Golden Week’s big spenders desert Hong Kong
HONG KONG – In yet another sign that times are tough out there for the tourism industry, Hong Kong’s hoteliers and retailers are counting the cost after the so-called Golden Week holiday proved to be anything but golden for them.
The Standard reports that although more than two million visitors entered Hong Kong during the weeklong National Day holiday, big spenders went missing, with retailers complaining of a 30 percent drop in luxury goods sales.
The slump led industry figures to call on the government to rethink its tourism strategy.
Luxury goods such as jewelry and Chinese health products have lost their sparkle for the formerly free-spending mainland shoppers, according to Hong Kong and Kowloon General Merchandise Merchants’ Association president Lam Chun-wing.
Compared with a year ago, sales had dropped 30 percent, he said. To make matters worse, shops at tourist attractions had also seen a drop in sales since September 1 when Macau tightened travel restrictions on mainlanders, he said.
The hotel industry too was feeling the pinch. Three- and four-star hotels reported occupancy rates of 80 to 90 percent, falling off to 70 percent in the latter part of the week, though an industry insider fears the worst is still to come.
Federation of Hong Kong Hotel Owners’ executive director Michael Li said the October trade shows would be the best indicator of the impact of the financial crisis.
Li urged the government to reprioritise the type of visitors it wants to bring to Hong Kong, saying Russia, India and the Middle East have huge potential.
“I’m not saying we should ignore individual travellers from the mainland, but those in Guangdong will come to Hong Kong regardless of any promotion.
“We should explore markets that can bring us high-spending visitors,” Li told The Standard.
Ian Jarrett
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