, Hong Kong

Restaurant receipts down 25.9% to $21.2b in Q2

The declines narrowed from Q1 as social distancing measures eased.

The total value of receipts of Hong Kong’s restaurants dropped 25.9% YoY to $21.2b in Q2 2020, according to data from the Census and Statistics Department (C&SD). Total purchases by restaurants fell 24.7% to $7b over the same period.

After netting out the effect of price changes over the same period, the volume of total restaurant receipts slipped 26.9%. On a QoQ seasonally adjusted series, total receipts climbed 5% in value and 5.3% in volume.

A government spokesperson noted that the decline narrowed from the record fall registered in Q1, thanks to the abated local epidemic situation and consequential easing of social distancing measures in May and June.

In the first half of 2020, total restaurant receipts dropped by 28.7% YoY in value and 29.8% in volume.

Bars recorded the sharpest drop in total receipts by 46.5% in value and 48.4%. It is followed by Chinese restaurants, with slumps of 31.7% in value and 32.7% in volume. Non-Chinese restaurants, fast food shops, and miscellaneous eating and drinking places all saw declines in value and volume ranging between 19.1% and 22.6%.

The spokesperson further pointed out that the business environment of the food and beverage sector is expected to be highly challenging in the near term as the social distancing measures have been tightened again following a surge in local infection cases since July. 

Join Hong Kong Business community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Top News

Unemployment rate rises to 5.4% from February to April
The total number of unemployed people stands at 206,100.   The unemployment rate rose by 0.4 percentage points to 5.4%  from February to April, when compared to the January to March period.    Based on the data from the Census & Statistics Department (C&SD), the total number of unemployed people from February to April was 206,100, an increase of 17,600 from the preceding three-month period.   Meanwhile, the number of unemployed rose by around 25,000 to 142,000, translating to a rate of 3.8%.   With the increase in the number of jobless and underemployed individuals, total employment dropped to 3,559,200, whilst the labour force fell to 3,765,300.   The deterioration of Hong Kong’s labour market however should see an improvement in the coming months, according to Secretary for Labour & Welfare, Dr Law Chi-kwong.   The receding local epidemic situation and progressive relaxation of social distancing measures, the new round of Consumption Voucher Scheme, and Other relief measures including the 2022 Employment Support Scheme should help drive improvement in the employment sentiment, said the C&SD.  
Economy