It used to be a high-flier, but if latest research is anything to go by, Hong Kong International Airport is no longer the best in the world.
The Chek Lap Kok facility's ranking has slipped from first to fifth in the annual study on the performance of 195 airports worldwide.
But the report shows it is still among the least expensive airports, with the average landing and other charges for a passenger costing just slightly more than US$1,000. Beijing and Shanghai are over US$2,000, while London's Heathrow is US$8,000.
These were the key findings of the 2013 ATRS Global Benchmarking project that drew information from airports' financial statements, annual reports and direct data requests. Annual traffic statistics, capacity, airport charges and general information surveys were also taken into account in the project.
In the Asia-Pacific region, Chek Lap Kok came out tops in efficiency from 2008 to 2011, but last year fell behind Seoul's Gimpo International Airport and Sydney Airport.
Hong Kong also has some of the lowest combined and landing passenger charges in the region for a Boeing 737- 800, while passenger traffic rose by 8,000 travellers last year. The Asia Pacific review included 35 airports in Asia and 16 in Oceania.
Carlson Wagonlit Travel also released its 2014 travel price forecast, which showed worldwide travel prices would increase moderately next year, in line with limited economic growth.
Mainland airlines were expected to lead the region in price increases next year, with fares likely to rise as much as 6.5 per cent. Hong Kong was expected to see relatively modest increases of 2.2 to 4.2 per cent.
Hotel rates, meanwhile, could rise up to 4.1 per cent on the mainland, as the market continues to experience strong demand with new supply from global chains and emerging brands tailored to Chinese travellers.
Hong Kong, a market that boasts some of the highest occupancy rates in the world, is expected to see increases of up to 4.2 per cent in hotel rates.