Reviving Hong Kong’s Restaurant Business: The Impression of Large Pandas and Financial Challenges

【United Media Report】 One other wave of restaurant closures has not too long ago occurred in Hong Kong. Hong Kong Catering Affiliation Chairman Wong Ka-he admitted that poor market circumstances within the first half of the 12 months contributed to the value rise. The variety of residents who’ve been going to the North to eat since April has silenced the restaurant trade. Nonetheless, Wong remains to be optimistic and says that with the federal government launching quite a few occasions, the go to of nationwide workforce athletes to Hong Kong will trigger a increase, as well as, the large panda “Ying Ying” has given start to twins, and a brand new big panda will arrive in Hong Kong subsequent month: “There will probably be sooner or later. With six pandas, Hong Kong may actually change into the panda capital… Haha, vice capital.” He believes that the federal government and trade will promote the panda financial system, thus driving the event of Hong Kong’s financial system. “I imagine there will probably be some panda meals which might be but to be determined. ‘

In an interview with a New City program this morning, Wong Ka-wah mentioned that the market has not been good within the first half of this 12 months. Since April, many voters have gone to the north to eat the affect, which has made the general enterprise of the restaurant sector quiet.”

Huang Jiahe (archive picture)

The Olympics have introduced an Indian summer time to the trade. Not too long ago, greater than 300 eating places have closed their doorways each month.

Beneath the increase of the Paris Olympics, Wong mentioned the trade benefited from the published impact of the video games, which introduced some momentum to the trade’s enterprise within the early phases. Enterprise in lots of buying malls elevated because of the improve in crowds. However he mentioned the scenario calmed down after the Olympic impact ended: “I’ve been to some areas and noticed some conditions, and many of the nighttime enterprise is basically worse.”

Talking concerning the wave of restaurant closures, Huang Jiahe mentioned that greater than 300 eating places have closed and greater than 100 have opened each month not too long ago. He described the scenario as severe, however he believes that when a hen dies and a hen crows, giant teams will select to reopen even in areas with cheaper rents.

Nonetheless, Huang Jiahe is assured concerning the prospects, saying that the large panda “Yingying” has given start to twins earlier than, and two new big pandas donated by the central authorities will arrive in Hong Kong subsequent month. The federal government and trade will make each effort to advertise the panda financial system. Huang Jiahe even offered ads on this system, saying that the producer would collaborate with Golden Tea King to launch a restricted version milk tea “Panda Version”, which might be distributed to the general public freed from cost.

Hong Kong to Open Mainland Restaurant Wong Ka-woo: Goals to Construct Platform to Go International

Talking concerning the opening of Chinese language restaurant branches in Hong Kong, Wong mentioned a lot of them are medium-sized and huge chain teams, which might create a brand new environment for the Hong Kong trade but in addition create competitors. He mentioned Chinese language manufacturers purpose to construct a platform to make a reputation for themselves and go worldwide via promotion in Hong Kong: “Not essentially from a revenue perspective, it is simply promoting.”

As well as, Wong Ka-woo mentioned he welcomed the proposal of some political events that the authorities ought to waive alcohol taxes, believing that this may be useful for the gross sales of the liquor and alcohol industries. He careworn that Hong Kong has occupied a distinguished place within the worldwide market after the wine tax exemption. Wong Ka-woo additionally identified that through the latest Meals Expo, many mainland liquor merchants got here to Hong Kong to discover the market.