Resilient labour market conditions will also help drive the economy up.
Hong Kong’s economy is expected to grow by 3.3% for the full year of 2024, according to experts from the Bank of East Asia.
Speaking at a media briefing, BEA chief economist Ricky Choi and chief investment strategist Frank Lee noted the city’s improving merchandise trade and tourism.
“With improving merchandise exports, stabilising asset markets, resilient labour market conditions, and a sustained recovery of inbound tourism, Hong Kong’s economy will continue its steady growth momentum,” said Choi.
In Q1, Hong Kong’s economy grew 2.7% year-on-year, powered by improving merchandise trade and inbound tourism.
For 2024, the unemployment rate is…