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Hong Kong’s mainland Chinese expats could be spending about US$903 million a month on luxury goods, boosting economy in absence of tourists

More than a quarter of the 1.3 million mainland Chinese living in Hong Kong are spending HK$20,000 (US$2,572) a month on luxury goods in the city, according to a survey of 550 respondents by artificial intelligence marketing platform EternityX.If the estimated 351,000 mainlanders, who earn an annual salary of at least HK$1.5 million, indeed spent that much then they could potentially be shelling out HK$7.02 billion a month on products such as luxury handbags, cosmetics and other expensive items…

Read the original article at South China Morning Post

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