Tourism Index

A predictive index of tourism demand derived from social big data and powered by the latest natural language processing technologies and advanced statistical models.

Hong Kong SAR

The Hong Kong Tourism Index is a predictive tool for the tourism industry that utilizes advanced technology and analysis techniques. It incorporates over 20 travel-related influencing factors, statistical models, and sentiment analysis on social media. The index employs Wisers AI's big data platform and Chinese Natural Language Processing technology, as well as statistical modelling capabilities from Wisers and HKUST. The index may provide valuable insights to researchers, industry participants, and policymakers by predicting future travel-related figures and trends in Hong Kong.

Composite Index

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Component Indexes

Visitor Arrivals

Hotel Occupancy

Hotel Avg. Daily Rate

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The Composite Index consists of 3 component indexes, namely Visitor Arrivals (from the Mainland), Hotel Occupancy, and Hotel Average Daily Rate, with weights of 0.5, 0.25, and 0.25 respectively. This creates an overall assessment of the tourism interest in Hong Kong. The base period of the index is 2018, that is, the index for the average of 2018 is set at 100.

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Who is this Tourism Index for?

The Hong Kong Tourism Index is a resource for governments and organizations involved in the tourism industry sector, including those investing in, operating, or partnering with companies in this sector. The index can be leveraged to support a multitude of use cases, such as industrial research, business planning, brand management, competitive intelligence, risk management, prospecting, and investing. Its versatility and comprehensiveness make it a tool for informed decision-making and strategic planning in the dynamic and ever-evolving tourism industry.

>20

The number of travel-related influencing factors built into a complete theoretical framework

>10 million

The average daily data volume collected from various media sources, such as online travel agencies, travel forums, and social media platforms frequently used by Chinese travelers

as high as 96%

The accuracy of the final prediction results

Drawn on the Latest Artificial Intelligence Technologies including Natural Language Processing and Statistical Machine Learning

Our Methodology

In recent years, social media has emerged as a critical resource for analyzing target demographics and identifying trends across a range of industries. Despite its utility, the sheer volume and wide-ranging nature of social media data can present significant obstacles to effective data analysis.

The Hong Kong Tourism Index is created through a multi-step approach that leverages advanced Natural Language Processing (NLP) techniques. By analyzing social media posts related to Hong Kong tourism, the algorithm automatically identifies the travel-related influencing factors and assigns appropriate tags. The tagged data are then used to create a time series, which is combined with exogenous data to establish a multiple linear regression prediction model. The model utilizes historical data on visitor arrivals, hotel room rates, and hotel occupancy to accurately forecast future trends. The resulting predictive index is powered by big data and is capable of achieving a mean absolute percentage error as low as 4%.

Descriptive flow diagram of our NLP methodology

Disclaimer

Wisers-HKUST Tourism Index (the “Index”) is a project jointly developed by Wisers AI of Wisers Information Limited and the Center for Business and Social Analytics (“CBSA”) of HKUST Business School. Discrepancies between the information presented in the Index and other applications, analyses, studies, articles, and publications may exist due to the different methodologies of processing the material in accordance with different purposes.

All information contained herein (the “Content”) is provided for reference only. Wisers AI and CBSA strive for the accuracy of the Content to the best of their endeavours. However, no warranty nor representation shall be made as to the accuracy, completeness or reliability of any of the Content and accepts no liability (whether in tort or contract or otherwise) whatsoever to any party for any damage or loss of any nature arising from or as a result of reliance on any of the Content, or any errors or omissions in the Content.

The Content is not intended to provide professional advice and should not be relied upon in that regard. Persons intending to use any Content are advised to obtain appropriate professional advice.

Wisers AI and CBSA shall have no obligation to maintain or continue to publish any part of the Content or to supply any corrections, updates, or releases in connection therewith. At any time and without prior notice, Wisers AI and CBSA may change or delete the Content, or any information, data, services, features of these pages, refer you to other sites on the world wide web and/ or change the internet address of any of the pages of this site.

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