Tourism Industry And Its Impact On Lottery In Hong Kong
In this article, you will know about the tourism industry and how it impacts the lottery culture in Hong Kong.
One of the biggest sources of revenue of Hong Kong comes from the tourism industry. The tourism industry also affects the lottery business. Many tourists visit Hong Kong to play gambling and lotteries. The games related to gambling are trendy among the masses all over the world. The attraction of the lotteries is undeniable. Nowadays, the lottery business is just not limited to the shops or casinos on the streets. Instead of that, one can now play lotteries online from the comfort of their home with electronic devices like – mobile phones, tablets, and computers. One of the best online lottery websites is togel HongKong.
Tours to the Casino Areas
Almost 75% of tourists who come to Hong Kong every year arrange the tour with tours and travel companies. When these companies plan the tours, they set a tour to the casinos of Hong Kong. Most of the tourists cannot resist trying their luck once they get into a casino. In this way, the casinos’ footfalls increase, and the lottery industry’s income rises automatically.
As mentioned earlier that online lotteries have become extremely popular nowadays. Earlier one needs to go to a shop to book a ticket but now with the help of online lotteries tickets can be booked without going anywhere. The tourists who come to Hong Kong are encouraged to play lotteries with various types of promotions. In online lotteries, the agents purchase the ticket of your choice. The online lotteries’ results are directly mailed to the email address that the person has given while registering himself for entering the website.
Tourists coming from developed countries have money in a currency that ranks higher than Hong Kong’s currency. In some of the lotteries, a tourist need not put a lot of money into the gambling process. It encourages many tourists to play lotteries both offline and online methods.
Impact of Global Pandemic
In the year 2019, the world encountered Covid-19, which lead to a global pandemic situation. Like all other industries, the tourism industry has also been affected by this. People feared to travel, and also almost every casino was closed during the period. Now slowly, everything is coming back to track. It is expected that the lottery business will increase again as the tourists start coming to Hong Kong again.
The global lottery market is expected to grow at a CAGR of 4.5% between 2019 and 2024. The worldwide lottery industry’s total revenue will likely reach 393900 million USD, which is currently valued at 302300 million USD. The Asia Pacific region holds the largest share in the lottery industry all over the world. It is due to the number of active casinos and gambling sites in this region of the world. Hong Kong holds the 2nd spot in the Asia Pacific region in terms of the lottery business, just after China.