HK consumer confidence rising, survey shows

PUBLISHED : Friday, 11 May, 2012, 12:00am
UPDATED : Friday, 11 May, 2012, 12:00am


Better job prospects and financial status boosted Hong Kong consumers' confidence in the first quarter, says market research firm Nielsen.

Quarterly consumer confidence rose four points to 103 - a score above 100 is positive - after a decline in two consecutive quarters last year.

The global average confidence index stood at 94 for the first quarter, while that for the mainland was 110.

The survey was conducted with a sample size of 28,000 internet consumers across 56 countries.

'The HK$6,000 scheme by the government, the bonus payout at the beginning of the year, combined with the festive seasons made a positive impact on consumers,' said Oliver Rust, managing director of Nielsen Hong Kong.

Economic outlook continued to be the top concern in Hong Kong, said 41 per cent of the respondents, two percentage points higher than in the previous quarter. The other major concerns among Hongkongers for the next six months include food inflation and job security.

Retail sales grew 17 per cent year on year in the quarter, the survey found. The influx of 7.9 million mainland tourists was one of the main drivers of this growth.

Rust said there were two main types of mainland tourists - day tourists who mostly come across from Guangdong, and those who on average spend three nights in the city.

The number of daytrippers last year was 14.5 million, while overnight tourists numbered about 13.6 million, Nielsen found.

Those who stay overnight spent on average HK$12,000 to HK$13,000 per visit, including hotel, food and shopping, Rust said.

Day tourists usually target purchases and their average expenditure per trip is under HK$2,000.