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Visitor arrivals predicted to rise 8.6% to almost 60m
All thanks to changing tourist profiles.
According to Barclays, for 2014, the Hong Kong Tourism Board forecast total visitor arrivals to rise by 8.6% to 58.96mn and Mainland Chinese arrivals should rise by 10.8% to 45.13mn.
Chinese tourists spending should continue to rise but as the arrival profile continues to change, Barclays believes landlords will also have to adjust their tenant mix to cater to the change in spending patterns.
"Compared with high street retail landlords, shopping mall owners are expected to outperform as their traditional focus on occupancy costs and their more diversified retail offerings should allow for a faster transition," Barclays said.
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