Hong Kong’s retail sales rise 5.5% in January as tourists loosen purse strings Hong Kong’s retail sales rose 5.5 per cent year on year in January, with authorities crediting inbound tourism for supporting the sector. Provisional figures released by the Census and Statistics Department on Wednesday showed sales reached HK$37.3 billion (US$4.77 billion) in January, marking the ninth straight month of growth since May 2025, after 14 consecutive months of decline. The increase ended a four-month streak of growth above 6 per cent, but the government cautioned that the slower pace was partly due to the Chinese New Year holiday – traditionally a peak sales season – falling in February compared with January last year. A government spokesman said the retail sector’s recovery remained solid despite last January’s high base from an early Chinese New Year. He added that total retail sales rose significantly in January compared with the previous month on a seasonally adjusted basis. “Looking ahead, robust economic growth and sustained visitor arrivals will continue to support local consumption and benefit retailers,” he said. Annie Tse Yau On-yee, chairwoman of the Hong Kong Retail Management Association, said the figures reflected that growth in the sector had been sustainable. “The overall retail sales in January have been satisfactory. Although we are still falling short of the historical peak, the upwards trend since September last year has been sustainable,” she said. Sales of electrical goods and other consumer durables hit HK$4 billion in January, surging 38.7 per cent. Sales of jewellery, watches, clocks and valuable gifts rose 31.1 per cent, while motor vehicles and parts climbed 18.5 per cent. Tse, who is also the chairwoman and CEO of Tse Sui Luen Jewellery (International) Limited, said the number of items sold in the jewellery sector had actually dropped over the period, but the soaring gold price had returned an increase in sales value. Retail sales of wearing apparel surged 5.7 per cent year on year, while fuel sales fell 17.5 per cent to HK$627 million. In January, the city recorded 4.81 million visitor arrivals, up 1 per cent compared with a year ago, with 76 per cent coming from mainland China. Hong Kong is expected to receive 53.8 million visitors this year, an 8 per cent increase over 2025. The association also polled its members, who operate more than 8,000 outlets in the city, on their performance over the Chinese New Year holiday, and found more than 60 per cent of them recorded better sales than the same period last year. Tse said the industry was cautiously optimistic about the outlook. She cited an improved business environment and booming inbound tourism as growth drivers, while warning against uncertainties posed by military conflicts in the Middle East, residents’ cross-border spending and a bearish stock market. https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3345412/hong-kongs-retail-sales-rise-55-january-tourists-loosen-purse-strings?pgtype=live (ICE HONG KONG)

Fonte notizia: South China Morning Post