Business News
Hong Kong loses more than 800 restaurants as recession bites deep
Apr 12, 2010, 3:46 GMT
Hong Kong - Hong Kong is losing restaurants at the rate of around 200 a year as the economic downturn eats into people's appetite for eating out, a news report said Monday.
The number of restaurants in the city of 7 million people, which is famous for its mix of Chinese and western cuisine, fell from 12,354 in 2005 to 11,539 in 2008, the South China Morning Post said.
However, the number of people working in restaurants over the same period grew from 185,853 to 224,210 as smaller restaurants closed and large restaurant chains prospered, the newspaper said.
The figures, drawn from government statistics, appear to show a trend towards cheaper restaurant chains while smaller and often more expensive speciality restaurants lose custom.
Even with the loss of more than 800 restaurants over the three-year period, however, Hong Kong still has one restaurant for every 600 residents.
The city, which last year hosted a year-long culinary promotion called Hong Kong Food and Drink Year, also has enough restaurants for one person to eat out at a different venue every day for 31 years.
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