The Hong Kong International Wine and Spirits Fair (HKIWSF) will be held from November 4th- 6th, 2009. The wine market in Asia is growing with increasing affluence. It is estimated that the wine consumption in Asia will be doubled and increase to US$27 billion by 2017. The Chinese mainland and HK, currently constituting 60% of Asia’s wine consumption, will become the world’s eighth largest market.Hong Kong is set to become a wine trading and distribution centre of Asia. The wine market in Hong Kong is growing rapidly. On February 27, 2008, the Hong Kong Government (HKG) abolished its 40% excise duty on wine. The market has responded favorably to the wine duty exemption. From March to December 2008, the total value of imported wine reached US$335 million, representing an increase of 82% over the same period in 2007.
The Hong Kong Government is committed to developing Hong Kong as a regional hub for wine distribution and trading. Opportunities for U.S. companies include:
- Wine trading
- Wine related tourism
- Training and education on wine appreciation and culture
- Technology and services related to transportation, storage and display of wine
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