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Tourism Increase Drives Hong Kong Jewelry Sales

Category grew by 21% during the Chinese New Year season.
Apr 4, 2018 4:24 AM   By Rapaport News
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RAPAPORT... Sales of jewelry and other luxury goods in Hong Kong grew in the first two months of the year amid stronger employment rates and increased tourism. 

Sales of jewelry, watches, clocks and valuable gifts rose 21% to $2.05 billion (HKD 16.1 billion) in January and February, Hong Kong’s Census and Statistics Department reported Tuesday. It was one of the highest-grossing retail categories, second only to the combined “other consumer goods” segment.

The municipality’s total retail sales for the period — which included the Chinese New Year — increased a provisional 16% by value year on year, coming to $11.48 billion (HKD 90.13 billion).

The growth reflects an improvement in employment and income conditions, as well as an increase in the rate of tourism, a government spokesperson said.

“The outlook for retail sales should remain positive in the near term,” the spokesperson added.

Image: ShingWong – commonswiki
Tags: Chinese New Year, clocks and valuable gifts, Hong Kong Jewelry Sales, Hong Kong’s Census and Statistics Department, Jewelry, jewelry and other luxury goods, Rapaport News, tourism, watches
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