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The following is a speech by the Secretary for Commerce and Economic Development, Mr Frederick Ma, at the grand opening of Marriott Vacation Club International Hong Kong Sales Gallery today (October 29):
Ladies and Gentlemen,
It's my great pleasure to be here today to celebrate with the Marriott Vacation Club International the launch of its new sales gallery.
I firmly believe there is no better advertisement for Hong Kong than companies, such as MVCI, who conduct detailed regional due diligence-and then put their financial investment and corporate reputation into our city.
Hong Kong has a well-earned reputation as a tourist destination - but this investment says something more. In particular, it is a strong endorsement of Hong Kong position as Asia's leading centre for tourism services.
Hong Kong Advantages
The 2007 World Economic Forum report on travel and tourism makes this point very clearly. It ranks Hong Kong as the top city in Asia and sixth in the world for travel and tourism companies. The report cites our pro-business regulatory environment, our air and land transport infrastructure, the safety of our city, and a highly educated workforce with a long track record of service excellence.
In addition, Hong Kong combines an affluent and travel-experienced domestic market, with easy access to a massive regional market. Hong Kong's local population is among the world's best travelled, with nearly six of our seven million strong population taking to the air last year.
Add to this an additional 25 million business and leisure visitors last year. And our regional market is many many times larger. Currently, half of the world's populations lies within a five-hour flight radius of Hong Kong.
For much of this regional market, the idea of timeshare holidays is still a novel concept. But with Asia home to an increasingly youthful and affluent generation, the Marriott Vacation Club International has the foresight to see the massive potential in reaching out to this new customer base via Hong Kong's brand-building platform.
In particular, Hong Kong plays a vital role in helping companies expand successfully into Mainland China. It is a popular and tested business model, which allows companies to explore the China potential from the security of a mature, transparent and well-regulated international business city.
China's growing prosperity and increasing market openness is great news for Hong Kong-and good news for the MVCI. Because, simply put, if you have something to sell, what you want are rich neighbours!
Wrap Up
Ladies and Gentlemen, we warmly welcome the Marriott Vacation Club's decision to locate their new sales gallery in Hong Kong. This global brand joins a large community of international companies that together enjoy Hong Kong's pro-business environment, strategic regional location and global reputation for service excellence.
Congratulations again, Mr Harold Derrah, on this exciting development for your company. On behalf of the Hong Kong Government, we wish you and your team every success in the coming years.
Thank you.
Ends/Monday, October 29, 2007
Issued at HKT 18:46
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