Tourism and uncertainty. Not the best friends.

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I think it’s a little tough for Hong Kong to return to normalcy within a short period of time. I do wish that everything will start to be better moving forward. I have visited Hong Kong at least 10 times I think. Some were for work, some were for vacations. The very recent visit was probably 1 years ago. Mostly a trip for kids.

I like Hong Kong. I think it’s a modern city with great infrastructure and connectivity. I think its people are resilient and capable too. Maybe this is a test of compatibility and compromise. I wish both Hong Kong and China all the best as they sort out the current gap. Hong Kong has lost an opportunity recently for tourism Hong Kong dollars.

Article in bangkokpost.com Article quoted a Chinese couple who were planning to visit Hong Kong. Due to the unrest, they decided to visit Singapore instead. They are among thousands who have changed their travelling plans for the “golden week” holiday. Singapore has become a destination when Chinese tourists skip Hong Kong. According to Lawmaker Yiu, it may one to two years for Hong Kong’s tourism industry to return to normal once the social unrest is resolved.

In July, Singapore saw an additional 100,000 Chinese travellers. At the same time, Hong Kong saw a 5.5% drop in tourists in July. It fell a further 42.3% in August. In a report by Bloomberg just last week, citing Hong Kong’s Travel Industry Council has revealed that Chinese tour groups to Hong Kong were set to drop 86% for golden week. Many more references. Please refer to the post here. Article in bangkokpost.com

Cool heads should prevail. Truth is, both sides are not gaining from a continuous chaotic situation. As usual, the wealthy have more options (including even moving some of their wealth overseas. Read here) while the working class will be squeezed in the middle and the lower than middle class may feel the brunt of all these slowdown. There’s no guarantee against any unforeseen circumstances. That’s why it’s best to start saving and investing when times permit. Get well soon, Hong Kong.

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