Hong Kong people expect a lackluster economy next year, making them wary about Christmas-related spending.
Four in 10 are planning to spend no more than they did last year, the Hong Kong Economic Journal reports, citing a survey by the Hong Kong Research Association.
More than half of the respondents think the economy is worse this year than last year, according to researcher Ng Wai-man.
Nearly four in five are willing to spend HK$2,000 on holiday shopping against 5 percent who are planning to splurge HK$5,000 or more.
Meanwhile, seven in 10 plan to spend the Christmas holiday in Hong Kong, up two percentage points from last year.
Slightly more than one in 10 plan to leave Hong Kong, with mainland China the top destination for 30 percent of holiday travelers, down 9 percent from last year.
The survey interviewed 1,084 respondents by phone in early December.
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