Hong Kong’s food and beverage sector recorded a 10 per cent drop in business year on year over the Christmas period, an industry leader said, as 1.2 million trips were made through the city’s borders on the first day of the long holiday.
But the city’s hospitality sector appeared to fare better, with some hotels recording more than 90 per cent occupancy and a slight rise in room tariffs.
Simon Wong Ka-wo, president of the Hong Kong Federation of Restaurants and Related Trades, told a radio show on Friday that the city’s dining establishments struggled to attract customers because many locals had travelled across the border for the holidays.
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“My estimate would be that there was about a 10 per cent decrease over the Christmas period, but if we look at just December 24 and 25, it’s more than 10 per cent,” Wong said, referring to the period starting from December 19.
“The main reason, I believe, was that residents started leaving the city since last Friday. With them leaving in droves, of course that’d affect the industry. Another reason is the lowered spending desire and power.”
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Last year 1,162,136 cross-border trips were made over on Christmas Day and the number this year rose to 1,252,964.