Hong Kong’s retail recovery accelerated in August with sales rising by 3.8 per cent year on year and for the fourth month in a row, as the city’s mega-event tourism drive provided a boost to consumer sentiment.
Provisional figures released by the Census and Statistics Department on Thursday showed sales of HK$30.3 billion (US$3.9 billion) in August, the fourth month in a row of growth following 14 consecutive months of decline.
In July, retail sales rose by a revised 1.8 per cent to HK$29.7 billion.
A government spokesman said the continued growth in retail sales reflected a stabilising local consumer sentiment, buoyed by inbound tourism and the government’s mega-events drive.
“The stabilising local consumer sentiment, coupled with sustained growth in inbound visitors and the government’s proactive efforts in promoting tourism and mega-events, should render support to retail businesses,” he said.
In August, there were 16 per cent more visitors visiting Hong Kong, at 5.15 million, according to official statistics.
The figure broke the post-pandemic monthly record of 4.7 million visitors set in January this year.
