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Hong Kong should refer to Macau’s model to attract travelers
2023-1-28
The four consecutive days of new year’s public holidays have ended. During this period, the business sentiment of Hong Kong is still relatively deserted. Although many famous shopping malls had promotions and celebration activities, but the resources being invested were far less than the amount before the cities’ lockdown three years ago. On the contrary, The inbound mainland tourists of Macau hit a daily year high to seventy thousand in the fourth day of new year.
The population of Hong Kong is about twelve times of Macau., but the inbound tourists during holidays was only one seventh of  Macau. The daily inbound tourists were less than ten thousand. These number of tourists were much lower than the market expectation. So, it was lack of momentum to push the property price upward. Facing to this reality, the related departments and the business associations stood still and did nothing to stimulate the flow of the inbound tourists.
Since the cancellation of lockdown policies, Hong Kong is attractive to draw a large amount mainland tourist. However, there is an upper limit of tourists in daily inbound quota. In addition, the tourists must hold a valid negative result of PCR testing. In this scenario, Hong Kong was completely defeated by Macau’s flexible tactics of grabbing the mainland tourists.
The Hong Kong business community doesn’t seem to believe that the mainlanders still have strong spending power. In fact, there were almost no measures to attract visitors. In Macau, the government and the business societies are cooperated to attract the greatest number of visitors to come. As a result, the gambling revenue has been skyrocketing. The retailing, tourism and food and beverage industries have also benefited from the expenditures of the surge of the visitors.
Hong Kong should implement full flow customs clearance’s policies’ as soon as possible. By providing the shopping or accommodation discounts to inbound tourists, it will certainly attract more travellers to come Hong Kong for consumption expenditure.
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1. Hong Kong benefits from reopening 2023-01-29 10:34:31 |
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Amongst APAC markets, JLL said Hong Kong will benefit most from the re-opening. JLL expects Hong Kong to record a 10% to 15% growth in the total transaction volume of commercial properties this year. “Mainland Chinese investors began to return to Hong Kong and look for property investment opportunities after the opening of borders. The investors expect the rental growth, especially on retail properties to outweigh the impact of interest rates hike,” Oscar Chan,
head of Capital Markets at JLL in Hong Kong. Looking at sectors, JLL expects the hotel industry will benefit most from the border re-opening, adding the hospitality assets will see a 6% increase in 2023. |
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2. Private cara quota up 1000 2023-01-30 10:34:12 |
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The Hong Kong quota for private cars will be up by 1,000, and will be distributed in two phases from the second quarter, half for company applicants and half for individual applicants. This after governments of Hong Kong and Macau have agreed to increase the regular quotas for Hong Kong cross-boundary non-commercial private cars using the Hong Kong-Zhuhai-Macao Bridge to Macau to enhance traffic flow between Hong Kong and Macau. The quotas are valid for no more than three years and the eligibility criteria of quota applications remains the same |
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3. Shop owners set for rebound 2023-01-30 16:20:17 |
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The reopening of mainland China's borders has stimulated the retail property market and rents are expected to rebound this year. A currency exchange chain, Hong Kong Exchange, signed another two-year lease on a shop at Causeway Bay's Hong Kong Mansion this year. The new monthly rent for the 80-square-foot street shop has shrunk 41 percent to HK$70,000 from the original rent sealed in 2019 - before the pandemic hit. The owner, Choi, changed his mind about quitting the place after news of the mainland-Hong Kong border reopening emerged lastmonth, he told Sing Tao Daily, sister publication of The Standard. |
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4. Task force leading to promote Hong Kong 2023-01-31 10:38:43 |
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The government has formed a task force to lead the promotion of Hong Kong’s branding. The Task Force on Promoting & Branding Hong Kong will be led by Financial Secretary Paul Chan. “With the development in the past few years, Hong Kong has embraced many positive changes and its positioning has become clearer. However, people outside Hong Kong may not be aware of the new opportunities brought by these changes, and some of them might still have negative perceptions of Hong Kong since they might not understand the city’s situation,” Chan said. |
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5. Man in Hong Kong 2023-01-31 13:11:55 |
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如果文章用中文寫，效果會唔會好一點？ 此文目標群體想當然應該係香港嘅持分者，冇理由唔識中文只識睇英文。
如果目標群體是外國人，為什麼文章只重點吸引內地旅客？
另外，香港為什麼要吸引大量內地旅客？地方細，應該平均吸引世界各地的旅客，令香港更有特色更具吸引力！ 香港嘅業界都唔會只需要單一客源啩？
得罪了！
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6. Job switchers expect salary raise 15% 2023-02-01 10:15:45 |
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Companies in the property, construction, and engineering industry need to review their remuneration package to remain competitive as job switchers in the sector are expecting a salary raise of 15% to 20% on their base pay. In a report, Randstad Hong Kong said 50% of the job switchers in the field cited financial health as the driving factor in making career choices, citing the 2022 Employer and Research. “Construction and property companies that want to build an agile and innovative workforce will need to align their brand reflections with their workforce management |
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7. Hk Posts 183b deficit 2023-02-02 15:18:56 |
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The Hong Kong government reported a deficit worth $183.2b in the first nine months of the current financial year. Over the same period, expenditure incurred stood at $593.3b, whilst revenue generated was worth $390.1b |
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8. Mr K 2023-02-04 12:21:39 |
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Why do we need to push the property price upward? and increase our cost of living? |
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