Total receipts of Hong Kong restaurants in the second quarter of this year fell 5.5% year-on-year

　　China News Service, Hong Kong, August 3 (Reporter Wei Huadu) The Hong Kong Special Administrative Region Government Statistics Department announced on the 3rd that the provisional estimate of the total revenue value of Hong Kong restaurants in the second quarter of 2022 is 22 billion Hong Kong dollars, a year-on-year decrease of 5.5%.

　　The data also showed that the seasonally adjusted provisional estimates of total restaurant receipts in the second quarter of this year increased by 51% and 52.5% in value and volume, respectively.

Comparing the first half of this year with the same period last year, total restaurant receipts decreased by 13.6% and 16.4% in value and volume respectively.

　　On a monthly basis, in April, May and June this year, the provisional estimates of the value of total restaurant receipts decreased by 15.2%, 1.3% and 0.7% respectively compared to the same period last year.

　　A spokesman for the SAR government said that due to the general easing of the new crown pneumonia epidemic, the gradual relaxation of social distancing measures and the boosting effect of the consumer coupon scheme, the restaurant business improved significantly quarter-on-quarter in the second quarter of this year, and the year-on-year decline also narrowed. The second round of consumer coupons will help support consumer demand.

However, the restaurant business in the future will depend on the development of the local epidemic and the impact of tightening financial conditions on the spending power and sentiment of the public.

　　Zhuang Tailiang, an associate professor at the Department of Economics at the Chinese University of Hong Kong, told reporters that after a sharp drop in the first quarter, some restaurants in the catering industry closed down and unemployment rose in the industry.

Entering the second quarter, the industry has not yet fully recovered, and the total revenue of restaurants has not rebounded significantly year-on-year. However, as the situation has improved in recent months, it is believed that the data in the next quarter will be more impressive.

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