0518 GMT - Hong Kong could see a turnaround in retail sales this year on an estimated 25% increase in visitors to the city, with CGS International analysts projecting retail sales gain at 5% for 2025. The city's retail sales by value fell 7.3% in 2024.The easing of visa policies for mainland Chinese visitors to Hong Kong and continued increase in foreign tourists have boosted Hong Kong's visitor numbers, they add. The opening of Kai Tak Sports Park in March and multiple major events including concerts and sporting events should also attract high-spending tourists in 2025 and encourage local consumption, they say. There were encouraging signs in higher visitor numbers from China and other countries over the Lunar New Year holiday, which have boosted hotel bookings and luxury spending, CGS International says. (jiahui.huang@wsj.com; @ivy_jiahuihuang)
(END) Dow Jones Newswires
February 05, 2025 00:18 ET (05:18 GMT)
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