Chinese golden holiday brings a boost to Hong Kong's economy
Hong Kong - China's National Day holiday brought a boost to Hong Kong's economic recovery with Disneyland and the city's flagship airline Cathay Pacific said Tuesday, both reporting an increase in business.
Disneyland attendance figures were between 7 and 9 per cent higher than last year over the first few days of the week-long holiday which started October 1, with hundreds of thousands of Chinese crossing the border to celebrate in Hong Kong.
Occupancy rate at the theme park's two hotels was 90 per cent.
Cathay Pacific Airways also reported a good week with revenues and passenger yield for the week ending October 3 at their highest so far this year.
Passenger load reached 83 per cent and on one unspecified day, the airline carried 4,941 premium-class passengers - the highest single-day number for the year.
"We had the best week so far this year," Cathay Pacific chief executive Tony Tyler said in a weekly message to staff.
However, Tyler warned that overall revenue was still low and that it was too early to say whether the industry had recovered.
The tourism industry has been hit hard by the global economic crisis with Cathay Pacific recording its highest-ever annual loss of 1.1 billion US dollars in March this year.
Tourism Board figures show the number of people visiting the city in the first eight months of 2009 to be down 3.4 per cent compared to the same period in 2008 when a record 30 million people came to Hong Kong. (dpa)