[Panel discussion] An uphill battle: Revitalising the retail and tourism industries

Alain Li
Regional Chief Executive, Asia Pacific, Richemont
About This Session

The downturn in Hong Kong’s retail industry is reaching unprecedented territory – prestigious and long-standing brands are permanently shutting their doors, while experts predict the jobless rate in the sector is set to reach historic highs. Tied directly to this downturn is a drastic decrease in tourism - particularly from Chinese tourists, who accounted for 78 percent of visitors in 2018. Meanwhile, experts believe the global tourism industry stands to lose tens of billions of dollars over the next year. What are the short- and the long-term prospects for the retail and tourism industries in Hong Kong? What type of relief measures are being offered and how long can they be sustained? What does the road to recovery in retail and tourism in Hong Kong look like?