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Hong Kong's retail woes deepen as violent protests deter Chinese shoppers

Retail sales forecast for Hong Kong have fallen 14 per cent in August from a year ago and hotel occupancy rates have slid to 66 per cent from 94 per cent in August 2018

Demonstrators clash with riot police during a protest in Hong Kong, China, August 24, 2019. Photo: Reuters
Demonstrators clash with riot police during a protest in Hong Kong, China, August 24, 2019. Photo: Reuters

Months of protests in Hong Kong are taking an increasing toll on the city’s economy, with retail sales forecast to decline for a seventh month in August. The protests and the police response -- both of which are becoming more violent -- have slammed the tourism industry, with visits from mainland China down 42 per cent in August. That collapse has affected shops and the hotel industry, with retail sales forecast to have fallen 14 per cent in August from a year ago and hotel occupancy rates sliding to 66 per cent from 94 per cent in August 2018. Luxury goods such as ...