Wallis Wang The restaurant sector celebrated a significant milestone yesterday, generating HK$300 million in business during National Day festivities, driven by enticing discounts. Industry leaders are optimistic that restaurants could achieve a remarkable HK$9 billion in revenue this month. Simon Wong Ka-wo, president of the Hong Kong Federation of Restaurants and Related Trades, described the current climate as "ideal" and expressed hopes for a sustained momentum.
He said the National Day's earnings matched last year's figures, fueled by various citywide celebrations, including a spectacular fireworks display over Victoria Harbour, which was expected to draw locals and tourists alike. Wong still anticipates mainland tourists to cross over in the coming days as the golden week runs from Tuesday to October 7. About 260 tour groups arrived in Hong Kong, with nearly 1,000 expected throughout the holiday.
The catering sector stands to gain significantly from the surge in visitors. Wong projects that, amid a thriving economy and a buoyant stock market, the catering industry could reach HK$9 billion in business, just HK$1 billion shy of the prepandemic peak of HK$10 billion. "Diners' spending per person has likely increased due to the rising stock market.
Many are eager to spend after recent financial gains," Wong noted. In the past, mainland tourists often flocked to popular areas, such as Tsim Sha Tsui and Mong Kok. However, Wong observed a shift as tourists now explore all 18 d.