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Mainland tourists boost Hong Kong holiday sales
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Tourists from the mainland are proving a big boon to retailers in the Hong Kong Special Administrative Region over the New Year holidays. They expect another round of healthy sales figures over the upcoming Spring Festival.
It has been a good start for the Hong Kong retail sector. An increasing number of mainland visitors are swarming in with bulging wallets.
In neighboring Shenzhen, the number of tourists heading for Hong Kong has increased around 20 percent during the holiday.
Lin Shaojiang, Shenzhen Huanggang Port said "On New Year's Day alone, about 50-thousand people passed through our checkpoint just in the morning."
The mainland tourists have helped boost Hong Kong retailers' sales volume by 8 to 12 percent from a year earlier during the New Year holiday.
Many shopping malls have launched special promotion packages catering to mainland tourists. These visitors did not disappoint retailers, spending as much as 20 percent more than other travelers.
One mainland tourist said "I have spent 3-thousand yuan more than my budget, mainly on food and clothing."
Yes, gold jewelry, home theaters and skin care products are mainland tourists' favorites. And their frenzy has increased Hong Kong retailers' confidence.
One shopping mall manager said "Since the second half of 2009, our sales of clothing, shoes, and cosmetics have increased sharply. We expect our whole year sales volume to climb 5.8 percent."
Retailers also predict that the upcoming Spring Festival in mid-February will be another harvest, with sales volumes up at least 10 percent, year-on-year. They believe that with the economic recovery, the overall sector will witness even better growth in 2010.
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