'Looking ahead, the Hong Kong economy is expected to show a recovery in 2023,' the government says.
, but recovering consumer spending on the mainland and a rebound in travel are expected to help the economy this year.
Barclays, HSBC, Hang Seng Bank, and DBS forecast Hong Kong’s GDP to grow between 2.1% and 6.5% in 2023. “The real impact of the still partially reopened border with mainland China will only be felt from the second quarter, meaning the pressure will prevail in the short run,” said Gary Ng, senior economist at Natixis Corporate and Investment Bank.
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