China Warehouse- More Than Crockery Message Board

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Strategies & Market Trends : China Warehouse- More Than Crockery

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To: RealMuLan who wrote (2073)	12/17/2003 7:26:54 PM
From: RealMuLan	Read Replies (1) of 6370

China Tourists Staying Longer, Spending More In HK - CLSA HONG KONG (Dow Jones)--Tourists from mainland China are staying longer and spending more in Hong Kong, and are on track to spend a total of HK$59 billion in the city in 2004, according to a survey commissioned by brokerage CLSA and issued Monday. Following the relaxation of some travel and foreign exchange restrictions this year, an increasing number of mainland Chinese tourists are visiting Hong Kong - an average of 862,000 a month in the past three months - providing a welcome boost to the city's economy. ADVERTISEMENT Compared with CLSA's previous survey in August, the average length of stay has increased to 5.3 days from 4.2 days. The average spent on transport and accommodations rose to HK$2,140 from HK$1,590 while the average amount spent on shopping rose to HK$4,770 from HK$3,360. The brokerage predicts mainland China visitor arrivals will hit 8.2 million in 2003, and will surge to 12.4 million in 2004. Even if there is no further increase in average spending, that growth would generate about HK$59 billion in total shopping by mainland China visitors next year. sg.biz.yahoo.com

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