Editorial | Hong Kong businesses must adapt as residents ‘go north’
- Hong Kong shops and restaurants, already suffering, lost out as hundreds of thousands of citizens ventured to mainland China to take advantage of the long Easter weekend
More Hongkongers opted for shopping and entertainment on the mainland after the city emerged from the prolonged pandemic.
A year has passed and numbers continue to grow. While the “go north” trend is beneficial to cross-border integration, it does not bode well for many local businesses during a weaker-than-expected economic recovery.
The figures speak for themselves. More than half a million residents went elsewhere on the first day of the Easter holiday.
The number continued to rise, reaching a combined 1.5 million on Sunday. Some travellers are expected to stay longer overseas with the Ching Ming Festival tomorrow prompting many to take a bigger break.
The outbound trips were nearly five times the 330,248 inbound made over the long weekend. Perhaps this is unsurprising with Easter not designated a public holiday on the mainland.