Editorial | Lessons to learn from Hong Kong exodus at Easter
Hong Kong businesses must think of better ways to attract customers if they are to survive what appears to be an intensifying economic restructuring
Hongkongers going north for shopping and entertainment during weekends has become a trend that cannot be easily reversed.
It is no surprise that the sluggish local economy was dealt another blow by residents who ventured further afield in the biggest post-pandemic Easter exodus.
Affected businesses must think of better ways to attract customers if they are to survive what appears to be an intensifying cross-border economic restructuring.
Various sectors felt the heat as their commercial returns turned out to be less than forecast. For instance, a catering association representative said there was a drop of 30 per cent in business in general, and up to 50 per cent for some high-end restaurants.
The decline in business comes as cross-border travel continues to rise following the prolonged Covid-19 pandemic.
More than 2.3 million trips were recorded over the Easter holiday, up from 1.76 million last year. But there were far fewer mainland visitors over the long weekend, because Easter is not a holiday across the border.