![]() ![]() “I think the situation is getting more and more serious,” Jason Wong, chairman of the Travel Industry Council of Hong Kong, told Agence France-Presse. The city’s tourism industry says it feels under siege. ![]() “In recent months, what has happened in Hong Kong has indeed put local people’s livelihoods as well as the economy in a worrying, or even dangerous situation,” warned Edward Yau, Hong Kong’s secretary for commerce and economic development. Group tour bookings from the short-haul market have plunged up to 50%. The figures are stark: hotel occupancy rates are down “double-digit” percentages, as were visitor arrivals in July. (READ: Hong Kong’s extradition law jolts business community) The private sector, in particular the tourism industry, has begun counting the cost of more than two months of demonstrations that erupted in opposition to a bill allowing extraditions to China but have morphed into a broader pro-democracy movement. “In other words, the economic recovery will take a very long time.” “The situation this time is more severe,” she said. HONG KONG – Empty hotel rooms, struggling shops, and even disruption at Disneyland: months of protests in Hong Kong have taken a major toll on the city’s economy, with no end in sight.Ĭity leader Carrie Lam has warned that the international financial hub is facing an economic crisis worse than either the 2003 SARS outbreak that paralyzed Hong Kong or the 2008 financial crisis. ![]()
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