6 Days of Protests in Hong Kong Have Damaged the Economy for $ 357 Million
The Hong Kong economy has lost at least $ 2.8 billion ($ 357 million) because of the riots over the last six days. This was reported today by the South China Morning Post, citing local experts, TASS reported.
Analysts say the damage to retail, transportation, restaurants and hotels over the weekend and Monday reached $ 1.9 billion ($ 242 million).
Losses to Hong Kong subway operator - Em Tire Company (MTR) over the weekend could reach HK $ 500 million ($ 63.7 million). On Saturday, for the first time in the history of the subway, it stopped working completely after acts of vandalism by protesters, and on Sunday the system was partially operational.
Due to the chaos and the collapse of the city, many shopping malls, shops and restaurants remained closed. Hotel occupancy has plummeted from 95 to 50 percent, despite the heavy depreciation of overnight stays.
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