In August, the government rolled out a HK$19.1 billion package which was followed by another round of help worth HK$1.4 billion last month. The measures, together with those announced during the budget earlier this year, were expected to boost Hong Kong’s economy by 2 per cent.

However, many lawmakers felt the assistance was not enough given the severity of the challenges faced by various sectors – especially tourism, retail and dining – which were hit hardest by the ongoing protests.

“The tourism industry is facing tremendous pressure, but the relief measures announced so far for them have just been like a drop in the ocean. The measures are not enough to resolve the sector’s difficulties,” said tourism lawmaker Yiu Si-wing.

He called for stronger doses of relief measures for the sector – such as more rounds of stimulus, a cut in the air passenger departure tax and special promotion packages for Hong Kong Disneyland and Ocean Park, as he warned of a wave of lay-offs and closures following the Lunar New Year if enough steps were not taken to turn around the sluggish economy.

“The travel agencies have been biting the bullets and hoping to survive this austerity through Christmas and the Spring Festival next year. If there are still no signs of economic revival after the festive season, it may spark a wave of lay-offs and business closures,” he said.

Pro-establishment lawmaker Chan Chun-ying, who represents the finance sector, agreed that the recent relief measures did not help the tourism sector much as they targeted low-end tours. He and pro-democracy legislator Claudia Mo Man-ching both suggested the government roll out cash coupons to stimulate local spending and rescue the industry.

Hong Kong’s tourism sector reels from months of protests

“Tourists are not coming to Hong Kong anymore. Will the government consider rolling out cash coupons for local consumption to encourage local people rescue the economy?” Chan asked.

“Are there any ways to offer immediate help to the economy, such as stimulating local spending, or helping the dining sector? Will you offer cash coupons for local consumption?” Mo asked.

However, Secretary for Commerce and Economic Development Edward Yau Tang-wah was non-committal about the suggestions, saying the offer of cash coupons would involve a lot of public money.

“We need to think about it [the cash coupons] as it involves a lot of public coffers. As for the other suggestions, I will pass them to the relevant departments for discussion. We’ll also have further discussion with the tourism sector on how special local tours can be arranged to stimulate local spending,” he said.

In the first 15 days of October, the number of tourist arrivals to the city tumbled by 50 per cent year on year, the government said last week.

Separately, Annie Tse Yau On-yee, the chairwoman of the Hong Kong Retail Management Association, said the 23 per cent year-on-year fall in retail sales in August was “staggering”, while urging the city’s big developers and private landlords to follow the government’s lead and cut rent by half for at least six months.

Retail sales suffer worst decline amid protests and trade war

“It is a matter of life and death for many shops and businesses, not just about making more or less profit. What matters the most now for shops is controlling cost, not adjusting sales tactics,” Tse said in a radio show.

She rejected pro-establishment lawmaker Regina Ip Lau Suk-yee’s suggestion for luxury stores to offer big discounts to lure mainland Chinese customers and stay afloat financially.

“The protests have forced shops to close early and hit market sentiments. Although the landlords did not create this situation, they do have a social responsibility to minimise the impact felt by their tenants.”

Additional reporting by Victor Ting