How competitive is Hong Kong against its competitors? An econometric study

This study utilizes almost ideal demand system (AIDS) models to examine Hong Kong's competitiveness as an international tourist destination in comparison with its competitors. The empirical findings of the study shed new light on the destination competitiveness literature and demonstrate that a destination's competitiveness should be examined from a market-specific perspective. The results also suggest that Hong Kong is more competitive than Macau, particularly in terms of its ability to attract Australian and mainland Chinese tourists, while price elasticity calculations suggest Singapore and South Korea are more competitive than Hong Kong

Measuring returns on Hong Kong's tourism marketing expenditure

The objective of this study is to estimate the per dollar return on tourism marketing expenditure by the Hong Kong Tourism Board in major tourism markets, based on the dynamic modelling approach and cost-effectiveness ratios. The study finds that the estimated cost-effectiveness ratios for the major inbound tourism markets of Australia, China, the USA, the UK, South Korea and Singapore are positive, and that the estimated per dollar returns on tourism marketing expenditure are 9.5:1, 15:1, 2.5:1, 2.8:1, 7.2:1 and 8.7:1, respectively. The results suggest that in order to increase the tourist receipts from these markets, it is necessary to develop different and specific marketing strategies to attract tourists from each market