Hong Kong’s John Lee urges businesses to be bold, creative amid changing spending habits
“I am very happy to see many industries, which include tourism, food and beverages, and retail operators, clearly understand and bravely embrace these changes. They have changed their operational and service focus, or even added new ways of attracting people.”
Hong Kong’s retail and catering sectors experienced a lacklustre Easter holiday as the city recorded an outflow of 1.7 million people. Only about 400,000 tourists came over from mainland China and abroad during the four-day break.
Lee on Tuesday attributed the changes to shifting economic trends, citing changes in how various industries operated and patterns of consumption, such as whether residents opted to travel during holidays or how they spent their money.
He pointed to businesses that had adapted and found new ways to attract customers, referring to a special Korean tour that offered yoga, hiking and jogging in their itineraries, as well as local bakeries going viral online for their egg tarts.
Lee did not specify the name of the tour operator.
“I am very happy to see that the operators of different industries have come to terms with the reality of the changing environment,” he said.
“Hong Kong people are creative and flexible. As long as they are courageous enough to handle and adapt to changes in consumption and demand, Hongkongers, who have always been known as good at brainstorming new ideas, will surely be able to find new advantages and momentum amid the change.”
Lee said the government would create a variety of opportunities for businesses to make money, such as next month’s fireworks display along the Kowloon waterfront to mark the start of the Labour Day “golden week” holiday on the mainland.
But he said it was up to businesses to take advantage of the coming events.
The chief executive also said the city remained popular and vibrant, citing data from the government’s Art March drive, with its events welcoming more than 4 million attendees.
No Easter joy for Hong Kong retailers as trade group warns of tough times
The Hong Kong Sevens also drew more than 100,000 attendees over three days, about a third more than last year’s sports event, he said.
Lee also touched on a series of finance industry events held at the end of March that brought high-spending guests to the city, arguing it showed what the conference economy could bring to the table.