G Sachs: HK Retail Trend Positive, Golden Week Visitor Arrivals Up 10% YoY
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G Sachs reports a positive retail trend in Hong Kong, with inbound visitor arrivals during Golden Week up 10% YoY to 1.19 million, exceeding government forecasts. Outbound trips fell 11% YoY due to last year's high base effect. The property market recovery and reduced local consumption outflow are expected to boost consumer sentiment. Retail sales, particularly in the high-end segment, are projected to achieve sustainable double-digit growth. Tourist spending at K11 MUSEA rose 25% YoY, and restaurant revenues in tourist areas increased by 15% to 20% YoY, with hotel occupancy around 90%.
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