China-Japan tensions a boon to Hong Kong tourism for ‘golden week’, expert says
Lawmaker and Miramar Group chief says hotel rates have jumped by as much as 8 per cent as tourists originally bound for East Asia choose city
The appreciating yuan and ongoing Sino-Japanese tensions have given Hong Kong tourism a boost ahead of mainland China’s Labour Day “golden week” holiday, with hotel prices rising by as much as 8 per cent, an industry representative has said.
Lawmaker Alan Chan Chung-yee, who is also the chief operating officer of Miramar Group, expressed optimism on Monday that the city would welcome more mainland tourists originally heading to other parts of East Asia during the country’s coming long holiday, which runs from May 1 to 5.
“There are tourists initially going to East Asia, but as China-Japan relations become more tense, they have turned to Hong Kong [as a holiday destination],” he said on a radio programme.
He added that hotel prices in Tsim Sha Tsui and Causeway Bay had increased by 8 per cent and 5 per cent, respectively, compared with last year.
Chan said that with the appreciation of the renminbi, mainland tourists might be less sensitive to higher room rates.
The yuan has appreciated by about 1.42 per cent against the Hong Kong dollar over the past month, rising from 1.1321 on March 27 to 1.1482 on Monday.