As most of Hong Kong's neighbors are also vying for a share of cruise tourism revenue, intense rivalries are expected.

Singapore, a formidable rival, will maintain its stranglehold on the north Asia cruise market. The Lion Republic has invested more than a half-billion dollars in a new cruise terminal - the Marina Bay Cruise Centre, which opened on Oct 22, 2012. Extensive renovations also have been made to the established, cruise facility, the Singapore Cruise Center.

On the mainland, Hong Kong faces strong competition from Shanghai which has three cruise terminals: Shanghai Wusongkou International Cruise Port, Shanghai Waigaoqiao Port Cruise Terminal and the Shanghai Wusongkou Cruise Ship Terminal.

Shanghai International Port Group Co (SIPG), operator of the world's busiest container port, plans to start a cruise line to limit reliance or sever its reliance altogether on overseas operators and assure traffic at its passenger terminal.

Last July, China announced it had begun construction of the Southeast China International Shipping Center, which includes 10 projects led by the construction of a 100,000-ton luxury cruise liner, a cruise terminal and a shipping business center in Xiamen. The combined investment tops 16.73 billion yuan ($2.63 billion).

The luxury cruise liner's design and construction alone are estimated to cost 3.1 billion yuan. But it will take at least 47 months to complete. That cruise liner is expected to be operating at full capacity by 2018 and will be able to carry more than 2,000 passengers per trip.

Several cities, including Tianjin and Qingdao, have been similarly equipped with international homeports to attract major cruise liners to set up shop for the long term.

The China Cruise & Yacht Industry Association says there were 285 international cruise ship arrivals on the mainland last year, up 8.8 percent from 2011. Passenger arrivals and departures via cruise ships jumped 31.9 percent to 660,000 last year, of which 240,000 were international visitors.

With such a huge cruise market in the region, Yung believes Hong Kong, with the support of the central government, and its own capabilities and advantages, will be able to grab its fair share of the fast-growing cruise market.

(HK Edition 08/30/2013 page8)