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'Golden era' for Hong Kong retail is over as Chinese tourists continue to tighten their purse strings

CNBC
Summary
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86% Informative

Hong Kong retail sales have plunged 7.3% in the first seven months of the year compared with 2023 .

That's despite a massive 52.2% rebound in visitor arrivals during the period.

Mainland China accounted for nearly 90% of the 22.16 billion Hong Kong dollars ( $2.84 billion ) spent by same-day visitors.