Olympic spirit boosts local business

August 8, 2024

Voiceover: 
Hong Kong’s journey to Olympic gold, bringing citizens across the city together. 

Despite the time difference, fans gathered to cheer on their athletes, wherever and whenever they could.

The Government has purchased the television broadcasting rights for the Paris Olympic Games and the Paralympic Games, allowing all Hong Kong people to watch the competitions for free, boosting foot traffic at shopping malls and restaurants.

Catering industry representatives pointed out that the events encouraged Hong Kong citizens to stay in the city, and in turn, spend.

During the first week of the Games, the industry saw around a 20% increase in business.

Hong Kong Federation of Restaurants & Related Trades President Simon Wong:
During this time, I saw that the business of the catering industry has profitable in a way that many citizens (have been) going out, going to the shopping malls. 

The delivery platforms also enjoyed about 15% growth in their business. 

Voiceover:
Capitalising on the success of Hong Kong’s fencers, this bar installed a fencing games console for patrons to experience the Olympics atmosphere.
 
Industry representatives noted that business rose by an average of 15% during the Olympics.

Hong Kong Bar & Club Association Chairman Chin Chun-wing (translation): 
Especially in residential areas, some customers had to go out to watch the events because their homes are small. Also, they could only watch the competitions when most people were sleeping so they had no choice but to go out.

On weekdays, bars were busy, but Fridays and Saturdays were even busier, as customers headed to the bars later, sometimes until 4am or 5am, resulting in a rise of about 10% in reservations, while the number of walk-in customers also increased by 5% to 10%.

Voiceover:
Mr Chin added that every major event brings business opportunities and he hopes the Government will further promote Hong Kong’s night economy.

In an inspiring display of togetherness, local citizens have been cheering the city's athletes to glory in the Olympic Games despite a six-hour time difference between Hong Kong and Paris.

The Hong Kong Special Administrative Region Government acquired the television broadcasting rights for the Paris Olympic Games and the upcoming Paralympic Games, providing residents with the opportunity to watch live streams for free. This initiative has not only fostered a communal spirit but also contributed to a noticeable uptick in local spending.

The games are proving to be a boon in particular for the catering industry, with citizens choosing to stay in Hong Kong and spend money.

Simon Wong, President of the Hong Kong Federation of Restaurants & Related Trades, said that during the first week of the Paris Olympics, business volume surged by approximately 20%.

“During this period, the catering industry has enjoyed profitability as many citizens have been going out and visiting shopping malls,” he explained. “There has been a significant increase in customers dining out earlier than usual.”

Moreover, delivery platforms have reported a 10 to 15% surge in business during the period.

The bar industry is also capitalising on the Olympic excitement, with one establishment acquiring a fencing games console following Hong Kong's success in the combat sport to allow customers to try it out for themselves.

The industry has indicated that bar business has registered an average increase of about 15% during the Olympics.

Chin Chun-wing, Chairman of the Hong Kong Bar & Club Association, explained that in residential areas, some customers are opting to watch events in bars due to space constraints at home.

“They can only watch the competitions during sleeping hours, pushing them to go out,” he said.

Weekdays have witnessed a noticeable buzz at bars, while Fridays and Saturdays have been even busier, with customers willing to stay until the early hours of the morning. Reservations have increased by about 10%, while walk-in customers have risen by 5% to 10%.

Mr Chin emphasised that major events create a multitude of business opportunities. He expressed hope that the Government will continue to promote the night-time economy in Hong Kong.