Consumer Spending in Hong Kong decreased to 500401 HKD Million in the first quarter of 2025 from 541720 HKD Million in the fourth quarter of 2024. This dataset provides - Hong Kong Consumer Spending - actual values, historical data, forecast, chart, statistics, economic calendar and news.

This statistic shows the year-on-year percentage of change in personal consumption expenditure in Hong Kong from 2013 to 2023. In 2023, private consumption expenditure in Hong Kong increased by *** percent in comparison with the previous year.

General government final consumption expenditure (current US$) in Hong Kong was reported at 52256628249 USD in 2024, according to the World Bank collection of development indicators, compiled from officially recognized sources. Hong Kong - General government final consumption expenditure - actual values, historical data, forecasts and projections were sourced from the World Bank on July of 2025.

Key information about Hong Kong SAR (China) Private Consumption: % of GDP

• Hong Kong SAR (China) Private Consumption accounted for 66.8 % of its Nominal GDP in Dec 2024, compared with a ratio of 64.2 % in the previous quarter.
• Hong Kong SAR (China) Private Consumption contribution to Nominal GDP ratio is updated quarterly, available from Mar 1973 to Dec 2024, with an average share of 61.5 %.
• The data reached an all-time high of 75.3 % in Jun 2023 and a record low of 53.0 % in Sep 1989.

• In the latest reports, Hong Kong SAR (China) GDP expanded 2.8 % YoY in Mar 2023.
• Its Nominal GDP reached 91.4 USD bn in Mar 2023.
• Hong Kong SAR (China) GDP Per Capita reached 48,990.8 USD in Dec 2022.
• Its Gross Savings Rate was measured at 30.2 % in Sep 2024.

A November 2020 survey conducted among consumers in Hong Kong revealed that more than one-in-four respondents would likely spend less on cosmetics in the following six months. eanwhile, a narrow majority of ** percent of respondents in Hong Kong expected no changes in the next half year.

Key information about Hong Kong SAR (China) Private Consumption Expenditure

• Hong Kong SAR (China) Private Consumption Expenditure was reported at 71.821 USD bn in Dec 2024. This records an increase from the previous number of 67.275 USD bn for Sep 2024.
• Hong Kong SAR (China) Private Consumption Expenditure data is updated quarterly, averaging 24.391 USD bn from Mar 1973 to Dec 2024, with 208 observations.
• The data reached an all-time high of 71.821 USD bn in Dec 2024 and a record low of 1.172 USD bn in Mar 1973.
• Hong Kong SAR (China) Private Consumption Expenditure data remains in an active status in CEIC and is reported by CEIC Data.
• The data is categorized under World Trend Plus’s Global Economic Monitor – Table: Nominal GDP: Private Consumption Expenditure: USD: Quarterly.

According to a survey conducted by Rakuten Insight in Hong Kong in November 2023 on consumer holiday shopping behavior, around ** percent of respondents who planned on going holiday shopping answered that they spent or were willing to spend between *** and *** Hong Kong dollars. The same proportion of respondents stated that they were planning on spending more than ***** Hong Kong dollars.

General government final consumption expenditure (% of GDP) in Hong Kong was reported at 12.84 % in 2024, according to the World Bank collection of development indicators, compiled from officially recognized sources. Hong Kong - General government final consumption expenditure (% of GDP) - actual values, historical data, forecasts and projections were sourced from the World Bank on July of 2025.

Hong Kong HK: GDP: Growth: Household Final Consumption Expenditure per Capita data was reported at 4.757 % in 2017. This records an increase from the previous number of 1.356 % for 2016. Hong Kong HK: GDP: Growth: Household Final Consumption Expenditure per Capita data is updated yearly, averaging 5.222 % from Dec 1962 (Median) to 2017, with 56 observations. The data reached an all-time high of 15.046 % in 1977 and a record low of -6.282 % in 1998. Hong Kong HK: GDP: Growth: Household Final Consumption Expenditure per Capita data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Hong Kong SAR – Table HK.World Bank.WDI: Gross Domestic Product: Annual Growth Rate. Annual percentage growth of household final consumption expenditure per capita, which is calculated using household final consumption expenditure in constant 2010 prices and World Bank population estimates. Household final consumption expenditure (private consumption) is the market value of all goods and services, including durable products (such as cars, washing machines, and home computers), purchased by households. It excludes purchases of dwellings but includes imputed rent for owner-occupied dwellings. It also includes payments and fees to governments to obtain permits and licenses. Here, household consumption expenditure includes the expenditures of nonprofit institutions serving households, even when reported separately by the country.; ; World Bank national accounts data, and OECD National Accounts data files.; Weighted average;

This statistic shows the year-on-year percentage of change in government consumption expenditure in Hong Kong from 2013 to 2023. In 2023, government consumption expenditure growth in Hong Kong decreased by *** percent in comparison with the previous year.

According to a survey among Hong Kong consumers, around 44 percent of respondents stated that they would be more careful in spending after the coronavirus pandemic ends. Compared to parents, young respondents without kids were more relaxed and more willing to make non-essential purchases after the pandemic ends.

Key information about Hong Kong SAR (China) Public Consumption Expenditure

• Hong Kong SAR (China) Public Consumption Expenditure was reported at 13.045 USD bn in Dec 2024.
• This records an increase from the previous number of 12.958 USD bn for Sep 2024.
• Hong Kong SAR (China) Public Consumption Expenditure data is updated quarterly, averaging 3.850 USD bn from Mar 1973 to Dec 2024, with 208 observations.
• The data reached an all-time high of 13.858 USD bn in Mar 2024 and a record low of 93.469 USD mn in Jun 1973.
• Hong Kong SAR (China) Public Consumption Expenditure data remains active status in CEIC and is reported by CEIC Data.
• The data is categorized under World Trend Plus’s Global Economic Monitor – Table: Nominal GDP: Government Consumption Expenditure: USD: Quarterly.

