[UPDATE] The Hong Kong Business Dashboard: The French Chamber in Hong Kong x Ekimetrics
The Hong Kong Business Dashboard developed* with Ekimetrics, which provides valuable insights on key economic indicators in Hong Kong with a focus on the retail sector and its associated industries has just been updated!
A few words from Olivier Kuziner, General Manager, Ekimetrics APAC
After a strong business rebound of Retail business at the end of 2023, we observe mid-2024 a market drop of -7%, across all the different categories. Luxury and Clothing sectors were the most exposed with the decline in tourists’ expenditure. However, the drop in F&B was less significant as being supported by local consumption. While the tourist level has continued to improve on the first half of 2024, (+64% year-on-year), it is still down of 40% compared to 2019 landmark year. Exploring the Hong Kong rental market for retail stores and commercial offices, we notice a sustained downward trend of prices. Early 2023, we noted a temporary spike in commercial shop rentals driven by tourism recovery, but this was followed by decline as the recovery effects diminished and consumer behaviour shifted with digitalized purchase practices.
Please note this dashboard is best viewed on desktops and tablets.
*Project designed under the guidance of the Chamber's Luxury and Retail Committee.
– To have access to the Hong Kong Business Dashboard below, please login to your member’s account –