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Protests hurting service industries

October 09, 2014

Some industries, particularly the retail, catering and tourism sector, are more prone to the effects of the Occupy Central protest.


Speaking at a press conference today, Principal Economist Andrew Au said double-digit revenue falls were recorded in some retail shops in Admiralty, Central, Causeway Bay and Mong Kok.


Hong Kong's GDP will drop by $300 million a week if revenue in the retail, catering and tourism sector drops by 5%. The loss will increase to $600 million if revenue drops by 10%, he added.


The protests also affect retail employees, as the majority of their income comes from sales commission.


Mr Au said the Government will monitor the situation and reassess the macroeconomic situation when more data is available.