Hong Kong’s jewellery market is dominated by the section of precious jewellery. The development of jewellery market in Hong Kong has been boosted by the expansion of the local market, including sales to large number of tourists who are visiting to Hong Kong from large variety of countries.
2.1 Tourism Performance in 2011
In 2011, the statistics from Tourism Commission under Commerce and Economic Development Bureau of Hong Kong Government showed that a record-high of 42 million visitors arriving Hong Kong from all over the world. The number of visitors is increased by 16.4% over 2010. In addition, Mainland China continued to be the country with largest number of visitors visiting Hong Kong, which occupied 67.0% of the total arrivals with 28.1 million arrivals. As the Individual Visit Scheme adopted, there was an increase by 28.8% of mainland visitors arriving Hong Kong. Under those policies and improving image of Hong Kong tourism, the number of Mainland China arrivals will keep increasing. This affects the total tourism expenditure and helps the retail of jewellery positively.
Tourism Expenditure in 2011
In 2011, the total tourism expenditure associated to inbound tourism was HK$253.0 billion, which recorded an increase by 20.5% over 2010. This large amount of expenditure was consumed by retail industry in Hong Kong. According to Hong Kong Tourism Board’s survey, overnight visitor per capita spending was HK$7,333 in total. To be more specific, spending on jewellery accounted for 25% of their total spending on shopping; as for those from the Mainland China, the spending on jewellery was high as 28%. Hong Kong jewelers have expanded their retail network in order to capture that large amount of tourism expenditure.
2.3 Growing Demand for retail jewellery in Hong Kong by China By a survey conducted by the Hong Kong Trade Development Council (HKTDC) in 2011, when buying low-to-medium and medium-to-high-end brands, Hong Kong brands...
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