Re:The Siege of Carrie Lam
by throwaway1997 on Friday December 06, 2019 @09:51AM
(#21722200)
HK has been over-reliant on these businesses to provide employment for a long time. Most of the F&B outfits that are closing are fly by night outfits which would only work when everyone in CBD has more money than sense. It will be a good thing if this leads to us diversifying our economy a bit more.
The number of restaurants and bars I see closing on an almost daily basis is getting sad. My friends in the F&B industry here confirm that they're hurting. Bad.
Hospitality is hit even harder with hotels at 30% occupancy and many having to offer rates at 50% or higher discounts, and having to lay off staff.