Hong Kong’s Ngong Ping 360 reports record revenue driven by overseas visitors

Hong Kong cable car attraction Ngong Ping 360 reported record revenue last year at HK$413 million (US$53 million), bolstered by significant growth from long- and short-haul tourists from outside mainland China.

The cable car operator said on Tuesday that revenue earned by the attraction last year was up 30 per cent from 2023 and about 32 per cent higher than pre-pandemic levels in 2019.

“The most important thing was our major overseas visitors ... Flight capacity definitely affects Hong Kong’s competitiveness as a city, and we are very pleased to see that many flights, especially after October in the fourth quarter, have recovered very well,” said James Tung Pui-chuen, managing director of Ngong Ping 360.

The daily average number of visitors from the mainland grew 6 per cent, while it was up 34 per cent for the short-haul visitor market. The number of long-haul tourists also grew 84 per cent year on year.

Both figures represented growth of nearly 10 per cent compared with pre-pandemic levels, Tung said.

In 2023, the attraction reported strong visitor numbers from Asia, especially from Singapore, Thailand and Malaysia, although the number of European and American visitors was only about half of 2019 levels.