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Inbound (HK$79,100 million) and outbound (HK$15,400 million) tourism accounts for 4.7% of Hong Kong's GDP (2011: 4.5%). (Source - http://www.statistics.gov.hk/pub/B71404FB2014XXXXB0100.pdf). The above inbound tourism figure does not include tourists' spending in retail shops, restaurants, etc. |
That HK inbound tourism is a vital part of the territory's economy is evident in the following extract of Wall Street Journal report -
"Hong Kong GDP out today is likely to have grown above 3% on year and more than 0.2% on a seasonally-adjusted basis from the previous quarter, according to a person familiar with the matter. (The data is out officially at 4.30 pm local time.)
The number was helped by solid domestic demand, which contributes over two-thirds of Hong Kong’s GDP, the person said.
The Chinese territory of 7 million people has benefited from a wave of spending from mainland Chinese who come to Hong Kong on vacation and to shop.
About a third of all retail spending, a major contributor to local demand, comes from visitors. Last year, mainland Chinese made HK$119 billion (US$15.2 billion) of retail purchases, up from HK$43 billion in 2008, according to data from the census department. In 2012, local residents spent HK$287 billion, the data showed." http://blogs.wsj.com/economics/2013/08/16/mainlanders-buoy-hong-kong-gdp/