Hong Kong loves shopping, a hobby/sport/vocation that usually comes along with a need for at least one credit card.
According to the Monetary Authority, there were 18.8 million credit cards (!) in circulation in the last quarter of 2014, up 3.8 percent from the same period last year.
In those three months there were 127.8 million credit card transactions, 4.1 percent more than last year.
Those transactions amounted to a crazy HKD151.1 billion, up 6.4 percent from last year.
There was also an increase in debit card transactions, for those not willing to borrow money to buy crap.
Retail transactions and bill payments by debit card increased nine percent from last year.
Let’s just hope everyone’s paying their bills…
Photo: Sean MacEntee via Flickr
