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by goblin89 2390 days ago
Economically, a lot of businesses profit from mainland Chinese tourists (some mainly thanks to them). Reduced travel in light of this year’s events has caused a serious drop in sales of luxury products, for example.

Yesterday I talked about just that with an HKer who works in marketing. Democracy supporters acknowledge that this trend is hurting the economy, though on bright side they welcome businesses starting to target local long-term customers more.
2 comments
kenneth 2390 days ago
Business is bad.

The number of restaurants and bars I see closing on an almost daily basis is getting sad. My friends in the F&B industry here confirm that they're hurting. Bad.

Hospitality is hit even harder with hotels at 30% occupancy and many having to offer rates at 50% or higher discounts, and having to lay off staff.

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throwaway1997 2390 days ago
HK has been over-reliant on these businesses to provide employment for a long time. Most of the F&B outfits that are closing are fly by night outfits which would only work when everyone in CBD has more money than sense. It will be a good thing if this leads to us diversifying our economy a bit more.
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nailer 2389 days ago
> Reduced travel in light of this year’s events has caused a serious drop in sales of luxury products, for example.

If the CCP had let HK be autonomous as they agreed this wouldn't have happened.

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