United Parcel Service's Hong Kong export volume has soared to 2007 levels, indicating that Western consumers have regained their purchasing power, reports The South China Morning Post.
The Post says that the number of flights operated by UPS between Hong Kong and the US has increased to 21 per week, compared with 12 to 15 in the first half, while weekly flights to Europe have gone from six to nine.
"Our export volume from Hong Kong has returned to the level of 2007, if not exceeded it," Leung Kwok-kei, UPS general manager for Hong Kong and Macau, told the Post.
The Post says that Lueng expects Western shoppers to continue to purchase less expensive electronic products during the holidays, which will benefit air cargo more than the sea-freight market.
Meanwhile, UPS rival FedEx Corp. says that its second-quarter profit would exceed forecasts as international and ground shipments increased, reveals the Post.