest recovery, with the number of visitors from the Philippines and Thailand in December surpassing pre-pandemic levels (averaged from 2017 to 2018), reaching a recovery rate of 116 percent and 106 percent, respectively.

Among the visitors to Hong Kong, half of them are overnight tourists, which is a higher proportion compared to pre-pandemic levels

Analyzing by type of travelers, the volume of visitors for conferences, exhibitions and incentive tourism has recovered to around 70 percent of pre-pandemic levels, making it the fastest-recovering segment and surpassing the leisure tourism segment.

Among the visitors to Hong Kong , half of them are overnight tourists, which is a higher proportion compared to pre-pandemic levels. 

On an average, they stay in Hong Kong for 3.6 nights, which is longer than before the pandemic.

According to a survey conducted by the HKTB, the satisfaction rating of overnight tourists is 8.7 out of 10, also surpassing pre-pandemic levels.

ALSO READ :  HK visitor numbers exceed 30m in first 11 months

In 2024, the HKTB will tailor their promotional efforts to different source markets, aiming to significantly increase visitors' willingness to choose Hong Kong as their preferred travel destination, said Dane Cheng, HKTB's executive director.

By organizing grand events, the HKTB seeks to expand the tourism sector's contribution to the economy and drive the steady growth of Hong Kong's tourism industry, Cheng said.

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Hong Kong Dispatch

Hong Kong Wants More Tourists, but Mostly ‘Good Quality’ Ones, Please

The return of budget tour groups from mainland China is sparking frustrations — and a dose of snobbery — in a city starved for business.

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A group of people standing close together hold their phones up to their faces, apparently to take photos and videos of what is in front of them.

By David Pierson and Olivia Wang

David Pierson and Olivia Wang followed budget tour groups from mainland China around Hong Kong to report this article.

One by one the tour buses descended on the blue collar neighborhood in Hong Kong known as To Kwa Wan — literally translated as Potato Bay — unloading throngs of travelers from mainland China outside large restaurants where a quick lunch awaited them inside.

Outfitted in white, red and orange ball caps to denote which tour they belonged to, the visitors crowded the sidewalks, smoked cigarettes under a “No Smoking” sign and bumped into the glass storefront of a real estate office where Nicky Lam, a property agent, was rolling her eyes.

“They’re very loud,” Ms. Lam said, complaining that some of the tourists used her office bathroom and water cooler without asking.

“One tourist came in and asked for restaurant recommendations,” she added. “I stared at him and said, ‘This is a real estate office.’”

The return of budget mainland tour groups in recent months for the first time since China’s borders were closed by the pandemic in early 2020 has revived old tensions in a city transformed by Beijing’s political crackdown.

Before the pandemic, an influx of mainlanders and their wealth into Hong Kong sent prices and rents soaring, fueling frustrations among the city’s residents that sometimes spilled over into outright bigotry . In the nearly three years since Beijing imposed a sweeping national security law over Hong Kong to assert its political dominance, criticism of the mainland has often been muted.

Now, the public response to the budget tourists — arriving on packages that cost as little as $175 for a two-day visit — has been less than welcoming, and at times, downright rude.

Local residents also say the tourists — who tend to travel in groups of two dozen or more — are too noisy, are snarling traffic and are blighting public spaces by squatting and dining on boxed lunches outdoors. One group offended local sensibilities by slurping cup noodles outside a public toilet in Repulse Bay, a beach redoubt of multimillion-dollar homes.

Even some members of Hong Kong’s legislature, which is fully stacked with pro-Beijing lawmakers, have lost patience.

“Can we have some good quality tour groups?” Kitson Yang asked his colleagues during a recent legislative session while holding up printed pictures of the tourists deluging parts of the city.

Before the pandemic and the 2019 pro-democracy protests, mainland visitors powered Hong Kong tourism, comprising nearly 80 percent of all arrivals in 2018. After the city imposed some of the strictest pandemic measures in the world, restaurants, hotels and shops in Hong Kong were starved for business. The arrival of the budget tours coincides with the government’s push to revive tourism in the city of 7.5 million residents. Largely because of a lack of flights, though, high-spending tourists have stayed away,.

Budget mainland tourists don’t face that problem because they travel by bus or boat. But local business owners have complained about their spending habits, which typically amount to a few minor purchases in local pharmacies — akin to visiting New York and coming away with a tube of Neosporin from Walgreens.

“Budget tourists are mainly older people. They don’t spend much,” William Chong, the operator of a pharmacy in Kowloon, said recently after emerging from a six-minute burst of activity in his store — the amount of time tour guides allot each group for shopping in any one store.

In the pharmacy, the visitors swept up ointments and instant coffee, but left high-value goods like ginseng untouched.

On online anti-government forums, the tour groups are providing fodder for ridicule, harking back to the days when some local residents would openly use the slur “locusts ” to refer to mainlanders who traveled to Hong Kong to buy cheaper powdered baby formula, medicine and cosmetics to resell in China.

The taunting works both ways. Mainland users of Douyin, the domestic Chinese version of TikTok, have been making hidden camera-style videos mocking Hong Kongers’ poor command of Mandarin, in the predominantly Cantonese-speaking city. Others have posted videos of instances they felt slighted by restaurant staff for using Mandarin.

Miu Wang, a tour guide, was recently on the second deck of a white-and-pink car ferry in Victoria Harbor that had been converted into a floating restaurant. She watched over dozens of mainlanders tucking into a modest spread that included egg drop soup, stir fried lettuce and a braised chicken and potato dish that was mostly potato.

A 20-year veteran of the business, she said Hong Kongers were snobs.

“I need to take care of dozens of visitors at once, “Ms. Wang said about complaints that the tourists exhibit boorish behavior. “I can’t control each of them.”

The city’s tourism minister, Kevin Yeung, has urged residents to be more accommodating, even while calling for stricter oversight of visitors.

“Tourists will make the street crowded, but it is a signal of economic growth,” Mr. Yeung said in a recent television interview. “Hong Kong people have been known to be welcoming. It is the time to show this spirit again.”

To deal with the increased crowds, traffic police now direct buses in neighborhoods like To Kwa Wan. Crowd control barriers on sidewalks funnel tourists toward restaurants.

