On the second day of the Labor Day "Golden Week" holiday (May 2), Hong Kong welcomed a total of 261,000 inbound tourists as of 9 p.m. Tourist hotspots such as Tsim Sha Tsui and Mong Kok were packed with crowds, while countryside attractions also saw a surge in visitors. The recovering gold prices have further fueled shopping enthusiasm, with many tourists visiting HK to purchase gold ornaments for investment purposes.
A representative from a jewelry store selling gold ornaments reported a 30% year-on-year increase in sales. A tourist from Yunnan, Ms. Guan, stated, "I came to buy a gold ring. We're preparing for our wedding, so we're looking for something suitable. Plus, with the Labor Day holiday, the price difference here makes it cheaper than in the mainland." Another tourist from Zhejiang, Ms. Li, shared her shopping experience: "I bought a bracelet, bangles, and some small pendants. I come here every year to buy gold, spending around RMB 20,000 this time."
Ms. Li, Regional General Manager of Chow Sang Sang's HK, Macao, and Taiwan division, explained that HK's lack of sales tax or value-added tax leads to a noticeable price advantage over the mainland, with a difference of around 10%. The recent weakening of the US dollar has further boosted the appeal of gold as an investment.
Beyond shopping, there has been a growing trend among tourists to explore HK's natural attractions. HK's Secretary for Culture, Sports, and Tourism, Rosanna Law, noted that the city's seamless transportation and visa arrangements with the mainland make it convenient for tourists to visit HK. She emphasized that the government is committed to providing excellent services and new arrangements, but businesses and attractions must also innovate to encourage visitors to spend more and stay longer in the city.
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