Tourists Closing Their Wallets” The style of tourists coming to Hong Kong is clearly changing. The “explosive shopping” (bakugai) scenes seen in Mong Kok or Tsim Sha Tsui just a few years ago have completely faded. Instead, what stands out are light-footed travelers walking the streets with smartphones in hand. Their objective has shifted from “buying things” to “where and how to spend their time.”
📱 From “Buying” to “Taking Photos” Touring shops trending on social media, taking photos at photogenic cafes, and sharing night views and street food with friends—. For them, the “value” of travel seems to lie in “recording experiences and gaining empathy” rather than in consumption.
💬 In fact, according to data from the Hong Kong Tourism Board, the per capita spending of inbound tourists in the first half of 2024 was about -28% compared to pre-COVID levels. Looking at the breakdown, the drop in shopping expenditure is the largest, while food and beverage-related spending has slightly increased. This clearly indicates a shift from “goods consumption to experiential consumption.”
🏬 Voices from the front lines back this up. A store manager at a shopping mall notes, “The people have returned, but their hands aren’t moving [to buy].” There are many people walking down the street, but it doesn’t translate into purchases. This sense of “missing each other” can be heard all over the city.
💡 “They Come, But They Don’t Buy” Hong Kong’s commercial structure might not have caught up with this gap yet. The “quantity” of tourism has returned, but the “quality” has changed. This means our marketing thinking has not yet been updated to match this shift. As tourism transitions from “purchasing activities” to “cultural experiences,” the next question is not “what to sell” but “what kind of time we can provide.” The tourists who have closed their wallets may actually be presenting Hong Kong with a “new form of consumption.” (To be continued)
* Related Articles: Hong Kong Tourism Bhttps://www.discoverhongkong.com/eng/about-hktb/annual-report/annual-report-20242025/tourism-performance.html
* You might also be interested in our past articles: Why Do Buttons Get Misaligned? (Part 2) — The Seeds of Marketing #62