香港最新统计数据反映消费市场面临多重压力。本地居民的境内消费2025年为港币1989亿元，较2018年微跌1%[1]，而访港旅客消费更是急挫44%[1]。与此同时，港人的境外消费开支却大幅增长10%[1]，形成消费外流的局面。
访港旅客数量同样呈现下滑趋势。根据立法会数据，2025年访港旅客数量接近5000万人次，比2018年高峰少23%[1]。经济学者李兆波指出，高租金及高人工成本削弱了市民留港消费的意愿[1]，是导致本地消费动力不足的关键因素。
尽管整体消费承压，部分零售领域仍现增长。上月本地零售业总销货额为315亿元，较去年同期上升4.6%[1]；今年第2季餐饮店总收益为272亿元，微升0.4%[1]。
Hong Kong's consumer market faces mounting headwinds as both resident and visitor spending patterns weaken significantly. Local residents' domestic consumption fell marginally by 1% to HKD 198.9 billion in 2025 compared to 2018 levels, while tourist expenditure plummeted by 44% during the same period [1]. The number of visitors to Hong Kong has also contracted to approximately 50 million arrivals annually, representing a 23% decrease from the 2018 peak [1].
The divergence in consumer behavior reflects structural challenges facing the local economy. Economist Lee Siu-bo attributed the weakening appetite for in-Hong Kong consumption to high rental costs and elevated labor expenses [1]. This pricing pressure has prompted Hong Kong residents to redirect spending abroad, with overseas consumption expenditure surging 10% [1]. Meanwhile, recent retail data presents a mixed picture: total retail sales in the most recent month reached HKD 31.5 billion, up 4.6% year-on-year [1], while the food and beverage sector recorded combined revenues of HKD 27.2 billion in the second quarter of this year, showing only marginal growth of 0.4% [1].