Hong Kong Retail Sales Rise Again in October as Visitor Numbers Grow

Post by : Saif Nasser

Hong Kong’s retail industry received another boost in October as new government data showed that sales continued to improve for the sixth straight month. The value of retail sales rose 6.9% compared to the same month last year, reaching HK$35.2 billion. This steady rise signals that the city’s consumer sector is gaining strength after years of uncertainty, and businesses are beginning to feel more confident about future demand.

The latest figures also show that sales increased not only in value but also in volume. Retail sales volume grew 5.3% in October, slightly higher than the 4.8% increase recorded in September. However, when looking at the first ten months of the year, the overall value of retail sales stayed close to last year’s levels, while retail volume slipped by 1.5%. This indicates that although recent months are showing improvement, the recovery has been gradual and uneven across the year.

A key factor behind the October rise is the growing number of visitors returning to Hong Kong. According to tourism data, the city received 4.59 million visitors in October, which is a strong 12.2% jump from the same month last year. Mainland Chinese tourists formed the majority of these arrivals, with 3.45 million people travelling to Hong Kong from across the border. Their numbers rose by 10% year-on-year and continue to play an important role in supporting the city’s shops, malls, and restaurants.

Government officials said the increase in visitor arrivals and the improvement in local consumer sentiment should continue to help the retail sector. They believe that better economic conditions, more travel activity, and large events in the city will keep demand strong in the coming months.

Different retail categories also showed varying levels of growth. Jewellery, watches, clocks and valuable gifts saw a 9.5% increase in sales, following a strong jump of 10.3% in September. These items are often popular among tourists, and the continued rise reflects renewed spending by visitors. Clothing, footwear, and related products also returned to growth, rising 0.9% after seeing a drop of 6.6% in September. This mild rebound suggests that fashion and apparel retailers may be recovering slowly as more shoppers return to stores.

The October retail performance suggests that Hong Kong’s consumption environment is becoming healthier. Although challenges remain, especially with global economic uncertainty, the city’s tourism-led spending is proving to be a strong support system. If visitor numbers keep rising and local confidence stays stable, retail businesses may see further improvement as the year comes to a close.

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