“I wanted to travel here the last three years but I couldn’t because of the pandemic,” said Zhang Zhanbin, 43, from Hebei Province in China’s north, who was visiting Hong Kong for the first time on a four-day tour that cost about $400.

Mr. Zhang, a mustachioed rubber factory worker, said he could care less about the complaints because Hong Kong was back in Chinese hands, and not a British colony.

“I’m not too worried about Hong Kong people discriminating against us.” he said. “After all, Hong Kong has been returned.”

Hong Kong was supposed to maintain a high degree of autonomy for 50 years after its return to Chinese rule in 1997. The protests that engulfed the city in 2019 were aimed at preserving those freedoms, and ultimately failed. Signs of the city’s authoritarian turn now dot the urban landscape, from the billboards promoting National Security Education Day to the banners extolling the words of China’s top leader, Xi Jinping.

Those changes have made Hong Kong more attractive to mainland visitors like Guo Xiuli, a 56-year-old retired state worker from the southern city of Chaozhou, who spent a recent morning taking photographs in Golden Bauhinia Square, a popular tourist site near the heart of the financial district.

Ms. Guo, who was not a member of a budget tour group, said she had been treated with more respect compared with her first visit to Hong Kong in 2004, when she felt that speaking Mandarin made her a target of bigotry.

“I used to feel rejection, indifference and impatience, especially when I spoke to waitresses or asked for directions on the streets,” said Ms. Guo, who dressed up for her photos in red velour heels and a face mask fashioned from lace and rhinestones.

“I think it is because the mainland’s economy has developed,” she continued. “Hong Kong is not so special by comparison.”

Zixu Wang contributed reporting.

David Pierson covers Chinese foreign policy and China’s economic and cultural engagement with the world. He has been a journalist for more than two decades. More about David Pierson

Olivia Wang covers news in mainland China and Hong Kong for The New York Times. She joined The Times in 2022. She has a master’s degree in journalism and bachelor’s degree in social sciences from the University of Hong Kong. More about Olivia Wang

The Economic Times

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Hong kong tourism board announces 34 million full-year visitor arrivals in 2023.

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The Hong Kong Tourism Board (HKTB) announced provisional whole-year visitor arrivals of 34 million in 2023, with four million visiting in December. The Mainland remained the largest visitor source market, while Southeast Asian markets recovered quickly. Visitor arrivals from the Philippines and Thailand in December exceeded pre-pandemic levels.

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Hong Kong Inbound Tourism Numbers Soar 70 Times After 2023 Reopening

Hong Kong businesses are hopeful that more inbound arrivals from mainland China and the rest of the world will boost the city’s retail and tourism sectors. Photo: Hong Kong Tourism Board

In January 2023, the number of visitors to Hong Kong jumped nearly 70 times compared with the year before. Arrivals clocked in at 498,689 after the city’s gradual reopening to the world, following nearly three years of stringent zero-COVID lockdowns and entry restrictions.

According to Reuters , the city’s retail sales in January rose from 33.7 billion in 2022 to 36.2 billion in 2023, up 7 percent. Watches, jewelry and other valuable goods saw the greatest increase in sales, rising 23.1 percent, according to the same report. Meanwhile, fashion and footwear sales grew by 14.7 percent in January — rosy signs for a slow but steady recovery on the horizon.

Is Hong Kong’s Budget Enough To Boost The SAR’s Post-COVID-19 Recovery?

In pre-pandemic times, mainland Chinese tourists in Hong Kong accounted for the consumption of many of the aforementioned goods, especially in the jewelry, watches and luxury spaces. The city, which fully reopened its borders with China in early February , has continued to see a growing number of arrivals over recent weeks. Local businesses and retailers are hopeful the return of mainland travelers will boost Hong Kong’s sluggish economy, which has been embattled since the 2019 pro-democracy protests.

In an effort to jumpstart tourism, retail, and investment sectors, the Hong Kong government is launching a 255 million “Hello Hong Kong” tourism campaign, which will also involve giving away half a million air tickets to international visitors. One goal is to raise the city’s retail sales by 22 percent, according to Bloomberg.

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However, the campaign has come under fire by critics for its lackluster messaging, and for being “ frothy, vapid and meaningless, ” according to PR insiders quoted in a report by PRovoke Media.

"What’s lacking is emotional connection to the 'real' HK — the alleys of Central, the eclectic atmosphere of older districts, the beauty of HK’s natural environment, the unknown attractions such as mountain bike trails and running trails, and beaches, and creative use of the two new drawcards of M+ and Palace Museum," another communications expert told PRovoke Media. “So far the emotional connection is missing.”

It remains to be seen how Hong Kong’s ongoing efforts to re-engage and reconnect with the outside world will play out.

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Sri Lanka arrests scores in drug raids, rapped by UN human rights body

Hong kong records 34 mln visits in 2023 as tourism rebounds.

Hong Kong records 34 mln visits in 2023 as tourism rebounds

HONG KONG, Jan. 13 (Xinhua) -- Hong Kong received approximately 34 million visits in 2023, with nearly 4 million arrivals in December, the Hong Kong Tourism Board (HKTB) said Saturday.

Through 2023, the Chinese mainland remains the largest source of visitors to Hong Kong, with ideal numbers during the May Day holiday, summer vacation and the Golden Week in October.

The Southeast Asian market has shown the fastest recovery, with the number of visitors from the Philippines and Thailand in December surpassing pre-pandemic levels (averaged from 2017 to 2018), reaching a recovery rate of 116 percent and 106 percent, respectively.

Analyzing by type of travelers, the volume of visitors for conferences, exhibitions and incentive tourism has recovered to around 70 percent of pre-pandemic levels, making it the fastest-recovering segment and surpassing the leisure tourism segment.

Among the visitors to Hong Kong, half of them are overnight tourists, which is a higher proportion compared to pre-pandemic levels. On average, they stay in Hong Kong for 3.6 nights, which is longer than before the pandemic.

According to a survey conducted by the HKTB, the satisfaction rating of overnight tourists is 8.7 out of 10, also surpassing pre-pandemic levels.

In 2024, the HKTB will tailor their promotional efforts to different source markets, aiming to significantly increase visitors' willingness to choose Hong Kong as their preferred travel destination, said Dane Cheng, HKTB's executive director.

