The Hong Kong jewelry sales grew according to a report released by Hong Kong’s Census and Statistics Department on Tuesday. Buying engagement rings in Hong Kong is a very common activity. In fact, jewelry items and other luxury goods increased in the first two months of 2018 due to stronger employment rates and increased tourism coming to Hong Kong.
Sales of valuable gifts such as jewelry, watches, bags, and watches given to a loved one rose by 21% to a total amount of $2.05 billion USD in January and February. The reason for the increase in this segment is in part a reflection of the improved employment and income conditions in Hong Kong. Combined with the rise of inbound tourism.
The total Hong Kong jewelry sales in that period included the Chinese New Year which increased according to the report a provisional 16% by value year on year. Counting a total of $11.48 billion.