The impact of grounding has a far-reaching impact on economic growth in the second half of the year

Opposing the revision of the “Fugitive Offenders Regulations” caused a series of demonstrations and strikes, which has added to the fragile economic environment this year

It is expected that the second half of the year will record negative growth and the economy will fall into recession. The airport operation has been more troubled. Not only has the tourism, hotel, retail and transportation industries been dragged down, but the Hong Kong Airport has become a “transportation bag” as an international transportation hub. The long-term loss cannot be estimated.

The impact of demonstrations on Hong Kong’s economy

The wave of anti-reform demonstrations has intensified. A large number of demonstrators were dissatisfied with the police’s escalation of force by force. A female demonstrator was shot and injured in the right eye. Some people launched a squad at the airport rally, making the airport the first demonstration since the opening in 1998. And stopped. According to the AA data, more than 900 flights were cancelled on the 12th to the 13th of this month. Together with the continued flight of at least 80 flights on the 14th, the “Sei Bing Airport” rally initiated by netizens has been Cancel more than one thousand flights.

600,000 jobs in food and beverage retail or affected

The Hong Kong Airport has been “half a day” for two consecutive days. It has been suspended for half a day. The travel of large numbers of passengers has been blocked and the entrances and exits of goods have also stopped. It is estimated that the loss of goods has reached 13,800 metric tons. It is even more than 101.6 billion yuan.

According to the latest economic data, the economic situation in the first half of this year was the weakest in the past ten years. In the second quarter, the gross domestic product (GDP) recorded only 0.5% growth year-on-year, a slight decrease of one percentage point from the previous quarter. The Administration has also lowered its annual economic growth forecast to zero to one percent. It is expected that the third quarter of the economy will have a negative growth rate. If negative growth lasts for two quarters, it can be seen as a technical recession in Hong Kong. Social events have dealt a severe blow to retail, catering and tourism, affecting about 600,000 catering and retail jobs in the long run.

Legislative Council member Yao Sirong is worried that every week there will be shocks, which will make foreign tourists feel negative about Hong Kong. Since August, the number of visitors to Hong Kong has fallen by 30% compared with the same period of last year. The industry is worried that small and medium-sized enterprises may face difficulties and pressures such as funds. Many tour guides are self-employed and there is no income without a tour group. He estimated that the hotel occupancy rate may even fall by 20% to 30% this month, and the loss of income is over 40%. The latest house prices of individual hotels have been lowered to 80 yuan a night and no one is renting. It is expected that the number of inbound tour groups will drop sharply after the summer vacation. “Saskat” period.


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