1、THE ECONOMIC CONTRIBUTION OF INTERNATIONAL SPIRITS INHONG KONGA REPORT FOR THE EUROPEAN CHAMBER OF COMMERCE IN HONG KONG JUNE 20241The Economic Contribution of International Spirits in Hong KongTABLE OF CONTENTSExecutive Summary1.Introduction2.The Alcohol Market in Hong Kong3.The Benefits of Premium

2、isation3.1 Premiumisation in Hong Kong3.2 Economic Benefits of Premiumisation3.3 Business and Employment Opportunities3.4 Supporting Government Objectives4.The Benefits of Specific Taxes4.1 Alcohol Taxation in Hong Kong4.2 Reforming Hong Kongs Excise Duties on Spirits Could Yield Substantial Economi

3、c Benefits5.International Spirits Economic Contribution5.1 The Economic Contribution of International Spirits in Hong Kong5.2 The Impact of Tax Reform on the Economic Contribution of Spirits6.Conclusion291115161721212528323536424523The Economic Contribution of International Spirits in Hong KongThe E

4、conomic Contribution of International Spirits in Hong KongThe Hong Kong alcohol market accounts for billions of dollars of revenue flowing into the hospitality,wholesale,and retail sectors annually.Beer accounts for close to four-fifths of alcohol consumption in the city by volume,compared to only a

5、round 5.4%for spirits.But the significantly higher value of spirits meant the segment accounted for 16.1%of Hong Kongs total alcohol sales revenue in 2022.This valuable segment is predominantly premium-priced international imports.THE LOCAL BENEFITS OF PREMIUMISATION Since the full reopening of its

6、borders in 2023,the Hong Kong government has sought to capitalise on the influx of international visitors and the return of consumer spending to stimulate the citys economic recovery,boosting spending in the hospitality and retail sectors.One key element of that strategy is ensuring a high quality a