China's National Day break offers little relief for Hong Kong retailers

Sales outlook weak as mainlanders seek experiences over shopping sprees

20241007 Hong Kong Welcomes Visitors From Chinese Mainland During National Day Holiday

Hong Kong's Causeway Bay district bustles with tourists on Oct. 2, during China's National Day holidays. Despite an influx of visitors, retail officials say demand is nowhere near the pre-pandemic level. © Getty Images

STELLA YIFAN XIE and PEGGY YE, Nikkei staff writers

HONG KONG -- Liang Qicheng, a 29-year-old from Beijing, was wandering down Hong Kong's waterfront Avenue of Stars and snapping selfies with a friend. She was visiting the city on a four-day trip last week, during China's string of National Day holidays. But she was keeping her spending in check: She stayed at a bed and breakfast rather than a hotel, and she was not planning any big shopping sprees.

"It's no longer a good deal to buy stuff in Hong Kong because the exchange rate has become less favorable," Liang said.

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