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Paggie Leung

Shopping malls and travel agents anticipate better business this Christmas, with consumer confidence having recovered significantly from the depths of the economic crisis a year ago. 
Canis Lee Lai-yi, assistant general manager of leasing at the Harbour City shopping arcade in Tsim Sha Tsui, said consumer sentiment had improved gradually.
'We observed a slow growth in the first half of this year but the market sentiment has improved in the second half of the year,' she said. 
Lee said sales at Harbour City had grown 6 per cent year on year in the first half of the year, but were up 10 per cent for the first three quarters to a record HK$10.4 billion. 
She is upbeat that full-year sales will break last year's record of HK$13.4 billion. 
The arcade will spend HK$13 million on promotions this Christmas - including HK$6.5 million on decorations - 10 per cent more than last year. 
Other shopping malls, including Causeway Bay's Times Square and those owned by the MTR Corporation, also expressed optimism about festive season retail prospects. 
'The economy was still uncertain at the beginning of the year when people cut their spending,' Times Square's promotions and advertising manager, Vernon Ma Wai-lock,  said.
'But now, with the stock market [Hang Seng Index] rebounding to 22,000 points, the market seems more stable. 
'The public has digested all the bad news. And with Christmas coming, there are more excuses for people to go out and shop.' 
Maureen Fung Sau-yim,  general manager for leasing at Sun Hung Kai Properties,  which owns 48 malls across the city, said she believed there would be a 'strong rebound' at Christmas, with traffic and sales increasing by 20 per cent to 30 per cent compared with last year. 
But Retail Management Association  chairwoman Caroline Mak Sui-king  said she expected the total value of retail sales to jump by only 3 per cent this Christmas, because strong growth would not be seen in general consumer products. 
Travel agents said Hongkongers were more willing to spend on travelling than last year, even though tour prices had increased by 5 per cent to 10 per cent on average because the US dollar was weaker.
Steve Huen Kwok-chuen, travel agent EGL Tours'  executive director, said people had asked about Christmas tours earlier this year. EGL's group tours to Japan and Korea are already 70 per cent to 80 per cent full, while those to Taiwan were 60 per cent full. 
'Affected by the human swine flu, people did not travel in May and June and have therefore stored some spending power,' Huen said. 
Hong Thai Travel's  senior marketing manager, Balwin Yeung Pok-hung,  said it expected customer numbers to increase by 10 per cent this year. 
He said Australia, Europe, India, the Maldives and Japan were among the most popular destinations for Christmas travel this year.



Shopping malls and travel agents expect a cheery Christmas