By organizing grand events, the HKTB seeks to expand the tourism sector's contribution to the economy and drive the steady growth of Hong Kong's tourism industry, Cheng said.

Xinhua 13th January 2024, 20:55 GMT+11

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Hong Kong struggles to win back tourists, ‘World City’ crown

Chinese territory welcomed just 500,000 visitors in January, compared to 6.8 million arrivals in 2019.

HK

Hong Kong, China – Early last year, when COVID cases in Hong Kong surged and the government closed schools and speculated about mass testing its residents, David Bruce had seen enough. It was time to leave town.

Hong Kong was in the throes of the pandemic’s “fifth wave” and sending patients who tested positive to a quarantine centre for up to 21 days.

Keep reading

Japan to reopen to mass tourism from october, australia’s battered tourism puts hope in china’s reopening, hong kong leader says ‘no legal basis’ to seize russian megayacht, malaysia’s tourism recovery flops as thailand, indonesia cash in.

“That was the tipping point,” Bruce, 65, a businessman and native of Scotland who has lived in Hong Kong for 35 years, told Al Jazeera.

He was concerned that the city’s strict measures could prevent his 18-year-old son from departing to begin a summer student program in the United States.

“We had to fly him out of Hong Kong as soon as possible,” he said.

Bruce joined his son several weeks later and ultimately stayed away from Hong Kong for nearly three months.

Like Bruce, thousands of other Hong Kong residents left the semi-autonomous Chinese territory during the peak of the pandemic – some temporarily, others permanently – as the government’s tough restrictions took their toll on both expats and locals who were able to relocate overseas.

Last year, the city’s population declined for the third consecutive year – down 0.9 percent to 7.3 million – as tens of thousands of residents moved away permanently. As well as frustration over pandemic measures, many residents were driven to leave by a sweeping national security law that was implemented after pro-democracy protests in 2019 that often turned violent.

HK

Hong Kong officials have openly expressed concern about the brain drain from the city, which for decades has had a reputation as one of Asia’s most cosmopolitan urban centres. Foreign visitors, meanwhile, were mostly barred from entering Hong Kong during the pandemic.

Now, the city long marketed as “Asia’s World City” is making an all-out effort to lure business people and tourists back, after being largely closed off to the world for nearly three years.

In February, the government unveiled a giveaway for half a million airline tickets to bring in visitors. Earlier this month, authorities lifted the last of the pandemic restrictions: mandatory face masks , which had been an obstacle for many potential travellers even though airlines began increasing flights to the city late last year.

The question now: Will they come?

Hong Kong remains a popular tourist spot and pent-up demand could see an influx of visitors. On a recent sunny Saturday afternoon, busloads of tourists from mainland China descended on Hong Kong’s harbour-front parks and cultural districts.

Still, arrivals are a fraction of pre-pandemic levels. Although visitors hit a nearly three-year high of about 500,000 in January, the most recent available figures, the city welcomed some 6.8 million arrivals in January 2019.

The Hong Kong Convention and Exhibition Centre, which traditionally hosts some of the city’s biggest trade shows, has been virtually empty over the past few years.

Now that the city has reopened, the convention centre marked its first full house since the start of the pandemic for a pair of jewellery and gem shows earlier this month. In April, it will have a full lineup when it hosts nine events, including shows focusing on innovation, electronics and fashion.

HK

While some companies are expecting the city to bounce back quickly, others say it could take longer.

Cathay Pacific Airways, the city’s flagship carrier, saw flights trickle to just a handful a week during the height of the pandemic. On one day in March last year, it carried just 58 passengers – a low point for an airline with a once-thriving global network that flew tens of thousands of people a day.

Cathay currently is operating at 50 percent of pre-pandemic passenger flight capacity and forecasts that figure to be 70 percent by the end of this year. It does not expect to be at pre-pandemic levels until the end of 2024.

The airline said this month that part of the challenge is training pilots and cabin crew, many of whom left the airline over the past three years. Getting long-parked jets back into operation also will take time.

British Airways is this month doubling its weekly flights between Hong Kong and London to 14 from seven, while United Airlines resumed its first passenger flight from the city, to San Francisco, since the start of the pandemic.

Three major events kicking off towards the end of this month will be another test of the city’s rebound: Art Basel Hong Kong, the Hong Kong International Film Festival and the Hong Kong Rugby Sevens tournament – all of which traditionally draw thousands of foreign visitors but had to cancel events over the past three years.

“The visual art community in Hong Kong is extremely excited about the upcoming Art Basel show in Hong Kong,” Angelle Siyang-Le, the director of Art Basel Hong Kong, told Al Jazeera. In 2019, Art Basel Hong Kong had a record attendance of 88,000 visitors.

She added that the fair has been working closely with the art sector in welcoming an international audience back to Hong Kong.

HK

Meanwhile, the film festival – one of the oldest in Asia – and its related programmes are expected to draw filmmakers and film-industry executives from across Asia and around the world. It canceled its program in 2020 as COVID began spreading across the globe. And while the festival took place the following two years, primarily for local audiences, it still faced challenges.

Albert Lee, the executive director of HKIFF, said that things won’t be back to normal overnight. “It will take time,” Lee told Al Jazeera, “but there certainly is an appetite for film.”

The Rugby Sevens, which normally takes place in the spring, held its first tournament since the pandemic began this past November when social-distancing and other rules were still in effect. The organisers of the event, known as much for its non-stop parties as for the sport itself, have promised to “rock the city” for the first time in four years.

For Bruce, the businessman, it was Hong Kong’s celebrated service-sector efficiency that brought him back.

After spending a few months in the US, the UK and elsewhere last year, travel-related headaches – including flight cancellations and lost luggage – began to take their toll.

“Everything was breaking down,” he said.

Even the prospect of a seven-day quarantine upon arrival wasn’t enough to deter Bruce from returning.

“I’m going back to Hong Kong, where everything works,” he recalled telling himself.

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Hong Kong estimates visitor arrivals in 2023 to be 34 million

Hong Kong estimates visitor arrivals in 2023 to be 34 million

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hong kong tourism 2023

To attract tourists again, Hong Kong must look to Harbin, China’s ice capital, for lessons. But could we ever offer that city’s warmth?

