The Hong Kong Tourism Board (HKTB) will offer residents HK$100 dining vouchers to encourage them to eat out in the evening in a bid to boost local consumption amid a weaker than expected post-pandemic economy.
A total of 200,000 vouchers will be given away in two phases, with the first beginning at 10 am next Wednesday and the second on January 10. Vouchers will be disbursed online on a first come, first served basis via the HKTB website. They can be used at over 1,100 participating restaurants and 100 bars, with a minimum spend of HK$100, after 6 pm.
The move is an expansion of the “Hong Kong Night Treats” campaign, which has seen dining vouchers handed out to visitors since November. In a statement on Wednesday, HKTB Executive Director Dane Cheng said that the existing promotion had been well received.
“Therefore, the HKTB will ride on the Christmas and New Year festivities to extend the campaign to locals to share the joy with the public as a joint gift from the HKTB and the trade and encourage the public to enjoy the holidays with their friends and family in town while supporting local businesses,” Cheng said.
Hong Kong’s economy was dealt a heavy blow by the Covid-19 pandemic – one that spanned almost three years and lasted long after cities internationally had embarked on their fiscal recovery.
Businesses associated with the night economy – bars, restaurants, karaoke lounges, massage parlours, nightclubs and live music venues – were particularly affected. Some were forced to close completely, while others were allowed to operate according to rigorous regulations and curtailed opening hours. Dinner service at eateries was banned for months on end. Several did not survive.
In an effort to redress weak consumption and reinvigorate the city’s evening economy after Covid-related restrictions kept Hongkongers at home for the better part of three years, the government in September launched its “Night Vibes Hong Kong” campaign. It runs until Lunar New Year in early February, spanning what have historically been the city’s busiest months for consumption and tourism.
As part of the campaign, the government has worked with vendors to hold night markets and as well as concerts by the Victoria Harbour. Shopping malls have also offered discounts to encourage shoppers to make purchases.
While visitor arrivals have increased since the border fully reopened in February, they remain below pre-pandemic levels. Provisional figures from the HKTB show that Hong Kong logged around 30.07 million arrivals from January to November, 79 per cent of whom hailed from mainland China.
In 2019, when months-long pro-democracy protests and unrest had a negative impact on tourism, more than 52.72 million arrivals were recorded in the same period.
Restaurant receipts also languished below the amount spent on eating out in 2019, with provisional data for the third quarter showing a continued decline. Restauranteurs who spoke to HKFP in September ahead of the Hong Kong Night Vibes launch were pessimistic about the outlook of their industry, saying that increased outbound tourism saw Hongkongers spending overseas rather than at home.
According to a government report on the fiscal situation in the third quarter published on Sunday, “the Hong Kong economy continued to revive… supported by inbound tourism and private consumption.” However, the real gross domestic product (GDP) growth forecast for 2023 was revised down to 3.2 per cent. In August, official predictions of GDP growth were 4 to 5 per cent.
“Looking ahead, inbound tourism and private consumption will continue to underpin economic growth,” economist Adolph Leung wrote in the report.
Leung mentioned the Night Vibes Hong Kong initiative as one that “should provide support” to local spending, but added that “the difficult external environment amid increasing geopolitical tensions and tight financial conditions would continue to weigh on exports of goods and investment and consumption sentiment.”
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