Hong Kong residents expected to flock to bars, restaurants, cinemas over Christmas holiday, but spend less than during past years
- Catering industry leader predicts daily injection of HK$320 million, down 20 per cent on pre-Covid levels
- Some owners point to lack of tourists, locals heading overseas for vacation and wider economic downturn
Hongkongers flocked to restaurants, bars and other entertainment venues to celebrate the festive season on Christmas Eve, but spending is not expected to hit levels businesses enjoyed before the Covid-19 pandemic erupted.
Some owners pinned their pessimism on the lack of tourists, locals heading overseas for long-delayed vacations and the wider economic downturn.
Crowds began to build in the afternoon in main shopping areas such as Causeway Bay and Tsim Sha Tsui, with residents hoping to buy last-minute gifts or meet up with family and friends.
Simon Wong Ka-wo, president of the Hong Kong Federation of Restaurants and Related Trades, on Saturday said the catering industry was expected to rake in a total of HK$1.3 billion (US$166.5 million) – about HK$320 million a day – over the holiday period from Friday to Monday, 20 per cent down on pre-Covid-19 levels when earnings hit HK$420 million a day.
“Western restaurants and bars will become the biggest winners this festive season, with many of them having strong bookings, while Chinese restaurants have received less than satisfactory bookings at about 70 per cent,” he said.
Wong explained that, despite further easing of coronavirus curbs on Thursday, the catering industry would not register a particularly strong showing for the holiday for several reasons, such as the outflow of residents travelling overseas and the battered economy which had caused many people to tighten their purse strings.
