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Tourism Increase Drives Hong Kong Jewelry Sales

by Klim Brik last modified Apr 07, 2018 09:15 PM Apr 4, 2018 4:24 AM By Rapaport News 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.