UPDATE on HONG KONG OUTBOUND MARKET in 2023
(Published on 14-Feb-2024)
ITE Hong Kong 2024 - 38th ITE (Leisure) & the 19th ITE MICE will be held from June 13 to 16 in 5 hallsof Hong Kong Convention & Exhibition Centre (HKCEC) with 2 trade days and 2 public days, while ITE
2023 used 4 halls. Strongly supported by the Ministry of Culture & Tourism of China, it has also Hong
Kong Tourism Board and Macao Government Tourism Office etc. as Supporters.

OVERVIEW
Below analysis based mainly on 2023 data. Has Hong Kong outbound market been recovering and how
well it recovered? Is its recovery sustainable? How big (by departure and/or by spending) is its outboundmarket, pre-pandemic and during recovery? Does Hong Kong remain a quality source market? And more!
TKS, the organizer of the annual ITE Hong Kong which a leading outbound travel fair in Asia, compile
related statistics from various sources try shedding some light on the above questions. While care beentaken in their preparation, any usage at one’s own risk. For more info on ITE and market including ourdaily market news, please visit www.itehk.com or email to travel@tkshk.com.
(1) Hong Kong Outbound Recovery Strong & Sustainable
In 2023, departure in December 5.3 times that of January; and total for whole year already back to76.8% of the pre-pandemic 2019!
Table1: Hong Kong Resident Departure (million) by month in 2023
MONTH
# departures

MONTH# departures

JAN
1.66
JUL
6.81

FEB
3.61
AUG
7.16

MAR
5.33
SEP
6.31

APR
6.36
OCT
6.96

MAY
5.74
NOV
7.45

JUN
6.03
DEC
8.79

1ST half total

2023 Total

72.2

28.7
2nd half total

43.5

Newsa.

In 2023, Hong Kong visitors to Japan reached 92.3% of pre-pandemic levels or totalled 2.11 million and spent479.6 billion yen, ranked Japan’s 4th largest source market.

b.

Around 267,000 travelers from Hong Kong visited Singapore in the first 10 months of 2023, which around twothird of same period in 2019.

c.

Held between Oct 19 and Nov 5, a public survey collected 4874 replies found 72% respondents to travel abroadin coming six months. Thus, reflecting Hong Kong outbound sustainable.

(2)

Hong Kong a Quality Market
In Jan 2024, media reported China has 2.11 million families with net worth at least RMB 10 million. Hong Kong isamong the top five and come first by number of rich families per million people.
Table2: China Top Five by no of Wealthy Families from Hurun Report
No of Wealthy
Population (ML)
Province / CityFamilies
Guangdong
307,000
126.6
Beijing
306,000
21.8
Shanghai
271,000
24.8
Jiangsu
216,000
65.8
Hong Kong
215,000
7.49^# Rich Fam per ML
pop2425 (5)14037 (2)10927 (3)3383 (4)20705 (1)Disclaimer: Prepared by TKS Exhibition Services Ltd (organizer of ITE Hong Kong) by compiling data from official websites of tourism
authorities and trade / public publication. Browsing or using this report or any market data from our website www.itehk.com is solely at your own
risk. We are not responsible for any loss or damage thus caused.

News:
a. A 2023 Asia Pacific Survey on skiing holiday found Hong Kong rank top among Asia Pacific travelers by
average daily spending of EUR 558 per person; and their top three skiing destinations respectively Japan at39%, Switzerland at 30% and Canada at 27%.
b. A survey which interviewed 1060 Hong Kong citizens aged 18 or above by phone between Dec 4 and 14 foundfor 2023 Christmas: 21% respondents will take overseas holidays; 36% keep spending level; and 21% to spendmore.
(3) Hong Kong a Large Outbound Market
In 2019, Hong Kong spent US$26.9 billion on outbound travel, ranked world’s 12th and Asia’s 3rdlargest market; but ranked top by per capita outbound spending
Table 3: World’s / Asia’s Top Markets by Outbound Spending in 2019^
World Rank
1st China (Mainland)
9th South Korea
12th Hong Kong (China)

Int’l Tourism Expenditure
US$ Billion
254.6
32.3
26.9

Asia Rank
1st2nd3rdPopulation(Million)
1421.851.8
7.5

Expenditure per capita
US$179.1
623.6
3,586.7

Ratio
13.5 times
20 times(4) Profile of Hong Kong Premium FIT
For findings of the annual survey of ITE public visitors in 2023, which collected over 2000 replies.
Briefly, they are highly educated (46% university & another 24% post-secondary), and 68% to spend
more on travel in coming 12 months, click HERE or visit www.itehk.com^Disclaimer: Prepared by TKS Exhibition Services Ltd (organizer of ITE Hong Kong) by compiling data from official websites of tourism
authorities and trade / public publication. Browsing or using this report or any market data from our website www.itehk.com is solely at your own
risk. We are not responsible for any loss or damage thus caused.