Diamonds remains the most popular choice for gemstones, followed by pearl and ruby, according to a survey commissioned by the Hong Kong Trade Development Council (HKTDC) at the recently concluded Hong Kong International Diamond, Gem & Pearl Show and the Hong Kong International Jewellery Show.
The HKTDC interviewed more than 1,200 buyers and exhibitors about their views on market prospects, products and industry trends. The survey found that nearly half of the respondents expect overall sales this year to be steady, while 15% expect an increase, and 38% predict a decrease in sales.
Regarding expectations for retail prices, 64% of respondents expect prices to remain steady. Apart from Hong Kong, respondents are most optimistic about the Chinese mainland market, followed by North America and Western Europe.
The survey also charted the industry’s views on business operation this year. Here, 43% of respondents expect that the major challenge will come from increases in operating costs, followed by sluggish mature markets (40%) and price fluctuations of raw materials (32%).
According to the HKTDC, the two concurrent fairs featured more than 4,380 exhibitors from 54 countries and regions, and attracted over 80,000 buyers from 147 countries and regions, up 5.4% over last year. More than 31,000 buyers visited the Diamond, Gem & Pearl Show at AsiaWorld-Expo (1-5 March).
“Despite global economic challenges, the two shows continued to attract local and overseas buyers. This demonstrates the international significance of the two shows, which form the world’s largest jewelry marketplace, reinforcing Hong Kong’s position as a proven global sourcing hub for the industry,” explains HKTDC Deputy Executive Director Benjamin Chau.
