HONG KONG: Hong Kong’s restaurant earnings logged a record decline last year, dropping 29.4% from 2019 as the Covid-19 pandemic and sweeping social-distancing regulations took a devastating toll on the city’s catering sector.
The Census and Statistics Department revealed that overall restaurant receipts for 2020 shrank to HK$79.4 billion (308 billion baht), down from HK$112.5 billion in 2019.
In the fourth quarter, restaurant earnings plunged 25.1% to HK$19.5 billion from HK$26 billion over the same period a year ago.
Hong Kong has been hit by four successive waves of Covid-19, which have left restaurants and other businesses reeling as multiple rounds of…
