From luxury hotels and major shopping malls to neighborhood stores and restaurants in tourist hubs like Central, Causeway Bay and Tsim Sha Tsui, businesses are closing early or seeing fewer customers. Even when things are open, stores and the airport are quiet, as tourists stay away.
Hong Kong has had severe economic challenges before. In the early 2000s the SARS epidemic shut down the city amid fears of contracting the deadly virus. Once the all-clear came, though, visitor arrivals and business confidence bounced back. The difference now is that there’s little expectation of a rapid resolution, as positions harden on either side of the barricades.
The lack of foot traffic also means months of weakening sales among retailers at all levels, from the glitzy shops in Central to family-run small businesses. The city’s unemployment level in July ticked higher for the first time in two years, and it’s likely layoffs and store closings will increase in coming months.