Unrest-hit service sectors in HK see double-digit revenue drops in Q3

0 Comment(s)Print E-mail Xinhua, December 10, 2019
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Hong Kong's major service industries reported drops in business receipts in the third quarter of the year amid an economic downturn prompted by the prolonged social unrest.

Business receipts of tourism, convention and exhibition services experienced the largest year on year fall of 27.8 percent in the third quarter since the SARS epidemic in 2003, a spokesman of the Hong Kong Special Administrative Region government said Monday.

Official indices showed double-digit declines in accommodation services, retail, wholesale and food services.

The spokesman highlighted the impact of local social incidents involving violence since June and pointed out that the negative influence will continue on the service industries in the near term.

"Ending violence and restoring social order are of utmost importance to the recovery of consumption- and tourism-related industries," he said.

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