Feature Articles on Finance - Consumption Expenditure of Hong Kong Residents Making Personal Travel to the Mainland of China

Hong Kong SNA08: GDP: Private Consumption Expenditure (PCE): Domestic Market data was reported at 1,890,450.000 HKD mn in 2017. This records an increase from the previous number of 1,758,822.000 HKD mn for 2016. Hong Kong SNA08: GDP: Private Consumption Expenditure (PCE): Domestic Market data is updated yearly, averaging 445,855.000 HKD mn from Dec 1966 (Median) to 2017, with 52 observations. The data reached an all-time high of 1,890,450.000 HKD mn in 2017 and a record low of 10,950.000 HKD mn in 1966. Hong Kong SNA08: GDP: Private Consumption Expenditure (PCE): Domestic Market data remains active status in CEIC and is reported by Census and Statistics Department. The data is categorized under Global Database’s Hong Kong SAR – Table HK.A125: SNA 2008: GDP: Private Consumption Expenditure: Current Price (Annual).

The Hong Kong credit card market, valued at approximately $113.41 million in 2025, is projected to experience robust growth, driven by increasing consumer spending, a rising preference for cashless transactions, and the expanding adoption of digital payment technologies. The market's Compound Annual Growth Rate (CAGR) of 8.68% from 2019 to 2024 suggests a consistently upward trajectory. Key market segments include general-purpose credit cards, which dominate market share due to their versatility, and specialty cards catering to specific spending habits like travel or groceries. The preference for digital wallets and mobile payment solutions is further fueling the market's expansion, along with the introduction of innovative credit card features such as rewards programs, cashback offers, and enhanced security measures. Major players like HSBC, Bank of China, and Standard Chartered Bank hold significant market share, with increasing competition from fintech companies and international players. Growth is likely to be further propelled by government initiatives promoting financial inclusion and the increasing penetration of smartphones in Hong Kong. The market's segmentation by card type (general purpose, specialty) and application (food & groceries, travel, etc.) indicates diverse opportunities for market players to strategically target specific consumer segments and expand their market reach. Geographic distribution likely mirrors Hong Kong's densely populated urban areas with higher per capita income and spending. The forecast period of 2025-2033 anticipates continued expansion, with the CAGR potentially exceeding the historical rate, particularly if government policies continue to support digitalization and financial infrastructure improvements. However, potential restraints include increasing regulatory scrutiny, potential economic downturns impacting consumer spending, and competition from alternative payment methods. Despite these challenges, the long-term outlook for the Hong Kong credit card market remains positive, driven by evolving consumer preferences and technological advancements in the payments landscape. Continuous innovation in card features, rewards programs, and security systems will be crucial for market leaders to maintain their competitive edge. Recent developments include: April 2023: Hang Seng Bank delivered an innovative green receivables financing solution for its long-term customer, Leo Paper Group, with export credit insurance provided by Hong Kong Export Credit Insurance Corporation that supports greater supply chain sustainability., April 2023: Hang Seng Bank Limited and Chubb entered an exclusive 15-year distribution agreement. Chubb will provide Hang Seng banking customers with a comprehensive range of personal and commercial general insurance products and solutions in Hong Kong.. Key drivers for this market are: Usage of Credit Card Give the Bonus and Reward Points. Potential restraints include: Usage of Credit Card Give the Bonus and Reward Points. Notable trends are: Increasing Number of Credit Card Transaction in Hong Kong.

Hong Kong HK: GDP: Real: Final Consumption Expenditure: Household data was reported at 1,741,116.000 HKD mn in 2017. This records an increase from the previous number of 1,649,664.000 HKD mn for 2016. Hong Kong HK: GDP: Real: Final Consumption Expenditure: Household data is updated yearly, averaging 575,423.000 HKD mn from Dec 1961 (Median) to 2017, with 57 observations. The data reached an all-time high of 1,741,116.000 HKD mn in 2017 and a record low of 55,145.000 HKD mn in 1961. Hong Kong HK: GDP: Real: Final Consumption Expenditure: Household data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Hong Kong SAR – Table HK.World Bank.WDI: Gross Domestic Product: Real. Household final consumption expenditure (formerly private consumption) is the market value of all goods and services, including durable products (such as cars, washing machines, and home computers), purchased by households. It excludes purchases of dwellings but includes imputed rent for owner-occupied dwellings. It also includes payments and fees to governments to obtain permits and licenses. Here, household consumption expenditure includes the expenditures of nonprofit institutions serving households, even when reported separately by the country. Data are in constant local currency.; ; World Bank national accounts data, and OECD National Accounts data files.; ;

A November 2020 survey conducted among consumers in Hong Kong revealed that more than ********** of respondents would likely spend less on DIY and home improvement projects in the following six months. Meanwhile, almost ***** out of five respondents in Hong Kong expected no changes in the next half year.

A survey conducted in November 2020 among consumers in Hong Kong revealed that more than one-in-five respondents would likely spend more on consumer electronics in the following six months. On the other hand, almost two-in-five respondents in Hong Kong expected no changes in the next half year.

This statistic shows the per capita personal consumption expenditure of Hong Kong from 2010 to 2015 with forecasts up to 2020, at current market prices. It was projected that the Hong Kong's per capita personal consumption expenditure would increase to around ***** thousand Hong Kong dollars by 2020.

A November 2020 survey revealed that almost half of the respondents in Hong Kong would likely lower their expenses for arts, culture, and sporting events in the following six months. Meanwhile, only around ** percent of respondents expected an increase in their event spending in the next half-year, lower than the global average of approximately ** percent.