Hong Kong has fallen into recession as its economy contracted for a second straight quarter after more than four months of protests. The once-common lines of shoppers from mainland China outside luxury stores are gone.
HONG KONG — Steps from Hong Kong’s main tourist strip, Ashfaqur Rahman’s tailor shop usually is a mainstay for tourists dropping in to peruse neatly arranged rolls of fabric and get measured for custom-made suits.Business has nosedived since anti-government protests began in early June in the Asian financial center.
His shop is tucked away in a passage off Nathan Road in the Tsim Sha Tsui district, which teems with luxury hotels and upscale jewelry and fashion boutiques set against the stunning backdrop of Victoria Harbor. Restaurant managers, watch shop owners and jewelry salespeople across the district echoed the sentiment. In jeweler Tiffany’s massive showroom, there were at least 10 salespeople and no customers on a recent afternoon.
Visitor numbers fell by 50% in the first half of October, usually a lucrative time because of a weeklong Chinese holiday. Retail sales fell by a quarter in August, the steepest annual drop on record. Free spending mainland Chinese used to arrive on the weekends to buy the Bulova, Seiko and Movado watches he stocks.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Hong Kong excludes activist Joshua Wong from upcoming district pollHong Kong authorities disqualified prominent pro-democracy activist Joshua Wong ...
Lire la suite »
Hong Kong to enter recession after protests damage retail, tourism - Business InsiderHong Kong to enter recession after protests destroyed retailers and brought the city's tourist industry to its knees
Lire la suite »
Hong Kong bars activist Joshua Wong from district pollHong Kong disqualifies pro-democracy activist Joshua Wong from taking part in upcoming district elections, a move likely to spark more discord in a city hit by five months of anti-government protests. More here:
Lire la suite »
Must Read: Stella McCartney Remains Fashion's Sustainability Trailblazer, Black Clothing Banned in Hong KongOlivia Kim teams up with Nordstrom x nike for apparel collaboration:
Lire la suite »
Activist barred from election as Hong Kong leader warns of recessionPro-democracy activist Joshua Wong is barred from a local election as Hong Kong leader Carrie Lam warns that violent protests have pushed the city to the brink of recession.
Lire la suite »
Hong Kong pro-democracy activist not allowed to run for local electionsHong Kong pro-democracy activist and former student leader Joshua Wong barred from running in upcoming local election over his political stance.
Lire la suite »