Hong Kong retail sales surged in November amid a revival in visitor traffic and continued government initiatives to encourage spending and stimulate the economy.
Revenue from jewelry, watches, clocks and valuable gifts soared 61% year on year to HKD 4.68 billion ($599.1 million) for the month, according to data the government’s Census and Statistics Department released Thursday. Retail sales across all product categories rose 16% to HKD 34.18 billion ($4.38 billion).
The growth reflected a favorable comparison with the same period a year earlier, when the municipality was still encumbered by tight Covid-19 restrictions. During that time, the numbers of travelers to Hong Kong was extremely low. The municipality derives much of its luxury revenue from tourists — in large part from China — who come to purchase goods. The border between Hong Kong and the mainland reopened at the beginning of last year.
For the first 10 months of the year, proceeds…
