Published: 23:12, February 5, 2020 | Updated: 08:16, June 6, 2023
Restaurant sector records 1st decline in revenue in 16 years
By Xinhua

Radical protesters damage a restaurant in Hong Kong during a protest against the now-shelved extradition law amendment bill, Aug 25, 2019. (KIN CHEUNG / AP)

HONG KONG - The total revenue of Hong Kong's restaurant sector in 2019 decreased by 5.9 percent from the previous year, the first annual decline in 16 years, according to statistics released on Wednesday by the Hong Kong Special Administrative Region (HKSAR) government.

For 2019 as a whole, the value of total receipts of the restaurants sector was provisionally estimated at HK$112.5 billion, down by 5.9 percent in value and 8.0 percent in volume compared with the whole year of 2018, according to the HKSAR government's Census and Statistics Department.

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Local social incidents with intensified violence in the fourth quarter caused severe disruptions to food and beverage businesses, a government spokesman said

A spokesman of the HKSAR government pointed out that it is the first annual decline in Hong Kong's total restaurant receipts since 2003.

The value of total restaurant receipts showed a steeper plunge of 14.3 percent in the fourth quarter of 2019 from a year earlier, marking the largest fall since the outbreak of SARS in the second quarter of 2003, the spokesman said, adding that the local social incidents with intensified violence in the quarter caused severe disruptions to food and beverage businesses.

The spokesman added that the food and beverage sector has been facing an even more difficult business environment recently due to the threat of the novel coronavirus infection.

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"The outlook down the road depends critically on how the situation of the novel coronavirus infection will evolve. The government will continue to monitor the developments closely," said the spokesman.