- Car rental increased in current value by 1% in 2012, rising to HK$148 million while the number of car rental transactions increased by 2% to 137,000. These slow growth rates were mainly the result of the slowdown recorded in the number of inbound tourists arriving in Hong Kong towards the end of the review period from the peak growth rates recorded in 2010 as the global economy recovered from the worst of the global economic recession.
- Far East Rent A Car Ltd dominated car rental in Hong Kong with a 52% value share. In addition, Far East Rent A Car also recorded the highest increase in value sales in car rental in 2012. Far East rent A Car operates the leading car rental brand Avis, which has many loyal customers in Hong Kong as well as at global level.
- Over the forecast period, car rental in Hong Kong is expected to increase in constant value by 2% over the course of the entire forecast period. With the improvements which are being made to Hong Kong’s public transport system, fewer inbound arrivals are expected to choose to rent private cars when visiting the territory as the convenience of moving around Hong Kong by public transport means that there is simply no need to rent a car. Furthermore, higher numbers of Hong Kong consumers are choosing non-guided tours so as to have more freedom when travelling in Hong Kong. The decline recently recorded in the popularity of guided tours in Hong Kong is expected to have a negative impact on demand for car rental in Hong Kong over the forecast period as many Hong Kong consumers are expected to opt for public transportation.
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Discover the latest market trends and uncover sources of future market growth for the Car Rental industry in Hong Kong, China with research from Euromonitor's team of in-country analysts.
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The Car Rental in Hong Kong, China market research report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation
- Historic volumes and values, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent market research methodology, conducted in-country
Our market research reports answer questions such as:
- What is the market size of Car Rental in Hong Kong, China?
- What are the major brands in Hong Kong, China?
- Is there a shift from airport car rental to non-airport?
- Is leisure car rental outpacing business car rental?
- Is insurance replacement recession-resistant?
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Table of Contents
Car Rental in Hong Kong, China - Category Analysis
- Table 1 Car Rental Sales by Category and Location: Value 2007-2012
- Table 2 Car Rental Sales by Channel: Value 2007-2012
- Table 3 Structure of Car Rental Market 2007-2012
- Table 4 Car Rental National Brand Owner Market Shares 2008-2012
- Table 5 Car Rental Brands by Key Performance Indicators 2012
- Table 6 Forecast Car Rental Sales by Category and Location: Value 2012-2017
- Table 7 Forecast Car Rental Sales by Channel: Value 2012-2017
Travel and Tourism in Hong Kong, China - Industry Context
Hong Kong government organises innovative activities and improves tourist attractions to drive growth in travel and tourism
Government visa control policy is simplifies to boost the number of inbound arrivals
Online channels become more popular among consumers purchasing travel and tourism products and services
Low cost carriers push price competition in air transportation, to the benefit of outbound and inbound tourists
Rising hotel room rates pose a threat to growth in inbound tourism, especially business arrivals
KEY TRENDS AND DEVELOPMENTS
Hong Kong government organises innovative activities and improves tourist attractions to drive inbound tourism
The government simplifies its visa control policy in order to boost the number of inbound arrivals
Online channels are increasingly more common for consumer to buy travel and tourism products and services
Low cost carriers leads to price competition which benefit outbound and inbound tourists
Hotel room rate inflation poses a threat to tourism generally, especially inbound business travel
Overcrowding leads citizens to protest against further expansion of the Individual Visit Scheme for visitors from mainland China
- Summary 1 Hong Kong, China: SWOT
- Table 8 Leave Entitlement: Volume 2007-2012
- Table 9 Holiday Takers by Age: % Breakdown 2007-2012
- Table 10 Seasonality of Trips 2007-2012
BALANCE OF PAYMENTS
- Table 11 Balance of Tourism Payments: Value 2007-2012
- Summary 2 Research Sources