HONG KONG – Hong Kong”s economy rebounded in 2023, with its gross domestic product, or GDP, increasing by 3.2 percent in real terms over 2022, government data showed on Wednesday.
Advance estimates released by the Census and Statistics Department showed that GDP increased by 4.3 percent in real terms in the fourth quarter of 2023 over a year earlier, compared with the increase of 4.1 percent in the third quarter.
A government spokesman said the city’s economy continued to revive in the fourth quarter of 2023, with inbound tourism and private consumption remaining the key drivers.
“Private consumption expenditure turned to a notable increase after the removal of anti-epidemic measures, supported by rising household income and the government’s various initiatives,” a government spokesman said in a statement.
On a seasonally adjusted…
