Hong Kong’s Finance Chief Forecasts Robust Retail Growth Driven by Tourism Recovery

Hong Kong’s finance chief, Paul Chan Mo-po, highlighted the significant role of increasing tourism in driving the recovery of retail sales in the region. In August alone, retail sales surged to HK$30.3 billion, signaling a notable 3.8% year-on-year growth, surpassing market predictions. This positive trend has persisted for four consecutive months, representing the most substantial uptick in 20 months. With factors like a stable housing market, a robust stock performance, and a rise in tourist arrivals, the local retail sector is set on a path of steady revival. Through various extensive events and strategies, including a series of upcoming mega-events…