My Take | As Hong Kong enters a new year, the challenges ahead are sobering
- The city will need to draw on its famous spirit and resilience as it recovers from the Covid years and adapts to new circumstances
A new year, even if beginning with a hangover from midnight celebrations, is a time for reflection, resolution and hope for the future. The last 12 months have been transformative for Hong Kong. It is easy to forget that a year ago, the city was only just beginning to break free from the bonds of Covid-19.
Social-distancing restrictions were lifted just in time for New Year’s Eve in 2022. But the wearing of masks was still mandatory, the border with mainland China yet to open and schoolchildren had to take daily Covid-19 tests. There was still a long way to go.
The crowds watching the new year fireworks tonight (Sun), the first since 2018, might feel that Covid-19 has finally been consigned to history. The city has played host to a string of international conferences, exhibitions and elite sporting events, ending three years of isolation.
Campaigns have been launched to get people out and about, especially in the evening, with night markets, concerts, exhibitions, and discounts for shopping and dining.
But while memories of quarantine, testing, and targeted lockdowns may be fading, the impact of the pandemic is still being felt.
The economic recovery has been weaker than hoped, with a downturn in the property and stock markets. A budget deficit of HK$100 billion is forecast.