  • Hong Kong needs new ideas to boost tourism again after underwhelming campaigns like 'Hello Hong Kong' and 'Night Vibes Hong Kong'
  • The recent success story of Harbin - whose warm and welcoming people play a valuable part - offers important pointers for Hong Kong to consider and emulate

Most of my column space in 2023 was dedicated to Hong Kong tourism, specifically assessing the government's efforts to reimagine and renovate the city's tourism industry, from campaigns like "Hello Hong Kong" to "Night Vibes Hong Kong".

It was a significant topic, considering that the city's mask mandate was only lifted in March 2023 - making it one of the world's longest such mandates.

The importance of attracting foreign visitors to Hong Kong and encouraging locals to increasingly engage in the city's nightlife - ultimately making the city more appealing to tourists - cannot be overlooked.

In response to the post-Covid era and the sluggish global economy, the government launched various campaigns to promote the city's diverse attractions, cultural heritage, nature, arts scene and culinary landscape.

Additionally, shopping and entertainment were emphasised to capitalise on the city's top-class malls, premium venues and world-class events like the Hong Kong International Film Festival.

However, the response to these efforts has been lukewarm.

Then there was the globally promoted "Hello Hong Kong" campaign , which distributed half a million free air tickets and offered a wide range of goodies and freebies. But the returns have been modest.

How to fix Hong Kong's baby crisis? Handouts alone cannot solve all problems

I have proposed the use of innovative technologies such as augmented reality (AR) to offer unique and immersive experiences for tourists, such as AR-enhanced walking tours that bring historical landmarks to life through interactive visuals and storytelling.

Additionally, virtual reality (VR) could be used to provide simulations of iconic Hong Kong experiences.

I believe that implementing a combination of these suggestions and fostering continuous innovation could help Hong Kong distinguish itself from its competitors.

Recently, I came across exciting news indicating that China's first "internet celebrity" city - a hot destination popular among internet users - of 2024 has emerged: Harbin, the capital of Heilongjiang province in the country's northeast.

The city is renowned for its annual Harbin Ice and Snow Festival, which takes place for two months from late December to late February.

Every year, visitors from all over the country flock to Harbin to enjoy the mesmerising ice and snow sculptures. As of December 20, 2023, Harbin airport's passenger throughput for the year had already surpassed 20 million, making it the first airport in China's northeast region to reach this milestone.

The winter season has always been a peak tourist period in northeastern China, but after the 2022 Beijing Winter Olympics, domestic ice and snow tourism has experienced an incredible surge.

It is worth noting that Harbin's rise in popularity cannot be solely attributed to influencers or deliberate planning. The popularity of any city is a complex and unpredictable phenomenon. Its potential for popularity, the extent to which it may become popular, and even the duration of its popularity are all subject to various random factors.

Harbin's success story offers valuable lessons for Hong Kong to consider and emulate. However, there are a few fundamental prerequisites to bear in mind.

Foremost is the adoption of a "user mindset" by Hong Kong, which entails understanding the desires and expectations of tourists and offering products and experiences that cater to their preferences, rather than simply providing what we assume they want and hoping for their acceptance and adaptation.

This principle becomes even more crucial in the age of social media and global travel. In today's tourism landscape, people no longer merely seek out popular attractions for the sake of checking them off a list; they closely value the overall experience throughout their journey. By focusing on providing memorable and fulfilling experiences, Hong Kong can enhance its appeal and attract a broader range of travellers.

For instance, Harbin has constructed a large artificial moon, allowing tourists to capture better pictures without relying on portable lighting. The city has also erected small warm houses to provide comfort for tourists from southern China who may feel unaccustomed to the colder climate.

To facilitate the consumption of Harbin's popular frozen pears, the city has even introduced frozen pear platters, making it more convenient for tourists to savour the delicacy.

These meticulous details play a significant role in ensuring that tourists feel warmly embraced, cared for and respected. Consequently, their positive experiences are widely shared on the internet, contributing to Harbin's "internet celebrity" city status.

In today's era of social media, tourists reign as the kings and queens of the internet realm. To win them over, we need to adhere to the norms and expectations prevalent in the realm of social media.

However, it is important to recognise that even after a city becomes popular, it does not imply perfection. In fact, flaws and challenges may become magnified under the intense scrutiny brought about by increased attention. Hence, the government, tourism officials and operators should consistently enhance their services.

It is impossible to satisfy everyone, and every city will invariably possess its own set of shortcomings. The key lies in the attitude and efficiency with which problems are addressed.

Hong Kong cannot solely continue with business as usual in the highly competitive market. To thrive, it must sincerely enhance its services and prioritise the genuine needs of tourists. By doing so, the city can capture the hearts of visitors and establish itself not only as an "internet celebrity" city but also as a long-term popular destination.

Does Hong Kong need expats back? Absolutely - our city is better for it

A recent incident in Harbin serves as a valuable lesson, highlighting the significance of both attention to detail and a heartfelt approach.

With the recent upsurge in tourist arrivals, many travellers encountered difficulties in securing taxis or ride-hailing services. In response, the local residents demonstrated remarkable unity and organised a fleet of about 300 private vehicles, providing complimentary rides to tourists.

This heartwarming account quickly spread, further amplifying the touching aspect of the Harbin story. Despite the city's freezing climate, its residents work diligently to create a warm and welcoming environment for their guests.

Hong Kong would benefit from drawing inspiration from Harbin's example by placing greater emphasis on attention to detail and sharing genuine warmth in embracing foreign visitors.

Luisa Tam is a Post editor who also hosts video tutorials on Cantonese language that are now part of Cathay Pacific's in-flight entertainment programme

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Hong Kong's Temple Street night market bustles with people on December 18, 2023. Photo: Elson LI

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2024 Asia Outlook – A Year of Transition

Author: asia investment strategy team.

Asian economies faced numerous challenges in 2023 – ranging from aggressive U.S. rate hikes to disappointing growth in China. Against a tough economic backdrop and lingering geopolitical risks, financial market performances were mixed amidst subdued capital flows. Local currencies generally weakened versus the dollar, even as many regional central banks shadowed the Fed’s hawkish stance. That said, the region still had some star performers in 2023. Equity markets in South Korea, Taiwan, India, and Japan saw strong double digit gains, supported by secular tailwinds and favorable fund flows.

