Income from jewellery, watches, clocks and beneficial items soared 61% 12 months on 12 months to HKD 4.68 billion ($599.1 million) for the month.

It’s in accordance with knowledge the federal government’s Census and Statistics Division launched Thursday.

Retail gross sales throughout all product classes rose 16% to HKD 34.18 billion ($4.38 billion).

The expansion mirrored a good comparability with the identical interval a 12 months earlier. Throughout this time, municipality was nonetheless encumbered by tight COVID-19 restrictions.

Throughout that point, the numbers of travellers to Hong Kong was extraordinarily low. The municipality derives a lot of its luxurious income from vacationers largely from China who come to buy items.

The border between Hong Kong and the mainland reopened in the beginning of final 12 months.

For the primary 10 months of the 12 months, proceeds from jewellery, watches, clocks and beneficial items jumped 55% to HKD 54.68 billion ($7 billion).

Complete retail gross sales for the interval grew 17% to HKD 370.32 billion ($47.43 billion).

In November, 3.3 million guests arrived in Hong Kong. This quantity is compared with 113,763 throughout the identical month of 2022. Knowledge from the Hong Kong Tourism Board proves this.

Of those that travelled to the municipality in that month, 2.4 million have been from the mainland, versus 58,694 the 12 months earlier than.

The worth of whole retail gross sales elevated visibly in November over a 12 months earlier alongside the revival of inbound tourism, a authorities spokesperson mentioned.

Additional restoration of inbound tourism ought to proceed to learn the retail sector.

Continued enchancment in family earnings in addition to numerous promotional campaigns and actions launched by the federal government and the business must also present help.

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