Press Release

Hong Kong, 15 October 2024 – Octopus Cards Limited (Octopus) today announced that the surge in mainland visitors during the National Day "Golden Week" has led to a significant increase in the use of the mobile version of Octopus for tourists, along with record retail spending, reinforcing its position as the preferred payment experience for visitors to Hong Kong.

Golden Week Boost

During the Golden Week holiday period, from 1 to 7 October, Octopus recorded $100 million transaction value. In total, over 10 million Octopus cards, mobile and physical, were used by inbound travelers, including visitors from the mainland since the beginning of the year.

The number of active users of the Tourist Mobile Octopus during this period tripled compared to the same period last year, with retail spending soaring to four times year-on-year. Additionally, retail spending increased by nearly 30% among Tourist Mobile Octopus users, highlighting the convenience mobile Octopus. Beyond public transport, visitors widely used the app for dining, supermarkets, and convenience stores.

In addition, spending patterns among mainland visitors are evolving. Hong Kong now offers more "experiential" and "immersive" travel options. On top of traditional chain outlets, many unique local eateries have gained popularity, accounting for nearly 40% of total spending in the food sector.

Hong Kongers' Love of Travel

During the National Day period, Hong Kong residents also travelled overseas and northbound, which further boosted the use of Octopus UnionPay QR code by 50%. Launched in 2022, the Octopus UnionPay Card enables convenient payment at 47 countries and regions. Globally, there are over 34 million locations to pay without needing to link a mainland mobile number or bank account. The service is also available in Southeast Asia, Japan, and South Korea, making it easy for Hongkongers who love to travel.

Launched earlier this year, there are now more than 60,000 Octopus-China T-Union cards with accumulated usage of $40 million. The card allows consumers to top up in Hong Kong Dollar and take public transit in more than 336 cities nationwide. In Hong Kong, the card can be used like any regular Octopus card. The top ten cities with the most usage in descending order are: Shenzhen, Guangzhou, Beijing, Shanghai, Chang’an, Zhuhai, Hangzhou, Dongguan, Chegdu and Xiao Xiang.

Successful Launch of the First "8.28 JoyYou Fest"

With the full rollout of the $2 Scheme, Octopus launched the inaugural "8.28 JoyYou Fest" on 28 August. During the promotional period, between 28 August to 10 September, nearly 2 million JoyYou cardholders used their cards for travel and spending, resulting in total spending exceeding $800 million, with highest card spending reached $20,000 in that two-week period.

The campaign featured participation from over 64 brands, offering exclusive discounts across more than 3,500 locations in Hong Kong, and with cashback from Octopus worth $8.28 million. Retail spending and transactions at participating merchants increased by 50%, with particularly strong interest in offers from fast food outlets, snack shops, and home goods stores, indicating a keen interest in dining and everyday essentials among cardholders.

Additionally, the campaign played a vital role in stimulating the local economy, with high-value transactions from Octopus cardholders rising by more than 80% during the promotion. Many merchants reported a warm reception for the campaign's offers from loyal customers, receiving positive feedback and appreciation for exclusive deals on food.

Octopus aims to establish the "8.28 JoyYou Fest" as an annual celebration, bringing joy and vitality to the entire city of Hong Kong while boosting the retail economy.