According to data from the Census and Statistics Department, the Immigration Department, and the research department of Midland IC&I, Hong Kong’s total retail sales in 2023 amounted to nearly 40.7 billion HK dollars, with the three major luxury categories (“clothing, footwear and related products,” “jewelry, watches and valuable gifts,” and “medicines and cosmetics”) totaling approximately 23.7 billion HK dollars, down about 16% and 29% from 2018, respectively.
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