2023 is the year that travel in Hong Kong is set to start to see significant recovery from the pandemic. The Hong Kong government gradually released COVID-19-related restrictions from the last quarter of 2022, and started to welcome visitors from around the world.
Airlines is set to see a recovery to over 85% of the pre-COVID level of retail value sales in 2023, with full recovery expected by 2024. However, in 2023, the number of passengers is only set to return to 75% of the pre-pandemic level, and capacity issues due to labour shortage is the major factor preventing stronger recovery.
Hotels is set to see continued recovery in 2023, benefiting from the significant growth of tourism inflows after the border reopening, especially the return of tourists from the Chinese mainland. However, hotels has shown uneven recovery, with faster recovery for luxury hotels and upscale hotels, and slower recovery for mid-market and in particular budget and unrated hotels.
The border reopening in Hong Kong and the resumption of travel are set to increase the pace of recovery for booking for both leisure and business purposes in 2023, with a recovery to about 80% of the pre-pandemic level. The pandemic has accelerated the development of online booking, and a significant proportion of bookings are expected to be made through online channels in 2023.
Travel in Hong Kong is expected to continue its steady recovery in the forecast period, although different categories will have their own recovery trajectory. With the ongoing active hiring of manpower, the capacity constraints for both airlines and lodging are expected to ease as time goes by, benefiting overall tourism flows in the travel industry.
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Travel
Travel encompasses several categories including tourism flows, lodging, travel modes, in-destination spending and booking.
See All of Our DefinitionsThis report originates from Passport, our Travel research and analysis database.
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