Upbeat sentiment, tourist arrivals lift HK jewellery sales
Positive consumer sentiment alongside surging tourist arrivals bolstered sales of jewellery and other luxury items in Hong Kong in July, latest government data showed.
According to the city's Census and Statistics Department, sales of jewellery, watches and clocks, and other valuable items rose 19.8 per cent year on year in July to HK$4.95 billion (around US$631 million) while January to July figures were up 63.8 per cent to HK$35.36 billion (approximately US$4.5 billion) from the same period last year.
Sales across all retail categories increased by 16.5 per cent in July compared with the same month in 2022 while a 20.1 per cent uptick was recorded in January to July.
Hong Kong said solid revival in inbound tourism should continue to benefit the retail sector in the coming months, supported by improved labour market conditions and government-led measures to boost consumption.