China’s Long Road to Travel Retail Recovery Starts at Hong Kong

Local retailers expect the market to significantly improve in the second half when long national holidays draw in more mainland tourists.

The world’s largest gambling hub, Macau welcomed more than 71,000 visitors on Monday, the highest single-day entry record since the pandemic. Average daily visitor arrivals reached 51,000, a 217 percent jump year-over-year. More than 94 percent of the visitors over the first three days of Chinese New Year came from mainland China.

Tse expects the market to significantly improve in this year’s second half when long holidays such as the Golden Week are expected to draw in more mainland China tourists. Tse also urged the government to issue another 5,000 Hong Kong dollars in consumption vouchers to stimulate the retail market.NurPhoto via Getty Images

According to Cushman & Wakefield, Brunello Cuccinelli signed a lease for a three-story storefront in Central in the fourth quarter of 2022.shopping mall Landmark in Central. During Chinese New Year, Tsang said a gradual increase in mainland shoppers helped the fashion retailer “record a number of exceptional transactions in fashion and home and lifestyle.”

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