The Hong Kong retail market experienced rapid growth in the decade since the launch of Individual Visit Scheme in 2003. Growth was propelled by tourists from Mainland China consisting of a large and expanding urban middle-class with a strong appetite for lifestyle consumer goods and services.
Strong demand for luxury goods has resulted in robust demand from luxury retailers and other tourist-oriented trades for prime retail premises in core locations. Combined with the lack of supply helped drive rapid growth in rents and ensured Hong Kong rose to become one of the most expensive retail destinations in the world.
Contacts
| Marcos Chan Head of Research Hong Kong, Macau & Taiwan +852 2820 2886 |
Rosanna Tang Associate Director, Research Hong Kong, Macau & Taiwan +852 2820 2806 |
Jerry Ng Assistant Manager, Research Hong Kong, Macau & Taiwan +852 2820 1517 |
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| Joe Lin Executive Director Hong Kong Retail Services +852 2820 2860 Email |
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