
Tourism rebound and growing consumer confidence fuel sixth consecutive month of retail growth in city
Hong Kong’s retail sector recorded a 6.9 per cent year-on-year increase in October 2025 retail sales by value, reaching HK$35.2 billion — continuing a six-month streak of gains fueled by rising visitor numbers and stronger domestic sentiment.
Retail sales volume also rose, up 5.3 per cent compared to the same month last year, improving from a 4.8 per cent year-on-year gain in September.
The surge in retail comes alongside a sharp rebound in tourism: visitor arrivals to the city hit approximately 4.59 million in October, a 12.2 per cent increase over the same month in 2024. Of these, around 3.45 million were visitors from mainland China, reflecting a 10 per cent rise, underscoring the growing importance of cross-boundary travellers to Hong Kong’s retail recovery.
Luxury and high-end retail categories saw especially strong performance, with jewellery, watches, clocks and valuable gifts experiencing a 9.5 per cent year-on-year increase in sales.
Meanwhile, clothing, footwear and allied items recovered modestly — up 0.9 per cent — after a drop in the previous month.
Despite the boost in October, broader year-to-date figures remain mixed.
Over the first ten months of 2025, the total value of retail sales remains flat compared with the same period in 2024, and the overall sales volume has fallen by around 1.5 per cent.
But government officials voiced optimism, noting that improving local consumer confidence combined with sustained inbound tourism should continue to underpin retail business activity heading into the year end.
Analysts observe that for Hong Kong’s retail industry, the latest data reinforces a growing reliance on tourism-driven demand — particularly from mainland China — even as domestic consumption remains cautious.
For many retailers, especially those in the luxury and gift segments, the rebound in visitor spending may be pivotal to sustaining the recovery through the coming months.
Retail sales volume also rose, up 5.3 per cent compared to the same month last year, improving from a 4.8 per cent year-on-year gain in September.
The surge in retail comes alongside a sharp rebound in tourism: visitor arrivals to the city hit approximately 4.59 million in October, a 12.2 per cent increase over the same month in 2024. Of these, around 3.45 million were visitors from mainland China, reflecting a 10 per cent rise, underscoring the growing importance of cross-boundary travellers to Hong Kong’s retail recovery.
Luxury and high-end retail categories saw especially strong performance, with jewellery, watches, clocks and valuable gifts experiencing a 9.5 per cent year-on-year increase in sales.
Meanwhile, clothing, footwear and allied items recovered modestly — up 0.9 per cent — after a drop in the previous month.
Despite the boost in October, broader year-to-date figures remain mixed.
Over the first ten months of 2025, the total value of retail sales remains flat compared with the same period in 2024, and the overall sales volume has fallen by around 1.5 per cent.
But government officials voiced optimism, noting that improving local consumer confidence combined with sustained inbound tourism should continue to underpin retail business activity heading into the year end.
Analysts observe that for Hong Kong’s retail industry, the latest data reinforces a growing reliance on tourism-driven demand — particularly from mainland China — even as domestic consumption remains cautious.
For many retailers, especially those in the luxury and gift segments, the rebound in visitor spending may be pivotal to sustaining the recovery through the coming months.



