2023 WAS A STRONG YEAR FOR SOME ASIAN EQUITY MARKETS

2023 price return, %.

hong kong tourism 2023

GLOBAL MANUFACTURING PMI LEVEL REMAINS SLUGGISH

Jpm global manufacturing pmi, 50 = unchanged.

hong kong tourism 2023

MAJOR CENTRAL BANKS IN THE REGION ARE LIKELY TO BEGIN A SYNCHRONIZED EASING CYCLE LED BY THE U.S.

Forecasted change in central bank policy rates*, %.

hong kong tourism 2023

In this environment, emerging Asian currencies may see some additional support as headwinds from elevated energy prices and weak global trade gradually wane. Global financial conditions will likely also ease from highly restrictive levels as major central banks begin moving into a synchronized easing cycle. That said, we may need to wait until the second half of 2024 to see more sustained strength against the dollar, in line with our base case that the Fed could deliver the first rate cut in June.

Within the region, we could see differentiated performance amidst the concurrent forces of trade sensitivity, central bank divergence and geopolitics. Indonesian (IDR) and Thai (THB) currencies will likely remain supported by boosts to their current accounts as a result of robust commodity exports and continued tourism recovery respectively. The Indian Rupee (INR) is also relatively well positioned given its high carry and domestic orientation, as the Indian economy continues to benefit from cyclical and structural tailwinds. Risks around the Singaporean dollar (SGD) appear balanced given that inflation has already peaked in the city-state – and the Monetary Authority of Singapore (MAS) is likely to follow the easing pace of global central banks. In contrast, the Chinese Yuan (CNH) and Taiwanese dollar (TWD) will likely remain as funding currencies on carry disadvantage and geopolitical overhang.

  • What about China’s impact?

China’s lackluster growth is a problem for the Asian powerhouse, but also for closely-linked economies, particularly Hong Kong. In 2024 China will likely try to manage a transition away from real estate and into other sectors. We will be publishing a report to discuss the near and long-term growth outlook in China, the policy choices available and the investment implications. In short, while this transition is challenging, there are some policy options that can help to stabilize growth.

INDIA’S ECONOMY IS LESS EXPOSED TO CHINA’S DEMAND

Trade exposure to u.s. and china as % of gdp.

hong kong tourism 2023

EMERGING ASIA EX-CHINA EXPORT MARKET SHARE

% of global exports.

hong kong tourism 2023

  • Some of our top ideas in Asia

Across the region, we are constructive on the following opportunities:

  • Consider tactical opportunities in semiconductors, expressed through South Korean and Taiwanese equities.
  • Close structural underweights in Japan and access long-term corporate reform opportunities through active managers.
  • Increase long-term allocation to Indian equities to benefit from structural tailwinds.
  • Be selective on Chinese equities through specific sectors.
  • Is the cycle turning for South Korea and Taiwan?

There have been some signs of a nascent pickup in the semiconductor cycle, which bodes well for tactical opportunities in South Korea and Taiwan.

Capex and production cutbacks in the Dynamic Random Access Memory (DRAM) industry have begun to bear fruit, and we are seeing rising contract prices. We expect this to continue in 2024 as end-markets such as mobile phones, PCs and servers could potentially start to recover. In addition, there are fast-growing structural opportunities in high bandwidth memory that could disproportionately benefit Korean DRAM companies. We continue to see meaningful valuation re-rating potential for the equity market that would likely coincide with an earnings upgrade cycle over the next 12-months. South Korea could also be a beneficiary of elevated geopolitical tensions in the region.

For the Taiwan semiconductor universe, activity levels likely bottomed in 3Q23, and we are starting to see leading foundry companies guide slightly ahead of consensus. In addition to benefitting from a cyclical upturn in demand as inventory levels normalize, new secular growth drivers in the form of rapid advancements in Artificial Intelligence are leading to increased demand for high performance computing chips. This will likely benefit leading-edge foundry services in the region. Earnings growth is expected to inflect higher in 4Q23 due to new key product launches and this will likely extend through 2024.

  • Can Japan continue rising?

While inflation was a headache for policymakers across developed markets, Japan was possibly the only economy where inflation was welcomed. Ever since its property market bubble burst in the 1990s, Japan’s policymakers have kept an ultra-easy policy stance in attempts to stoke inflation. While inflation has indeed arrived in this cycle, Japan is still at an early stage of reflating its economy.

DIVERGENCE BETWEEN JAPAN’S NOMINAL AND REAL WAGE, WITH THE LATTER IN NEGATIVE TERRITORY

Indexed 2020 = 100, seasonally adjusted.

hong kong tourism 2023

TOURISM RECOVERY HAS HELPED THE ECONOMY, EVEN WITHOUT CHINESE ARRIVALS

Tourist arrivals, millions.

hong kong tourism 2023

Slower global growth – particularly in developed markets and China – is a headwind this year, particularly for Japan’s important manufacturing sector. But there are also signs of a more virtuous reflationary cycle developing. This is supported by three factors: 1) a structurally tightening labor market; 2) a deliberately dovish policy to sustain positive inflation expectations; and 3) a revival in private sector investment.

Despite slower global growth, Japan could hold on to some of its reflation progress. A key data point to watch is the annual spring wage negotiations. A four to five percent wage gain can tip real wage growth into positive territory this year – in turn helping to support household spending.

WAGE GROWTH HAS REACHED THE HIGHEST LEVELS IN DECADES

Spring wage increase, %.

hong kong tourism 2023

An improving corporate sector outlook and more pro-growth policies may also help sustain the recent boom in private sector investment. After decades of stagnant wages, the Bank of Japan (BOJ) will likely wait patiently to see clear signs of sustainable wage gains before making further policy adjustments. If more reflation progress is made, an exit from negative interest rates is a reasonable next step in 2H 2024. A rate hike is not impossible, but is not a base case in 2024 given that the risks of runaway inflation have already diminished. Overall, policy moves will likely be gradual, keeping real rates in firmly negative territory.

