Hong Kong's tourism is in trouble as months-long demonstrations take its toll on the economy
A man walks past an anti-extradition bill protester as he tries to pick up a tear gas canister at Tsim Sha Tsui after a demonstration in Hong Kong, China August 10, 2019
"The situation this time is more severe," she said. "In other words, the economic recovery will take a very long time." "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."I think the situation is getting more and more serious," Jason Wong, chairman of the Travel Industry Council of Hong Kong, said.
A Hong Kong Tourism Board spokesperson said that the number of forward bookings in August and September has "dropped significantly," suggesting the economic toll will linger throughout the summer season. And even Disneyland Hong Kong has been hit, with CEO Bob Iger telling reporters: "We have seen an impact from the protests."The retail sector has also been hit by the drop in arriving visitors hunting for bargains, shops often forced to shutter during the sometimes daily protests.
Preliminary data suggests the second quarter fared no better, and while the government still hopes for 2-3 percent growth this year, predictions from major banks are more pessimistic.
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