Research and Markets: Hong Kong Retail Report Q3 2012

DUBLIN--()--Research and Markets (http://www.researchandmarkets.com/research/xl3ksg/hong_kong_retail_r) has announced the addition of the "Hong Kong Retail Report Q3 2012" report to their offering.

The Q312 BMI Hong Kong Retail report forecasts that total retail sales in the special administrative region will grow from HKD332.89bn (US$42.94bn) in 2012 to HKD369.59bn (US$47.68bn) by 2016. Rising disposable incomes and a strong tourism industry are key factors behind the forecast growth. Hong Kong's nominal GDP is forecast to be US$258.2bn in 2012. We predict average annual GDP growth of 3.3% through to 2016. With the population increasing from 7.2mn to 7.5mn over this period, GDP per capita is forecast to rise 20.0%, from US$35,886 in 2012 to US$42,633 by 2016.

Tourist spending contributes significantly to Hong Kong retail sales, and data from the Hong Kong Tourism Board (HKTB) show that a total of 36.03mn people visited Hong Kong in 2010, up 21.8% year-on-year (y-o-y). Spending by visitors in 2010 amounted to HKD210bn (US$27bn), a rise of 32% on 2009, while the first-time tourist expenditure has topped HKD200bn.

Retail sub-sectors that are forecast to achieve healthy sales growth throughout the period include automotives, with sales forecast to increase by almost 18%, from 41,335 units in 2012 to 48,581 units by 2016.

Business Monitor International's Hong Kong Retail Report provides industry professionals and strategists, corporate analysts, retail associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Hong Kong's retail industry.

Reasons To Buy

- Benchmark BMI's Independent 5-year Retail Industry Forecasts for Hong Kong to test other views - a key input for successful budgeting and strategic business planning in the Hong Kong Retail market.

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For more information visit http://www.researchandmarkets.com/research/xl3ksg/hong_kong_retail_r

Contacts

Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
Sector: Retail

Contacts

Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
Sector: Retail