Hong Kong pops the champagne on rising tourist count

Visitors rose by 16.3% ito 12.2m.

According to Colliers International, thanks to the healthy labour market, local consumer sentiment improved during 4Q 2012. China saw a revival in growth, which suggests the economy has bottomed-out. the purchasing power of mainland tourists in hong kong continued to drive the city’s retail sales. 

However, the unsteady external environment could affect the local economy and consumer sentiment down the road.

The limited supply of prime shopping premises, expanding inbound tourism and inflationary pressure created a positive environment for the retail leasing market.

Here's more from Colliers:

With that in mind, rental rates continued to grow in 4Q 2012, albeit at a slower pace in view of the unresolved europe debt crisis and the still-struggling United States economy.

The number of inbound tourists continued to soar. according to the latest figures released by the Hong Kong Tourism Board (HKTB), Hong Kong saw a total of 12.2 million inbound visitors during the three-month period ending november 2012, increasing by 16.3% YoY.

This was mainly underpinned by 8.9 million mainland Chinese visitors and accounted for 73% of total arrivals.