Hong Kong Dec retail sales up 7.8% as tourism recovers

Hong Kong’s retail sales rose for the 13th consecutive month in December as tourism continued to improve, official data showed on Thursday.

Sales increased 7.8% year-on-year to HK$36.3 billion ($4.64 billion) in December, the Hong Kong government said. That compared with a 15.9% jump in November, a 5.8% rise in October, 13% growth in September and a 13.7% increase in August.

“Visitor arrivals should increase further alongside the continued recovery of handling capacity,” a government spokesman said.

Rising household income and the government’s efforts to promote mega events should provide support to retail businesses, the spokesman said.

In terms of volume, retail sales increased 4.8% in December, compared with 12.4% growth in November, a 2.9% rise in October, a 10% rise in September and 11% growth in August.

For the whole of 2023, the value of retail sales rose 16.2% year-on-year, while volume grew 13.8%.

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