The continuing protests in the Chinese metropolis frighten many business travelers. As a result, the hotels in Singapore benefit from the Hong Kong crisis by receiving more guests.
The unrest in Hong Kong, which has lasted for three months now, increased the occupancy rates of hotels in Singapore. In July, the average occupancy rate was 93.8%, according to the City State Department of Tourism. The turnover per available room climbed to $203.70, the highest value for about four years.
Both leisure and business travelers prefer Singapore over Hong Kong, say experts. The reason is the mass protests in Hong Kong which partially paralyzed the airport already. The Global Wellness Summit, a meeting of around 600 delegates of the health and cosmetics industry scheduled for mid-October, recently announced the relocation from Hong Kong to Singapore. The spokeswoman for the event said that this should ensure "that the trip goes as smoothly as possible".
Experts emphasize that the prospects for September and the rest of the year for Hong Kong remain bleak. For more than three months, thousands of people have been taking the streets in Hong Kong protesting against China's growing influence. They fear a curtailment of their rights and accuse the head of government Carrie Lam of being too close to the communist government in Beijing.
The former British Crown Colony of Hong Kong has been a Chinese Special Administrative Zone since 1997, and its inhabitants enjoy greater personal freedoms than in the People’s Republic.