Hong Kong April retail sales tumble 14.7% amid changing consumption pattern

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Hong Kong April retail sales tumble 14.7% amid changing consumption pattern
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Stan Rogers Folk Festival 2024: 27 years of music and community | SaltWire #festival #music #nsHONG KONG - Hong Kong's April retail sales fell 14.7% from a year earlier, partly due to a drop in visitor spending and a surge in outbound trips during the Easter holidays, government data showed on Friday.

"The changing consumption patterns of visitors and residents would continue to present challenges to the retail sector," a government spokesman said. Eight more Chinese cities have joined a scheme allowing their residents to travel to Hong Kong on their own, rather than as part of a tour group, in efforts to boost Hong Kong's economy. The total number of cities in the scheme is now 59.

April visitor arrivals stood at 3.39 million, up 17.3% from a year-ago period, data from the Hong Kong Tourism Board showed. That compared with 3.4 million in March, 4.0 million in February and 3.8 million in January.

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