XN000022-1987-09-07 — Page 7

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MONDAY, SEPTEMBER 7, 1987

POTENTIAL OF RETAIL SALES GROWTH OUTLINED

RETAIL CENTRE IN ASIA EMPLOYING 167,000 PEOPLE,

HONG KONG RANKS SECOND AS THE LARGEST COMPRISING SOME 50,000 ESTABLISHMENTS AND THE FINANCIAL SECRETARY, MR PIERS JACOBS, SAID TODAY (MONDAY).

ΤΟ

RETAILERS SOME

$73

SPEAKING AT THE OPENING CEREMONY OF THE THIRD ASIAN

AMOUNTED CONVENTION, MR JACOBS SAID TOTAL RETAIL SALES BILLION IN 1985.

"THIS IS A

CONSIDERABLE ACHIEVEMENT, BUT WITH THE AFFLUENCE OF THE LOCAL POPULATION, I STILL SEE POTENTIAL FOR HE SAID.

GROWING GROWTH,

WORKERS.

THE BE

NOTEWORTHY THAT MR JACOBS SAID IT WAS

THE MAJORITY OF THE RETAIL ESTABLISHMENTS IN HONG KONG HIRE FEWER THAN FIVE

THESE ESTABLISHMENTS ENABLED THEM ΤΟ RELATIVELY SMALL SIZE OF HIGHLY ADAPTABLE TO CHANGES IN TRENDS AND TASTES.

"MANY OF OUR SHOPPERS ARE TOURISTS, AND GIVEN THE OF TOURISM TO HONG KONG, OUR RETAIL ESTABLISHMENTS HAVE TO WITH INTERNATIONAL DEMAND, HE NOTED.

SIGNIFICANCE KEEP PACE

IN

"IN 1986, VISITOR ARRIVALS TO HONG KONG TOTALLED 3.7 MILLION. AND THEY SPENT ON AVERAGE SOME $4,600 PER PERSON DURING THEIR STAY

ABOUT 52 PER CENT HONG KONG WITH SHOPPING ACCOUNTING FOR

OF EACH

PERSON'S EXPENDITURE.'

"SPEAKING ON TRADE, MR JACOBS POINTED OUT THAT PEOPLE FROM A MOST AGREEABLE PLACE IN

MANY PARTS OF THE WORLD FOUND HONG KONG WHICH TO DO BUSINESS.

IS

ALREADY HOME TO THE COMPANIES. I BELIEVE THE IMPORTANCE WITH IN THIS

REGION,"

HE

"AS THE GATEWAY TO CHINA, HONG KONG REGIONAL HEADQUARTERS OF MANY MULTI-NATIONAL

HONG THAT

WILL KONG

CONTINUE ΤΟ GAIN IN PLACE DEVELOPMENT OF TRADE THAT WE SEE TAKING

SAID.

**THERE IS A GREAT DEAL OF BUSINESS TO BE DONE, AND I AM

CAN MAKE IN THAT YOU WILL RECOGNISE THE CONTRIBUTION HONG KONG ACHIEVEMENT OF YOUR CORPORATE OBJECTIVES," HE ADDED.

t

177

SURE

THE