Businesses count the cost of decision to block extra Shenzhen visitors
‘Bursting of a dream’ for retailers as multi-entry permits for migrants in Shenzhen delayed, but ordinary Hongkongers welcome the move
Restaurateurs anticipating an influx of visitors from across the border have reduced their forecasts of extra earnings by HK$1 billion.
Retailers' hopes of better business were also dashed yesterday when Hong Kong secured agreement from Shenzhen to delay the issuing of multiple-entry visitor permits to 4.1 million non-permanent residents.
Chief Executive Leung Chun-ying said multi-entry permits, due to be issued from September 1, would not be issued in the short term while the government studied the city's capacity to cope with the extra visitors.
Simon Wong Ka-wo, president of the Federation of Restaurants and Related Trades, predicted lower growth in the sector. "We had expected the increase in the number of tourists to bring an additional HK$1 billion turnover for the industry," Wong said.
Mainland visitors spent HK$5 billion on food last year, 5 per cent of the catering industry's overall turnover.
Per capita spending by mainland visitors on food dropped from about HK$1,000 in 2003 to HK$200, he said, reflecting changes in consumption patterns. "People would rather shop than dine," he said.
William Wong Wai-sheung, of jewellery retailer Luk Fook Group, described the reversal as the "bursting of a dream".