Hong Kong's Liquor Tax Cut Inspires Interest in Spirits and Tequila at the Wine Fair
SCMP Analysis: Boosting Spirits with Tax Cuts
Hong Kong's recent tax cut on liquor has generated more interest in high-end alcohol products, according to merchants at the city’s annual wine and spirits expo. The Hong Kong International Wine and Spirits Fair launched on Thursday, gathering over 600 exhibitors from 20 countries.
Surge in Global Interest
John Rhodes, director of Jon Dory, emphasized that this year's event is notably busier. He remarked, “Consumers from Indonesia and Singapore are asking about our whiskeys and more.” Merchants are reporting a growing appetite for luxury spirits.
Encouraged Showcase from Tax Policy
Gareth McAlister from Ahascragh Distillery noted that the liquor tax rates cut, implemented by Chief Executive John Lee Ka-chiu, has prompted a broader selection of spirits at the fair. The tax cut reduced the tax from 100% to 10% on products over HK$200. McAlister stated, “Were it not for the tax cut, we wouldn’t be presenting these high-end whiskeys and gins.”
Diverse Offerings at the Fair
The event features a range of spirits from Guizhou Moutai to whiskeys from Ireland and tequilas from Mexico. Tomy Wu Kwong-yi from MyiCellar expressed optimism about promoting unique Chinese baijiu, stating, “There are many quality options beyond Mao-tai.”
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.