Hong Kong revives “night economy”

SGGP 09/30/2023 05:50

After the Covid-19 pandemic, the “night economy ” of the Hong Kong Special Administrative Region gradually lost its appeal due to fierce competition from new destinations in Asia. In order to restore its inherent appeal, the Hong Kong Special Administrative Region government has launched a plan called “Night Vibes Hong Kong”.

Under the six-month plan, the Hong Kong government will launch night markets in coastal locations such as Wan Chai, Kennedy Town and Kwun Tong. These locations will be open from 3 p.m. to midnight, with food courts and souvenir shops, and musical performances. The food courts will offer Hong Kong-style snacks and other foods, while nearby shopping malls and restaurants will also extend their operating hours.

The event continues from the Mid-Autumn Festival, Chinese National Day and every Friday, Saturday and Sunday in October. The Hong Kong Tourism Board has organized a series of activities on the Wan Chai beach on consecutive Saturdays and Sundays, with many performances and concerts attracting nearly 200,000 visitors.

In response to the plan, some bus companies such as KMB and Citybus are offering discounts of 25-50% and free pick-up and drop-off for children on designated routes. The Hong Kong government is also encouraging some large businesses and shopping malls to organize a series of night market activities with attractive incentives to contribute to the revival of the “night economy”.

Khu chợ đêm Mong Kok ở Đặc khu hành chính Hồng Công ảnh 1

Mong Kok Night Market in Hong Kong Special Administrative Region

The term “night economy” refers to economic activities that mainly involve residents and tourists, taking place from evening to 6 am the following day, including a variety of business activities such as dining, entertainment bars, shopping, fitness, movies, concerts, cultural and entertainment activities, night market stalls and street performances. This colorful nightlife symbolizes the vitality of big cities and is a significant tourist attraction.

According to Hong Kong authorities, the “night economy” has great potential if properly invested in and customer tastes are properly exploited. With new efforts from the government, the economy of the “city that never sleeps” is expected to become bustling again, attracting tourists and creating more jobs in the near future.

The plan was announced in the context of Hong Kong's economy not recovering as quickly as expected after the pandemic. Although the Hong Kong government emphasized that private consumption and service trade are the "two engines" driving growth in the second half of this year, personal consumption has slowed down, falling from 13% growth in the first quarter of 2023 to 8.5% in the second quarter of 2023. The spending-saving policy during the pandemic has changed the habits of Hong Kong people, causing them to reduce going out and spending at night.

Even when mainland Chinese tourists visit Hong Kong, the lack of innovative nighttime attractions, apart from traditional highlights such as the Symphony of Lights in Tsim Sha Tsui and the Temple Street Night Market, means that visitors tend to only visit during the day and not stay overnight. The discouraging of overnight stays also directly reduces the opportunity for visitors to spend money in Hong Kong, harming the “night economy”.

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