Businesses in Hong Kong innovate amid economic challenges and rising closures

Hong Kong Economy News

Businesses in Hong Kong innovate amid economic challenges and rising closures
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HONG KONG, Oct 14 — Hong Kong's business landscape is undergoing a transformation as companies employ various strategies to navigate the current economic challenges, marked...

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“The Lounge and Vin et Vin cellar is our creative answer to the currently challenging market,” Wipper stated. A growing number of residents are either choosing to shop and dine in mainland Chinese cities or are opting to cut back on spending following the pandemic. Recent economic forecasts from the University of Hong Kong indicate that the gross domestic product growth is projected to decline from 3.3 per cent in the second quarter to 2 per cent in the third, with a slight recovery expected to 2.4 per cent in the fourth quarter.Christian Talpo, CEO of Pirata Group, told SCMP of their collaboration with Artbridger to display purchasable works from emerging Asian artists across their 26 venues.

Additionally, Pirata Group is moving away from previously popular free-flow drinks packages, instead focusing on healthier alcohol-free options in response to a growing trend of health-conscious diners.

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