Hong Kong: The Renewal of the Hong Kong Spirits Market
In 2022, Hong Kong was the world’s tenth largest spirits importer, with global imports recovering 7 percent year-on-year and valued at $502 million. From 2020-2021, Hong Kong’s imports and domestic sales of spirits were seriously hampered under the COVID-19 pandemic, as most restaurants, pubs, and bars were closed due to stringent dining, social distancing, and travel restrictions. However, as the local pandemic situation has improved, Hong Kong has lifted its dining and travel restrictions. As a result, Hong Kong is set to welcome the return of multi-million international visitors and local consumers to enjoy fine food and spirits. Annual domestic spirits for 2022 are expected to recover to $436 million, an improvement 18 percent over sales in 2021. Domestic sales are expected to continue recovering and grow to $503 million by 2026.