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In other news, protests in Hong Kong over Chinese tourists. "We don’t want your money: Chinese shoppers told to spend cash elsewhere by frustrated Hongkongers

In other news, protests in Hong Kong over Chinese tourists. "We don’t want your money: Chinese shoppers told to spend cash elsewhere by frustrated Hongkongers who just want some peace and quiet" https://www.scmp.com/news/hong-kong/hong-kong-economy/article/2184891/we-dont-want-your-money-chinese-shoppers-told-spend https://www.scmp.com/news/hong-kong/hong-kong-economy/articl... Also, Bloomberg is really the worst with clickbait titles.

Hithredin 8y ago
Haters everywhere. Hong Kong is not really the best place for peace and quiet. Like... really
azurezyq 8y ago
peace and quiet... HK? Well, haters take their own shares. However HK cannot make money from peace and quiet to make it sustainable. According to Wikipedia (https://en.wikipedia.org/wiki/Economy_of_Hong_Kong#GDP[45] https://en.wikipedia.org/wiki/Economy_of_Hong_Kong#GDP[45]), Tourism is 5% of the GDP and I believe a big chunk of that is contributed by people from mainland.
- schuke 8y ago
  I highly doubt if it's only 5%. A mainlander goes to HK, buys Rolex and new iPhone. Wears the Rolex and switches to the new iPhone. Goes back to mainland without declaring anything. How do these numbers end up in official statistics for tourism? Or it could be the other way round: HK resident buys Rolex and iPhone, sells in mainland thus making money.
  - rahimnathwani 8y ago
    Unless the Rolex and iPhone are made in Hong Kong, only the wholesale and retail margin would show up in GDP.
  - robjan 8y ago
    We are one of the financial capitals of Asia and a significant amount of goods departing China to the West go via our city.
  - andymcsherry 8y ago
    I’m sure these things can be tracked by analyzing the currency exchange patterns between HK and the mainland
ksec 8y ago
Sometimes I blame this on Government. They are by far the worst Government in any developed cities. They want more tourist and yet they don't build any more infrastructure. Frustration mounted and some blame are then being pointed to Chinese Tourist.

Hithredin 8y ago

Haters everywhere. Hong Kong is not really the best place for peace and quiet. Like... really

azurezyq 8y ago

peace and quiet... HK? Well, haters take their own shares. However HK cannot make money from peace and quiet to make it sustainable. According to Wikipedia (https://en.wikipedia.org/wiki/Economy_of_Hong_Kong#GDP[45] https://en.wikipedia.org/wiki/Economy_of_Hong_Kong#GDP[45]), Tourism is 5% of the GDP and I believe a big chunk of that is contributed by people from mainland.

schuke 8y ago
I highly doubt if it's only 5%. A mainlander goes to HK, buys Rolex and new iPhone. Wears the Rolex and switches to the new iPhone. Goes back to mainland without declaring anything. How do these numbers end up in official statistics for tourism? Or it could be the other way round: HK resident buys Rolex and iPhone, sells in mainland thus making money.
- rahimnathwani 8y ago
  Unless the Rolex and iPhone are made in Hong Kong, only the wholesale and retail margin would show up in GDP.
- robjan 8y ago
  We are one of the financial capitals of Asia and a significant amount of goods departing China to the West go via our city.
- andymcsherry 8y ago
  I’m sure these things can be tracked by analyzing the currency exchange patterns between HK and the mainland

ksec 8y ago

Sometimes I blame this on Government. They are by far the worst Government in any developed cities. They want more tourist and yet they don't build any more infrastructure. Frustration mounted and some blame are then being pointed to Chinese Tourist.