Hong Kong economy lost HK$2.8b over ‘golden week’, experts say


  • Economy
  • Wednesday, 09 Oct 2019

A couple of anti-government protesters hold hands during a demonstration in Wan Chai district in Hong Kong, China October 6, 2019. REUTERS/Athit Perawongmetha

HONG KONG’S economy lost at least HK$2.8bil (US$356mil) over the past six days, according to local analysts and business leaders, with visitor numbers in free-fall and the city’s rail network crippled by rampaging anti-government protesters.

Experts who spoke to the Post on Monday said the damage to certain business sectors – such as retail, dining, transport and hotels – could exceed HK$1.9 billion over the three-day holiday weekend.

Each source also predicted that Hong Kong’s economy would only get worse as the protest crisis grinds on.

The head of a local brokerage firm estimated that the MTR Corporation lost around HK$500 million over the weekend, citing the damage caused by protesters and the loss of ticket revenue.

Click here to read report:Hong Kong’s economy lost at least HK$2.8 billion

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protests , retail , dining , hotels , holiday weekend

   

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