Hong Kong’s retail sales declined by 7.3% YoY in November, the ninth consecutive monthly decline, dropping to HK$31.7 billion ($4.08 billion). According to the Hong Kong Tourism Board, the number of inbound tourists in November reached 3.57 million, an 8.5% increase compared to the same period last year. Despite the rise in tourist numbers, sales still declined due to reduced spending by shoppers and fewer mainland visitors staying overnight in Hong Kong.