This paper comprehensively analyzes the time series data from 1997 to 2019 and evaluates the development of the tourism industry in Hong Kong. The dataset consists of statistics of tourist arrivals，tourist expenditure，hotel rooms，MICE （meetings，incentives，conferences and exhibitions） and cross-border travels. These statistics show the competitive advantages and disadvantages of Hong Kong’s tourism industry，as well as the recovery countermeasures in responding to the crises. In relation to the development plan for the Guangdong-Hong Kong-Macao Greater Bay Area，this paper puts forward policy and management suggestions for the future development and innovation path of the tourism industry in Hong Kong.