Club Lunch Panel : Can Hong Kong’s Economy Survive Without Tourism Dollars?

Hong Kong’s economy was already reeling amid the political unrest and then COVID-19 hit, shutting out foreign visitors and tourists. A fresh wave of uncertainty has followed the passage of the national security law, and countries like Canada, Australia and the U.S. are now warning their citizens about future travel to Hong Kong. After months of social-distancing restrictions and the tourist slowdown, retailers, restaurants and bars have suffered. How can Hong Kong businesses weather the storm? What is the future of the city’s restaurant, hospitality and retail industry –- and the economy of the city as a whole? The panelists will discuss the unprecedented economic and business challenges facing Hong Kong, and how it can recover.

Syed Asim Hussain co-founded in 2012 Black Sheep Restaurants, a group that has been at the forefront of Hong Kong’s culinary scene. He grew up in his father’s Hong Kong restaurants during summers home from schooling in Pakistan. In December 2018, he became the world’s youngest restaurateur to hold two Michelin stars when BELON and New Punjab Club were honoured with one Michelin star each. New Punjab Club is the world’s only Punjabi restaurant to be awarded a Michelin star.

Alicia García Herrero is the chief economist for Asia Pacific at Natixis. She is also a senior fellow at the European think-tank, BRUEGEL; an adjunct professor at the Hong Kong University of Science and Technology; and member of the advisory board of Berlin-based China think tank, MERICS. She is an adviser to the Hong Kong Monetary Authority’s research arm (HKIMR) and the Asian Development Bank (ADB), as well as a member of the board of the Hong Kong Forum and co-founder of Bright Hong Kong.

Douglas Young is the Hong Kong-born founder and creative force behind Goods of Desire, a Hong Kong lifestyle brand, whose designs are inspired by the vibrant culture of the city he calls home. Douglas studied to be an architect in the U.K. before returning to Hong Kong and co-founding G.O.D. with fellow architect and designer, Benjamin Lau. In 2015, he was named one of the Debrett’s Hong Kong 100 in the field of art, architecture and design.