However less popular with Chinese tourists than before the covid, Hong Kong is seeking to win them back by raising the maximum purchase threshold for duty-free goods. he former British island is also revitalizing its iconic Landmark shopping mall, transforming it into a true experiential luxury destination.
Competed by destinations such as the tax-free Chinese island of Hainan, Macau and Japan, and buoyed by a very weak yen, Hong Kong is working hard to win back the hearts (and wallets) of Chinese tourists.
Two very concrete examples: Hong Kong has just sharply increased the limit on duty-free purchases within its territory. And the Hong Kong Land Group is extensively restoring its Landmark center to make it “the place to be” for business, lifestyle and luxury shopping.
In terms of regulations, on July 1 the Asian island raised the duty-free quota for Chinese tourists from 5,000 yuan ($688) to 15,000 yuan ($2063) per trip, provided they pass through six land border checkpoints. These are Lo Wu, Futian, Shenzhen Bay, the West Kowloon high-speed train terminus, the Hong Kong-Zhuhai-Macau bridge and Gongbei.
Awakening retail
Read also > HONG KONG IS ONCE AGAIN ATTRACTING THE INTEREST OF LUXURY BRANDS
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