For the Japanese currency, interest rate differentials will be one of the key factors to watch. Changes in the rate gap between U.S. Treasuries and Japanese Government Bonds (JGBs) have driven 80% of the moves in USD-JPY over the past two years, and will likely remain the main factor underpinning the pair as we see more policy shifts from both the Fed and the BOJ in 2024. We think the yen could moderately strengthen this year to 133-137 on 1) increasing clarity that USD rates are past their peak; and 2) expectations of a gradual normalization of BOJ policies and higher JGB yields than current levels. Slow and subtle moves from the BOJ could imply only a gradual grind higher for JGB yields. 

INTEREST RATE DIFFERENTIALS HAVE DRIVEN OVER 80% OF MOVES IN USDJPY OVER THE PAST TWO YEARS

10-year ust-jgb spread (x-axis) vs. usdjpy (y-axis).

hong kong tourism 2023

TOPIX EARNINGS REVISIONS NOT SUPPORTED BY RECENT PMI TRENDS

Earnings revisions vs. global manufacturing pmi.

hong kong tourism 2023

A longer term theme that is increasingly capturing market interest is the progress of corporate reform in Japan. As a result of regulatory reforms and new Tokyo Stock Exchange (TSE) ‘name-and-shame’ initiatives for companies trading below book value, Japanese corporates are increasingly returning more cash to shareholders in the form of increased dividends and share buybacks.

The ultimate objective of the TSE is to encourage active dialogue between Japanese corporates and shareholders in order to improve corporate governance, returns on equity, and valuations. A starting point is for companies to acknowledge what their cost of capital is, and for share price performance to be considered. Other areas of current focus include increased English company disclosure, quality of corporate governance, and the effectiveness of communication with investors. Even for companies trading at high price-to-book ratios, the TSE is requesting that they promote constructive dialogue aimed at improving corporate value over the medium to long term. As companies meet the TSE’s current requests there is an increasing likelihood that the Exchange could initiate other measures to further raise the corporate governance bar in the near future.

We estimate that the addressable market of companies that have reasonable market caps, net cash and/or large cross shareholdings, and low valuations, to be 100 to 150. This provides plentiful opportunities for alpha generation through active managers. In addition, this could further create a virtuous cycle in terms of continuous improvement in corporate governance across the broader market and lead to a moderate re-rating of Japanese equities. While there are near-term macro uncertainties, this trend is creating a potential multi-year idiosyncratic reason for investors to consider Japanese equities, and has increased the probability of our bull case scenario for the TOPIX (2,770-2,840). Clients that are under-allocated Japan can consider closing the underweight.

  • A different take on India

Investors have turned to EM for the promise of stronger economic growth, and these economies have indeed expanded at a faster pace than their developed market counterparts. But there is a twist, which many investors do not fully appreciate: In most EM economies, corporate earnings have failed to keep pace with GDP growth. India is a striking exception. It is one of the few emerging markets where equity investors can benefit from underlying economic growth. Indian company profits, and thus stock returns, have tended to grow in line with nominal GDP. Data over the past 20 years show that India has one of the closest relationships between economic growth and market returns.

FEW EMERGING MARKET EQUITY INDICES ACTUALLY TRACK GDP GROWTH IN THE LONG-TERM

Annualized nominal gdp growth vs local equity index returns since 2000, %.

hong kong tourism 2023

J.P. Morgan Asset Management’s LTCMAs project that India’s economy will likely deliver nominal growth of around 10% annually over the next 10 to 15 years. In our view, this makes India one of the most compelling investment destinations in EM.

India’s growth potential reflects an expanding middle class, digitization and especially favorable demographics. India’s labor supply will likely increase steadily until the 2030s, and because labor supply is strongly linked to output, this gives it a long runway to deliver sustained high rates of economic growth.

INDIA’S LONG-TERM DEMOGRAPHICS STAND OUT POSITIVELY

(lhs) dependency ratio; (rhs) real gdp growth, %.

hong kong tourism 2023

INDIAN EQUITIES EXHIBITED RELATIVELY LOW CORRELATIONS WITH CHINESE EQUITIES COMPARED TO OTHER MAJOR EMERGING MARKETS

Correlation of quarterly returns, sep 2009 – sep 2023.

hong kong tourism 2023

Indian equities are not undervalued. Stocks trade at forward price-to-earnings (P/E) multiples that are higher than their historical averages. But the long-term outlook for India’s economy and equity markets appears better than it has in years, for several reasons:

  • A likely sustained increase in foreign direct investment due to U.S.-China tensions and a redirection of supply chains benefiting India.
  • Companies have steadily reduced debt levels over the past 10 years, leaving room for a new credit cycle to emerge.
  • Structural reforms in the banking sector – a dominant component of the equity market –are designed to improve profitability and reduce risk.
  • India’s business-friendly policies (including lower corporate tax rates) and preferential credit terms to set up manufacturing facilities in the country.

The Indian economy continues to be supported by better than expected economic growth, where real GDP grew 7.6% in 3Q23, and PMI’s that remain firmly in expansionary territory. This is translating into year-on-year earnings growth that is estimated to reach ~15% for the December quarter.

We now turn our focus on the two largest sectors: Financials and Information Technology. Banks continue to be supported by solid loan growth on the retail side, and while there is some net interest margin pressure, asset quality remains benign. Mid to high-teens earnings growth for financials seems achievable. One segment of the market that has been under pressure in 2023 was the IT sector, which  has been dragged lower from weak outsourcing demand from overseas clients. Recently we have started to see demand from clients in geographies such as the U.S. inflect higher, leading to higher than expected orders, and the first guidance upgrade in a number of quarters. Looking forward into 2024 and 2025, we are of the view that earnings can continue to compound at a low to mid-teens level, which underpins our positive view on the equity market in the year ahead.

One potential risk is the general election expected to take place in April or May. We view the recent state elections positively for Mr. Modi’s Bharatiya Janata Party (BJP). The BJP turned two states (Chhattisgarh and Rajasthan) from the main opposition, and kept another (Madhya Pradesh) with clear majorities. The results are much better than the exit polls suggested and bode well for continued economic reform, a pro-business environment, and stability in India.

  • A year of living dangerously

Finally, any assessment of 2024 would naturally involve the specter of geopolitics and its impact on the region’s economy and markets. Although oil prices have remained relatively contained on the back of strong supply, recent conflicts in the Middle East have led to spikes in shipping rates and concerns of a broader escalation engulfing the region, prompting fears that inflation may yet rear its ugly head again. While the ongoing Russian invasion of Ukraine simmers somewhat in the background, any escalation there could also impact broader commodity prices, in turn re-introducing inflation risks for importers such as India and Japan.

