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Business receipts of all service industries increased in value terms in the first quarter compared with a year earlier. Among them, financing-industry business receipts grew 34.2% and those for banking and real estate industries rose 27.3% and 24.8%.
The Census & Statistics Department said the increase for the financing (except banking) industry was mainly fuelled by the buoyant local stock market, while that of the banking industry was mainly attributable to growth of non-interest income.
As for the increase for the real estate industry, it was mainly due to the low comparison base recorded in the same quarter last year.
Other service industries showing business receipt increases included the storage (+19.7%), hotels (+16%), insurance (+15.7%), business services (+13.5%) and restaurants (+11.8%).
Tourism receipts up
Analysed by service domain, business receipts of the tourism, convention and exhibition services domain rose 12.6% in the first quarter over a year earlier, attributable to the sustained growth in inbound tourism, while that of the computer and information services domain grew 3.7%.
Comparing the quarter with the previous one, the number of service industries that recorded increases in business receipts was slightly more than those that recorded decreases.
Larger increases were recorded in the real estate (+10.6%) industry, while larger decreases were recorded in the hotels (-12%) and import and export trade (‑11.6%) industries.
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