Tourism Increase Drives Hong Kong Jewelry Sales

RAPAPORT... Sales of jewelry and other luxury goods in Hong Kong grew inthe first two months of the year amid stronger employment rates and increasedtourism.  Sales of jewelry, watches, clocks and valuable gifts rose21% to $2.05 billion (HKD 16.1 billion) in January and February, Hong Kong'sCensus and Statistics Department reported Tuesday. It was one of thehighest-grossing retail categories, second only to the combined "other consumergoods" segment. The municipality's total retail sales for the period - whichincluded the Chinese New Year - increased a provisional 16% by value year onyear, coming to $11.48 billion (HKD 90.13 billion). The growth reflects an improvement in employment and incomeconditions, as well as an increase in the rate of tourism, a governmentspokesperson said. "The outlook for retail sales should remain positive in thenear term," the spokesperson added. Image: ShingWong -commonswiki