A Study of Market Evolution in Hong Kong

This empirical study tests the previously unexamined issue of whether the socio-demographic profile and behavior of tourists change over time as markets grow, decline or remain stable. It is understood that markets evolve in much the same way destinations do. Previous work, though, has been limited to studying absolute volumes due to a lack of data. This study uses secondary data provided by the Hong Kong Tourism Board to track demographic, behavioral and satisfaction changes. It determined that the profile and behaviors of stable markets change little over time, with the destination generally attracting the same type of tourist who engages in the same type of activities. However, most markets that entered decline see a substantial narrowing of their market base, while just over half the markets in their growth phase witnessed a broadening of the market base. Practical and theoretical implications for destination management organizations are discussed.