The Greater China Update – 2nd Quarter 2014
By PuReaNae Jang and Daniel J Voellm
Mixed signals from markets across Greater China, as long-haul markets continue to struggle. While regional travel is strengthening, hotel markets have yet to see an upside. China's international visitor arrivals continued to decline, falling 5.9% YOY to 30.2 million visitors in 1Q 2014. The Hong Kong and Macau markets contracted by 7.9% and 2.5% YOY, respectively; Hong Kong and Macau together accounted for 76.7% of total visitor arrivals.
Mixed signals from markets across Greater China, as long-haul markets continue to struggle. While regional travel is strengthening, hotel markets have yet to see an upside. China's international visitor arrivals continued to decline, falling 5.9% YOY to 30.2 million visitors in 1Q 2014. The Hong Kong and Macau markets contracted by 7.9% and 2.5% YOY, respectively; Hong Kong and Macau together accounted for 76.7% of total visitor arrivals. All top five markets (excluding Hong Kong and Macau) also continued to slow: Japanese visitor arrivals further declined by 8.4%, while Taiwan, the USA and South Korea respectively recorded YOY declines of 2.5%, 2.0%, and 1.0%. All Southeast Asian markets, including Thailand, Indonesia and Malaysia, declined by single-digit percentages as well.
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