Photo shows (3rd right) InvestHK's John Rutherford with(4th right) Gianni Onorato, President of Costa Crociere S.p.A and other dignitaries at the launch ceremony

Costa Crociere S.p.A., one of the world's leading cruise companies, has made a strong commitment to Hong Kong as a strategic market for its long term development in Asia by setting up its regional headquarters here.

Costa also celebrated the docking of its contemporary cruise liner, Costa Allegra, for the first time in Hong Kong.

The company is an Italian subsidiary of Carnival Corporation & plc, the world's largest cruise operator.

The President of Costa Crociere, Gianni Onorato, said that the company is very excited about its expansion into the Asian cruise market - a key growth region.

"According to a recent report published by the London-based independent economic consultancy, Ocean Shipping Consultants, the cruise market in Northeast Asia - including China, South Korea and Taiwan - is set for substantial growth. The number of cruise passengers, estimated at 440,000 in 2005, is expected to reach 720,000 by 2010. Forecasts for the Pacific Asia region as a whole predict constant growth in terms of the total volume of cruise passengers. It is estimated that there were about one million cruisers in 2005, while this number will increase to 1.5 million by 2010," he said.

Regional headquarters

To fully capitalise on the tremendous opportunities in the region, the company has chosen Hong Kong as the location for its Asia-Pacific regional headquarters.

Costa Crociere's Asia division has a 25-strong team, headed up by Massimo Brancaleoni. The division will set about furthering Costa's business development in Asia in two ways:

• By marketing an exclusive tailor-made product in Asia, offered by the Costa Allegra, which has undergone a 12 million euros refurbishment to reposition it for the Chinese market. Costa Crociere S.p.A is the first large international cruise company in the world to be granted a license by the Government of the People's Republic of China to operate locally.

• By offering customers in more than 10 countries in the Asia-Pacific region cruises on the entire Costa fleet, Europe's most advanced, from the Mediterranean Sea to Northern Europe and from the Caribbean to South America.

Mr Onorato added:"Hong Kong, as one of the China's top tourist destinations, with an excellent tourism and transportation infrastructure and supported by the vision and pro-activity of the local Government, will represent an important Regional Cruise Hub for our Company's strategy of business development in the Asia-Pacific region."

The Acting Director-General of Investment Promotion at Invest Hong Kong, John Rutherford, said Asia's vibrant tourism market and the economic growth in key markets, particularly the Chinese mainland, have created great opportunities for cruise companies."Our established transportation and business links with the Mainland and the rest of Asia make our city the ideal location for companies to reach out to customers in the region," he added."This is an important milestone in strengthening Hong Kong's leading position as the tourist and business hub of Asia."

Headquartered in Genoa, Costa Crociere S.p.A, is a subsidiary of Carnival Corporation plc, the world's largest cruise group. Costa Crociere S.p.A. operates two brands, AIDA Cruises and Costa Crociere, which have a total of 14 ships in service and six under construction.

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