Key View: Despite a forecasted deceleration, we hold a positive outlook for consumer spending in Hong Kong, China over 2024. As base effects, which arose from the full reopening of borders with Mainland China as well as the wider international tourism market, begin to wear off consumer spending growth will follow a more stable trajectory over the medium term (2024-2028). Moderate inflation and a solid labour market will provide upsides, while the easing cost of debt servicing and Hong Kong dollar consistency further support our positive view.
You May Also Like
Tracking the U.S. Tariff Domino Effect: From Steel to Electrical Appliances
The U.S. has imposed tariffs up to 50% on appliances with steel components, impacting Thailand’s exports. Expected declines in Thai electrical appliance exports are projected at -1.9% for 2025 and -2.1% for 2026, urging businesses to adjust strategies and diversify markets.