CONTAINER SHIPPING RATES HAVE SPIKED ON THE BACK OF MIDDLE EAST TENSIONS

World container index composite freight benchmark rate per 40-foot box.

hong kong tourism 2023

At the national level, more than half the world’s population (including Taiwan, Indonesia, India and South Korea within Asia) will be voting in national elections this year, which introduces yet another source of volatility to regional markets. The U.S. elections also bear close attention for anticipating potential shifts in engagement with Asia broadly, and China in particular. While U.S.-China tensions seem to have stabilized recently, uncertainty on that front will likely pick up over the course of the election year, particularly around trade policy. However, the structural theme of supply chain redirection and ‘friend-shoring’ seems likely to continue to the benefit of some economies in the region, but this will likely be slow-moving.

Taking a diversified approach of tactically hedging against risks and volatility in the near-term, such as through derivatives and gold, while allocating to structural growth themes in the long-term, is our recommended approach in a dynamic and transitional year for Asia and the world.

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All market and economic data as of January 22, 2024 and sourced from Bloomberg Finance L.P. and FactSet unless otherwise stated.

For illustrative purposes only. Estimates, forecasts and comparisons are as of the dates stated in the material.

There can be no assurance that any or all of these professionals will remain with the firm or that past performance or success of any such professional serves as an indicator of the portfolio’s success.

We believe the information contained in this material to be reliable but do not warrant its accuracy or completeness. Opinions, estimates, and investment strategies and views expressed in this document constitute our judgment based on current market conditions and are subject to change without notice.

This document may also have been made available in a different language, at the recipient’s request, and for convenience only. Notwithstanding the provision of a convenience copy, the recipient re-confirms that he/she/they are fully conversant and has full comprehension of the English language. In the event of any inconsistency between such English language original and the translation, including without limitation in relation to the construction, meaning or interpretation thereof, the English language original shall prevail.

This information is provided for informational purposes only. We believe the information contained in this video to be reliable; however we do not represent or warrant its accuracy, reliability or completeness, or accept any liability for any loss or damage arising out of the use of any information in this video. The views expressed herein are those of the speakers and may differ from those of other J.P. Morgan employees, and are subject to change without notice. Nothing in this video is intended to constitute a representation that any product or strategy is suitable for you. Nothing in this document shall be regarded as an offer, solicitation, recommendation or advice (whether financial, accounting, legal, tax or other) given by J.P. Morgan and/or its officers or employees to you. You should consult your independent professional advisors concerning accounting, legal or tax matters. Contact your J.P. Morgan team for additional information and guidance concerning your personal investment goals.

Indices are not investment products and may not be considered for investment.

For illustrative purposes only. This does not reflect the performance of any specific investment scenario and does not take into account various other factors which may impact actual performance.

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hong kong tourism 2023

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hong kong tourism 2023

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hong kong tourism 2023

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hong kong tourism 2023

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hong kong tourism 2023

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Hong kong tourism board, hong kong winter carnival 2023.

hong kong tourism 2023

The highly anticipated Hong Kong Winter Carnival is back at the Central harbourfront with thrilling rides, exciting skill games for all ages, a wide range of irresistible carnival treats and a series of stage performances and circus acts. Make sure to enjoy these unmissable carnival experiences with your family and friends!

Event details

21 December 2023 – 25 February 2024

Various Times Please refer to event website for details.

Central Harbourfront Event Space

Category(-ies)

  • Entertainment

Various Prices Please refer to event website for details.

Please refer to event website for details

www.aiacarnival.com

Great China Entertainment Group Limited

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COMMENTS

  1. Home

    The world's first and largest "Frozen" themed land is now open! Anna and Elsa invite one and all to the kingdom of Arendelle, to experience its majestic landscapes, unique culture, and breathtaking adventures. Enjoy a HK$20 Hong Kong Night Bus Tour!

  2. Travel to Hong Kong Is Back

    Published on June 9, 2023 The new M+ museum, in the West Kowloon Cultural District, as seen from Hong Kong Island. Photo: Virgile Simon Bertrand/Courtesy of Herzog & de Meuron It seemed...

  3. The Guide to Rediscovering Hong Kong in 2023

    The Guide to Rediscovering Hong Kong in 2023 Here's what's new in Hong Kong—from shophouses to island stops and Cantonese fare. SW by Sarah Wei February 23, 2023, 8:52pm Share Tweet...

  4. Opinion

    Hong Kong was the "most trending" destination in 2023 on Trip.com, which also noted the "significant revival" of the city's tourism. The website also revealed its Hong Kong travel trends ...

  5. 5 things to know before traveling to Hong Kong in 2023

    Published February 19, 2023 5:07pm Photo: Hermes Joy Tunac/GMA Integrated News For Filipinos, Hong Kong is one of the top of mind travel destinations in Asia for its numerous tourist attractions, growing recreational activities, and simply vibrant metropolis. advertisement

  6. PDF Hong Kong: Tourism The Facts

    Since Hong Kong's full resumption of normal travel with the Mainland and the rest of the world in early February 2023, the total visitor arrivals surged to about 9.5 million as at end May 2023, as compared to about 0.6 million for the whole year of 2022.

  7. 2023 Hong Kong Tourist Spots + 27 Things To Do in Hong Kong & Hong Kong

    Updated on July 9, 2023. Where to go in Hong Kong and Hong Kong? Achieve your travel goals with this list of beautiful destinations, top things to do, must-see places, tourist spots & more. 5.4k Pin This! Share Tweet Pin on Pinterest See more trips

  8. PDF PRESS RELEASE 新聞稿

    The Hong Kong Tourism Board (HKTB) held the Hong Kong Tourism Overview 2023 in Hong Kong Convention and Exhibition Centre this morning (30 March), returning physically for the first time since the city is back to normal.

  9. Hong Kong Tourism Board Stages Tourism Overview as Destination Returns

    HONG KONG & LOS ANGELES-- ( BUSINESS WIRE )--The Hong Kong Tourism Board (HKTB) held the Hong Kong Tourism Overview 2023 at the Hong Kong Convention and Exhibition Centre this...

