HK Restaurants have been hardly hit by Covid-19 Outbreak. But now, many of them have gone through the worst time and do well. Why?
HK Restaurants have faced the hardest time by the hit of the Covid-19. Like restaurants around the globe, F&B industry has been subject to the strict control of social distancing.
Notably, restaurants and bars are still under social distancing restriction. Tourists are reluctant to visit HK with quarantine requirements of 21 days. In such case, many restaurants should have closed down as people expected earlier.
However, it’s not the case. According to government statistics, the number of HK restaurants has not dropped at all. It has reached 16,500 by late September this year. Even higher than that of a year ago. Apparently, it sounds weird. Why do HK restaurants perform so well even with no tourists here? Let’s take a look.
Why HK restaurants do so well now?
Firstly, there are a number of festivals and long public holidays by the 2nd half of the year. For example, the HKSAR Establishment Day (1 July), Mid-Autumn Festival (22 Sept). Coming up are National Day (1 October), Chung Yeung Festival (14 October), then Christmas (25-27 December).
Usually, HK people like to travel during the long public holidays. Due to the quarantine requirements, we choose to stay instead of travelling. It helps to boost the local dining consumption during the holiday seasons.
Strong local demand
Once the Government has released the social distancing restriction, we can see how packed the restaurants and bars are. Actually, spending power on food and drinks in local market is pretty strong in Hong Kong. As far as the eateries can open for business, most of them can still survive by all means.
Consumption Voucher Scheme
In September, all HK permanent residents and new arrivals aged 18 or above, can receive HK$5,000 electronic consumption voucher. Though the voucher is not in huge amount, it has boosted the restaurant business. People would spend all the first instalment before getting the second one.
No local infection for days
Furthermore, local infection rate of Covid-19 has reduced to zero for days. Therefore, we have resumed most of our normal life. Back to school (though half day) and office. Also, we are eating out with friends and family more than before.
F&B industry in HK is still under social distancing control. However, it does not seem to affect the restaurant business. As witnessed by Lacrucci, F&B operators are now more optimistic than before. Some of them are looking for expansion too.
As far as the quarantine restrictions are still harsh, people will be stuck in Hong Kong to spend. We can then expect that local restaurant business will continue to do well. Of course, restaurants have to adapt to the dining pattern of local customers, both on the menu and pricing.