Source: Bloomberg
Author: Shirley Zhao, Xie Xiuqi
Hong Kong Real Estate Agent Habitat Property has relying on Western professionals in the city in the past.Now it is very different.
Victoria Allan, the company's founder, said that mainland Chinese customers now account for 40%of the transaction volume, and this proportion before the crown disease is 10%.Another 40%came from Hong Kong, and customers from the West dropped to only 20%.
"Actually, people I want to hire now must speak Mandarin," said Habitat's Allan in 2001.Habitat websites have only published English articles before, and many of them are Chinese today.The posts of community media have subtitles and are incorporated into the theme of interest in the Chinese community, such as bilingual international schools.
With a large number of foreign and local professionals flowing out, the Hong Kong economy has undergone tremendous changes, and Allan's company is only one of thousands of companies that want to survive.They are more and more dependent on Chinese funds, paying close attention to social media that are popular in the mainland, and embrace the general call in this city that originally used Cantonese and English as the mainstream language.
ALLAN said that it can be changed without changing.You are in a new Hong Kong, not a worse Hong Kong, but just a brand new Hong Kong. We must forget the past and work hard.
Mainland people pour in
According to the census data, in the two years as of June 2022, strict epidemic prevention regulations, political turmoil, and Sino -US relations have become increasingly tense, the Hong Kong population has decreased by approximately 216,000 or about 2.8%.
In order to reverse this trend, the government has launched a new visa plan to attract technical workers.Government data shows that 95%of the about 50,000 people approved last year from the plan came from mainland China.
The data of the Hong Kong Tourism Development Bureau shows that after the epidemic, Hong Kong's tourism industry fell seriously, a 40%decrease from 2019.As of May, mainland tourists accounted for 77%of the total number of tourists, but the slowdown in China's economic economic and the property market crisis means that their costs will be reduced.
These changes can be seen in Hong Kong's largest shopping district.Guangdong Dao and Russell Street and other districts were once known for senior tenants and the world's top rent, but now the store is unattended.However, the Suhao District of Central is more popular than before the epidemic. It is favored by tourists in mainland China. They have abandoned the iconic buildings, boutique cafes and fashionable mural selfies with the popularity of luxury goods in Chinese social media.Essence
In order to win business, many Hong Kong retailers that originally promoted on Facebook and Instagram used similar Chinese applications such as Xiaohongshu; Xiaohongshu has hundreds of millions of users, they will release travel guidelines, catering reviews andBrand recommendation.
Among them, Bakehouse, which is a bread chain. After the users in mainland China praised the egg tart (Hong Kong iconic dessert) on the application, the company opened an account in Xiaohongshu.
The founder and chef Grégoire Michaud said that during the one -week resurrection holiday in April, Bakehouse's sales increased by about 17%year -on -year.Huang Jiahe, the president of the Hong Kong Catering Association, said that the restaurant business in the Easter holiday is estimated to be up to 40%compared with a year ago.
market research company Euromonitor International, Prudence Lai, said that it is clear that when you observe which restaurants with queues on the streets on the street, they usually find that they are recommended restaurants recommended by Xiaohongshu.
