Hong Kong restaurant sales fall 10% over Christmas as cross-border trips hit 1.2 million
While restaurants struggle to attract diners, one hotel group says its properties recorded 90 per cent occupancy
Hong Kong’s food and drink 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.
“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, is that residents started leaving the city from last Friday. With them leaving in droves, of course that’d affect the industry. Another reason is the lower spending desire and power.”
Immigration figures showed that 989,920 cross-border trips were made as of 9pm on Boxing Day. Among them, nearly 420,000 were made by Hong Kong residents leaving the city.