Luxury Consumption In Hongkong Benefits From The Mainland'S Free Travel To Hong Kong

On the afternoon of 16, Hongkong's Guangdong street, the famous shop Street, was no longer a long line. In recent months, clothing restaurants and pharmacies jewelry list all coincide with each other.

Data from the Hongkong Tourism Board also show that the flow of people and per capita consumption have slowed down significantly. Beichen, the vice president of the New Democratic Party, who made up garments, said Brand of work clothes It has also benefited from free travel, but has been weakening rapidly in the past 3 months. It has stopped the renewal of stores in real time and warned that there is a bubble crisis in the free trade.

According to the statistics of the Hongkong Tourism Development Bureau, the number of mainland tourists has increased two times in 9 years since the opening of free travel in 2003, up from 28 million 100 thousand last year. More than 60% of them were 18 million 340 thousand free travellers, 26 times faster than the early days of opening up, while 41 million 920 thousand of the total number of inbound travellers exceeded 33%.

Free travel has continued to grow, but in recent years, the number of people and per capita consumption has slowed down significantly. In January this year, the number of passengers was 2 million 154 thousand, and the annual growth rate was 24.5%. However, the annual growth of the May Day golden week in the traditional consumption schedule has dropped to 22%, and 1 million 625 thousand people have dropped by 4% compared with 1 million 702 thousand in April. In addition, the growth of per capita consumption also slowed, and the growth of night visitor growth fell from 19.2% in 2007 to single digit growth.

Ready-made clothing has always been the favorite of mainland travelers, but Tian Beichen, vice chairman of the New Democratic Party, who founded G2000, said he felt free. He pointed out Office workers ready-made clothes Generally speaking, it is not affected by the economic cycle, and its brand is more than 30% tourists free. In the past 3 months, the rate of sales growth slowed down at an alarming rate. In March, it still increased by more than 50% compared with the same period last year. It was 40% in April and only 20% in May. The proportion of free travel fell to over 20% during the same period, and there was no optimism in the first week of this month.

　　 Luxury goods Also affected, Zhu Jitao, chief executive of Prince jewellery and timepieces, said that every year may day business grew by three or four, but this year it fell 20% for the first time this year. In the past, the number of watches sold by mainland Hakkas, which was 100 thousand yuan, fell by more than half, reflecting the cautious consumption, and the list of large hawker buying more than one million yuan.

As for daily necessities, Liu Aiguo, director general of the Hong Kong and Kowloon pharmacy General Chamber of Commerce, said recently that Wang Ding did not make a fortune. Especially in the tourist area, 70% of the tourists came to the drugstore with free action. In recent months, the business dropped 20%. "Now the mainlanders only buy 5, 6 medicine oil and several cans of milk powder." He said that in recent years, many laymen saw the free sweep of milk powder and thought it was easy to make money. The result was that they would be the first to bear the brunt.

Huang Jia, chairman of the Catering Association Association, described this year as the most quiet year since the opening of the free trade. In the past two months, the industry has seen a 20% drop in business in Tongluowan, where restaurants and snack bars, which are more popular with the mainland, have seen the biggest impact in the past two months.