Visitor numbers plummet 50pcBusiness | Tereza Cai 28 Nov 2019
The number of visitors to Hong Kong fell 50 percent in the first half of November compared to a year ago, government official Bernard Chan Pak-li told the Legislative Council.
Chan said the local tourism industry was hit by the Sino-US trade war and the ongoing protests. The number of visitor arrivals has gone from growth to decline since July and saw a more than 40 percent fall in October.
Overall visitor arrivals in the third quarter fell 2 percent from a year ago to 11.9 million. Hotel occupancy rates fell from 91 percent in the third quarter last year to 72 percent in the third quarter this year, while the average room price fell 16.2 percent year-on-year.
Meanwhile, Hong Kong businesses are predicting a bleak outlook for the next 12 months, according to the Hong Kong General Chamber of Commerce's annual Business Prospects Survey.
37 percent of respondents said they expect business turnover to continue falling, while 34 percent predicted business would be flat. Only 13 percent expected to see an increase.
84 percent of respondents said their business had been affected since the start of the protests in June until October, wherein 29 percent significantly, 30 percent moderately, 25 percent slightly affected.