Greater Bay Area: Highlighting Hong Kong's Economic Resurgence with Data
25 June 2024 - 11:45PM
Business Wire
Hong Kong's economy saw an impressive growth of 2.7% in the
first quarter of 2024, according to data released by the Hong Kong
Census and Statistics Department. This growth surpasses
expectations, driven primarily by robust consumer spending. Private
consumption increased by 1% in the first quarter, marking the sixth
consecutive quarter of growth and accounting for over 70% of the
overall economy. During the first four months of 2024, Hong Kong
welcomed 14.62 million visitors, doubling the year-on-year figures,
with an average hotel occupancy rate of around 80%. The Hong Kong
SAR Government estimates that every 1.5 million tourists contribute
0.1 percentage point to economic growth, underscoring the crucial
role of cultural tourism in Hong Kong's economic vitality.
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In addition to consumer spending, Hong Kong's foreign trade is
rebounding. The total value of goods imports and exports rose by
9.9% year-on-year in the first quarter of 2024, driven by increased
demand from both the mainland and international markets. By the end
of March 2024, banking deposits in Hong Kong totaled HK $16.2
trillion, a year-on-year increase of 4.4%. The HKSAR Government has
introduced 49 industry-leading enterprises, with joint venture
investments exceeding HK $40 billion and creating over 13,000 jobs.
By the end of April, Hong Kong's various talent programs had
received 290,000 applications, with about 180,000 approvals and
120,000 talents arriving in Hong Kong.
Hong Kong continues to be a dynamic hub of opportunity, a
shining pearl of the orient for the world to witness.
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Yao Shunyu Phone: 0086-01068994660 E-mail:
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