The continued revival of inbound tourism helped Hong Kong’s retail sales notch up a 12th consecutive month of growth in November, official data showed on Thursday.
Sales increased 15.9 per cent year-on-year to US$4.38 billion in November, the Hong Kong government said. That was compared with 5.8 per cent growth in October, 13 per cent growth in September and 13.7 per cent rise in August.
“An expected further recovery of inbound tourism should continue to benefit the retail sector,” a government spokesman said, adding that a continued improvement in household income and various activities also provide support to the economy.
In volume terms, November retail sales increased 12.4 per cent year-on-year. That compared with a 2.9 per cent rise in October, 10 per cent rise in September and 11 per cent growth in August.
For the first 11 months of 2023, the value of retail sales rose 17.1 per cent year-on-year while volume grew 14.7 per cent.
Hong Kong’s…
