The recently concluded Labor Day Golden Week in the Mainland brought a wave of activity to Hong Kong, with a total of 1.1 million visitors recorded over the five-day period. The bustling streets and vibrant events created a festive atmosphere, boosting local businesses significantly.
AlipayHK released data today (May 8), showing that during this period, offline merchants in HK saw their transaction value increase by nearly 200% year-on-year, thanks to payments made through Alipay+ by tourists from Chinese Mainland and other countries. Popular spending categories included shopping, with South Korean tourists leading international spending, followed by visitors from Malaysia, the Philippines, and Thailand.
The influx of tourists was attributed to HK hosting several large-scale events during the holiday, including concerts and the iconic Bun Scrambling Competition. These activities successfully attracted both mainland and international travelers to the city, driving up retail and service sector revenues.
Additionally, HK residents traveling to the Mainland during the holiday also contributed to a spike in cross-boundary activity. The usage of AlipayHK's mini-programs for booking high-speed rail tickets, reserving hotels, calling rides, securing restaurant queues, and purchasing group-buying vouchers surged by 450%. This led to record-high cross-boundary transaction volumes and spending in the Greater Bay Area during the holiday.
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