, Hong Kong

Tourist arrivals plunge 40% in August in sharpest decline since SARS crisis

The social unrest which blocked airport and roads spooked tourists.

Visitor arrivals in Hong Kong continued to shrink, plunging by nearly 40% in August, Financial Secretary Paul Chan wrote in his blog post. This represents the biggest YoY decline in numbers since May 2003 when the SARS outbreak hit the city and arrivals sank 70%. 

“Social issues in the past few months, especially the continued violent clashes and blockading of airport and roads, have seriously impacted Hong Kong’s international image as a safe city,” Chan said in his post, which was written in traditional Chinese. 

Also read: Economic conditions in H1 weakest in a decade: government economist

The city’s tourism, retail and hotel industries have been particularly hard hit, Chan said, with occupancy rates of hotels in some districts dropping by more than half and room rates decreasing 40% to 70%. 

Join Hong Kong Business community

Retail sales by value dropped 11.4% in July, the first full month affected by the protests, while sentiment among small businesses has hit record lows. Hong Kong’s economy overall contracted 0.4% in Q2, raising the prospect of a technical recession.

Here's more from Bloomberg

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

Commercial floors at 382 Lockhart Road up for sale
The indicative price is set at $398M, or approximately $8,405 per square foot.
Hong Kong logistics rental softens in H1
Tenants’ adjustment and tariff risks dragged rental prices and activities.
HKMA fines three banks for violating anti-money laundering policies
HKMA ordered fines and formulation of remedial measures.The Hong Kong Monetary Authority (HKMA) has conducted disciplinary action against Indian Overseas Bank, Hong Kong Branch (IOBHK), Bank of Communications (Hong Kong) Limited (BCOM(HK)), and Bank of Communications Co., Ltd., Hong Kong Branch (BCOM) for violating the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (Chapter 615 of the Laws of Hong Kong) (AMLO) on 22 July.