Almost five new F&B outlets opening every day shows Hong Kong’s Resilience in the F&B Sector.
By HK Lawyer AJ Halkes Barrister-at-Law
1,779 new licences were issued in a year (according to the SCMP), yet the focus of the paper was on a slight decline in totals.
4.88 F&B outlets opening in Hong Kong every single day is great news … That does not sound like a lack of confidence in Hong Kong’s future to me; on the ground, I also see a willingness to invest and build in the F&B outlets sector that I’ve not seen for a while.
Without full context, the SCMP approach on pure numbers is just clickbait.
What if many of the closures were smaller, less profitable units, while new outlets represent larger, more sustainable and fresh concepts, perhaps employing even more people? This wouldn’t just be a positive sign, it would reflect a broader vote of confidence in Hong Kong as a vibrant, resilient food and beverage hub.
This is a nuance required, and we need to consider it when interpreting figures.
Growth isn’t always about sheer numbers, and minimal declines are not indicative of anything without facts as to quality, sustainability and long-term potential; all these matter and context is everything.
I am all for balanced quality reporting that digs deep, but headline-grabbing informs nobody.
Read the full article:
Hong Kong records first decline in number of licensed restaurants in 6 years
https://lnkd.in/gThmuVeE
If you need specific input regarding a strategic Hong Kong challenge or related legal matters in the HKSAR, you can always DM me and check out my profile at ajhalkes.com.
hashtagHongKongBusiness hashtagFNB hashtagRestaurantBusiness hashtagResilience hashtagEntrepreneurship hashtagBusinessGrowth hashtagHospitality hashtagHongKongEconomy hashtagBusinessStrategy hashtagLeadership
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