Hong Kong is betting free alcohol and longer shopping hours will revive the city’s once-bustling nightlife.
The government has been in discussions with major property groups to encourage them to roll out measures to boost the nighttime economy, including extending mall operating hours, according to Allan Zeman, a nightclub baron and adviser to Hong Kong’s Chief Executive John Lee.
Domestic pressures are also mounting. Harsh pandemic controls and the government’s national security law have sparked a wave of emigration since 2020 and current residents are flocking to holiday hotspots like Thailand and Japan or splashing their cash on day trips to Shenzhen. But many others, particularly those operating outside of the central areas popular with visitors, are struggling. Castelo Concepts shut nine of its 14 Hong Kong restaurants in July as it entered liquidation. Louie Chung, owner of Lubuds, which operates more than 40 restaurants across Hong Kong including in more residential neighborhoods, said revenue last month registered a double-digit drop from a year earlier.
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