Editorial | Night economy needs more than bazaars
- Reversing the slump that has seen restaurants and malls close early in the evening will need something dazzling, deliverable and authentically Hong Kong. Officials should work with industry to find the answer
If a “city that never sleeps” has little nightlife to offer, it hurts more than just image and reputation. The slump that has prompted Hong Kong’s restaurants and malls to close early in the evening underlines the struggle in rebuilding the post-Covid economy amid weakening competitiveness and changing lifestyles.
Myriad ideas have emerged after the finance chief turned the spotlight on night markets to help stimulate consumption and tourism, but the direction is still greeted with a mix of optimism and scepticism.
This is partly because Paul Chan Mo-po has yet to work out the details with stakeholders. Chief Executive John Lee Ka-chiu said the first series of activities would come around the Mid-Autumn Festival and the National Day holidays in late September and early October. The drive would not be one-off and new elements should be included in stages, he added.
The ideas on offer range from staging “first-class” bazaars for high-end consumers, to extending shopping centre hours. To what extent the so-called “night economy” helps remains to be seen.
The events held under the “Hello Hong Kong” and “Happy Hong Kong” campaigns for visitors and local residents might have cheered up the public mood, but recovery clearly requires more substantive and long-lasting initiatives.