282
TRAVEL AND TOURISM
In 1992, there was no travel agent failure. The reserve fund increased by $30,723,112 in 1992 and had a balance of $118,248,957 at the end of the year. The fund has paid out $12,709,093 in compensation since its inception.
Tourism
Tourism is one of Hong Kong's largest service industries and the territory's third largest earner of foreign exchange. Recovering from the effects of the Gulf War a new record number of visitors, some 7.0 million, came to Hong Kong in 1992, an increase of 15.5 per cent over the previous year. Tourism earnings registered an increase of 20.0 per cent in 1992, reaching a total of $47.5 billion.
Hong Kong remained Asia's most popular travel destination. The biggest growth in visitors in recent years has been from the neighbouring countries in the Asian region, notably Taiwan and Japan, which accounted for 23.4 per cent and 19.0 per cent respectively in 1992, as well as South-East Asia (17.4 per cent) and South Korea (2.8 per cent). Visitors from Western Europe, the United States/Canada and Australia/New Zealand accounted for 13.6 per cent, 12.5 per cent and 4.4 per cent respectively.
To cater for the accommodation needs of the continuing growth of visitors to Hong Kong, six new hotels opened in 1992, bringing the total number of rooms available in Hong Kong to 33 400.
Hong Kong Tourist Association
The HKTA was established by the Hong Kong Government in 1957 to develop the territory's tourism industry for the benefit of Hong Kong. The association works to increase the number of visitors to Hong Kong; promotes the improvement of visitor facilities; secures overseas publicity for the territory's attractions; co-ordinates the activities of the tourism industry; and advises the government on matters relating to the industry.
The chairman and members of the Board of Management of the HKTA are appointed by the Governor. The association receives an annual subvention from the government to assist it in carrying out its work. It also derives funds from membership dues, the sale of publications and souvenirs, and from its own commercial tours.
At the end of December 1992, the association had 1778 members, comprising air- lines, hotels, travel agents, tour operators and retail, restaurant and other visitor service establishments.
The HKTA maintains two information and gift centres: at the basement of Jardine House and at the Kowloon Star Ferry concourse. In addition, it operates two information counters at Hong Kong International Airport at Kai Tak. Together, these centres assisted 2.2 million visitors in 1992.
The association also operates a general information telephone service in nine languages for visitors in Hong Kong and a special shopping information service. Together, these lines handled enquiries from 59 000 visitors in 1992.
During the year, a new 'Infofax' service was introduced, expanding further HKTA's information service worldwide. The service gave members of the local and overseas travel trade and consumers access to information on sightseeing, shipping, dining, special interest activities and a calendar of events. The association also distributed some 9.5 million pieces of literature in 12 languages to visitors on arrival.