  10. Hong Kong records almost 13 million arrivals in first 6 months of 2023

    Hong Kong recorded almost 13 million visitor arrivals in the first half of 2023. The figure, however, is less than half of what the city saw pre-Covid. According to a Tourism Board statement ...

  11. Hong Kong welcomes 34mn visitors in 2023; experiences December surge

    The Hong Kong Tourism Board (HKTB) reported provisional whole-year visitor arrivals of 34 million in 2023, with four million visitors in December alone. The Mainland remained the primary visitor source market throughout the year, witnessing satisfactory arrivals during key holiday periods.

  12. Hong Kong welcomed 34 million visitors in 2023, figure for December

    Hong Kong welcomed 34 million visitors in 2023, figure for December reached 65% of pre-pandemic levels Dane Cheng, executive director of Tourism Board, reveals number of visitors in 2023...

  13. Hong Kong records 34m visits in 2023 as tourism rebounds

    HONG KONG - The Hong Kong Special Administrative Region received approximately 34 million visits in 2023, with nearly 4 million arrivals in December, the Hong Kong Tourism Board said on Saturday.

  14. Hong Kong Wants More Tourists, but Mostly 'Good Quality' Ones, Please

    Published May 9, 2023 Updated Dec. 10, 2023. ... Before the pandemic and the 2019 pro-democracy protests, mainland visitors powered Hong Kong tourism, comprising nearly 80 percent of all arrivals ...

  15. Hong Kong Tourism Board announces 34 million full-year visitor arrivals

    The Hong Kong Tourism Board (HKTB) announced provisional whole-year visitor arrivals of 34 million in 2023, with four million visiting in December. The Mainland remained the largest visitor source market, while Southeast Asian markets recovered quickly. Visitor arrivals from the Philippines and Thailand in December exceeded pre-pandemic levels.

  16. Hong Kong Inbound Tourism Numbers Soar 70 Times After 2023 Reopening

    Crystal TaiSenior Managing Editor. Published March 07, 2023 in News. In January 2023, the number of visitors to Hong Kong jumped nearly 70 times compared with the year before. Arrivals clocked in at 498,689 after the city's gradual reopening to the world, following nearly three years of stringent zero-COVID lockdowns and entry restrictions.

  17. THE 15 BEST Things to Do in Hong Kong

    per adult (price varies by group size) The "Shenzhen"er" The Greatest, The Fastest and The Tallest Day Private Tour. 1. Public Transportation Tours. from. $427. per adult (price varies by group size) Things to Do in Hong Kong, China: See Tripadvisor's 1,206,502 traveler reviews and photos of Hong Kong tourist attractions.

  18. Hong Kong records 34 mln visits in 2023 as tourism rebounds

    13th January 2024, 20:55 GMT+11. HONG KONG, Jan. 13 (Xinhua) -- Hong Kong received approximately 34 million visits in 2023, with nearly 4 million arrivals in December, the Hong Kong Tourism Board (HKTB) said Saturday. Through 2023, the Chinese mainland remains the largest source of visitors to Hong Kong, with ideal numbers during the May Day ...

  19. Hong Kong struggles to win back tourists, 'World City' crown

    By Dean Napolitano 20 Mar 2023 Hong Kong, China - Early last year, when COVID cases in Hong Kong surged and the government closed schools and speculated about mass testing its residents,...

  20. What's new

    What's new In a fast-paced city like Hong Kong, there's always something new happening. From new attractions to upcoming events, there's never a dull day in Hong Kong. Hong Kong Cyclothon The Sun Hung Kai Properties Hong Kong Cyclothon is back on 22 October 2023!

  21. Hong Kong estimates visitor arrivals in 2023 to be 34 million

    MUMBAI: The Hong Kong Tourism Board ( HKTB) on Wednesday announced provisional whole-year visitor arrivals of 34 million in 2023, about four million of whom visited in the month of December alone ...

  22. Home

    Hello Hong Kong! Discover the best experiences, events, shopping, dining, maps, guided tours, and itineraries with Hong Kong's official tourism guide recommendations. Explore Hong Kong's unique international living culture and Asia's top travel destination. ... Installation view of Madame Song: Pioneering Art and Fashion in China , 2023 ...

  23. To attract tourists again, Hong Kong must look to Harbin, China ...

    Most of my column space in 2023 was dedicated to Hong Kong tourism, specifically assessing the government's efforts to reimagine and renovate the city's tourism industry, from campaigns like ...

  24. List of Hong Kong films of 2023

    Opening Title Director Cast Ref. TBA Sons of the Neon Night: Juno Mak: Takeshi Kaneshiro, Sean Lau, Louis Koo, Tony Leung Ka-fai, Gao Yuanyuan, Michelle Wai, Wyman Wong: WE 12: Berry Ho Kwok Man: MIRROR: First film with all members of boy band MIRROR: One Night at School

  25. PDF PRESS RELEASE 新聞稿

    1 Date: 14 July 2023 Total pages: 1 Hong Kong Received About 13 Million Visitors in the First Half of 2023 The Hong Kong Tourism Board (HKTB) announced that the preliminary visitor arrivals for June were 2.75 million, with a daily average of about 92,000 visitors.

  26. 2024 Asia Outlook

    Asian economies faced numerous challenges in 2023 - ranging from aggressive U.S. rate hikes to disappointing growth in China. ... China's lackluster growth is a problem for the Asian powerhouse, but also for closely-linked economies, particularly Hong Kong. In 2024 China will likely try to manage a transition away from real estate and into ...

  27. PolyU School of Hotel and Tourism Management Tops World Ranking

    Hong Kong Poly. 4 min read27 October 2023. Source: Hong Kong Poly. The School of Hotel and Tourism Management (SHTM) of The Hong Kong Polytechnic University has again excelled in the university ...

  28. Hong Kong Winter Carnival 2023

    Events & Festivals. Hong Kong Winter Carnival 2023. The highly anticipated Hong Kong Winter Carnival is back at the Central harbourfront with thrilling rides, exciting skill games for all ages, a wide range of irresistible carnival treats and a series of stage performances and circus acts. Make sure to enjoy these unmissable carnival ...