What losses has Hong Kong’s negative economic growth caused to local people’s livelihood?

The main reason for the negative growth of Hong Kong's economy is the epidemic, which will bring great difficulties to the local people's livelihood. Since Hong Kong is mainly based on the tourism industry, the epidemic has caused heavy losses to the world's tourism industry. Therefore, Hong Kong, a tourist destination that caters to tourists from all over the world, is the first to bear the brunt. Coupled with the lack of a real economy and relying on the dividends brought by cash flow from tax exemptions, negative economic growth in Hong Kong is inevitable.

Since this year, Hong Kong’s economy has been affected by the COVID-19 epidemic. Three consecutive waves of epidemic outbreaks have seriously threatened Hong Kong’s economic production and consumption activities. On August 14, the Hong Kong government released the "2020 Half-year Economic Report and Latest Economic Forecast" report, which showed that Hong Kong's economy contracted significantly in the second quarter.

At present, Hong Kong is also the region with the worst epidemic situation in China. It has always been in a leading position in the number of new cases every day. The number of existing confirmed cases is also far ahead, so the recovery of its tourism industry has not yet seen the dawn. The shortcomings of a relatively single industry are fully revealed. Although the Chinese people are willing to help Hubei, they are powerless. Hong Kong does not even have hot and dry noodles. Even the film and television industry, which it has always been proud of in the past, has lost its former glory.

The epidemic has put Hong Kong’s employment in trouble. The successive waves of epidemic peaks have put companies that were originally preparing to open at risk of closing down. Workers who are in urgent need of employment and make money have no choice but to almost enter a In a vicious circle, both companies and workers are facing survival difficulties, and companies and workers who lack income have lost the ability to consume, thus causing the economy to enter a continued downturn.

We know that without employment, there is no income, and without income, there is no consumption. These are an interlocking economic chain. Negative economic growth will become more and more serious, and the continued downturn in the tourism industry has also given rise to The negative impact of business operations has caused many companies to face the situation of losing business even if they do not open for business.

It can be said with certainty that if the epidemic cannot be controlled, the retail industry will be hit if there is a lack of consumer groups, and the manufacturing industry is short of workers in Hong Kong, so controlling the epidemic is the primary issue. Only by controlling the epidemic Only then can citizens come out for normal consumption and tourists can come here to travel. Tourism will naturally drive the retail industry. After all, Hong Kong’s tax-free advantages are very obvious, especially for electronic products and various luxury stores. Currently, only Hainan Island in China can compete with Comparably, most other tax-free policies can only be enjoyed at the airport.

Although some experts predict that Hong Kong’s economy will improve in September, this mainly depends on the control of the epidemic. If it succeeds, everything will be easy. If it fails, the economy will continue to decline. For From the outside, they are helpless and can only watch and worry. Otherwise, according to Chinese tradition, all parties will support one side when it is in trouble. Wuhan, Hubei is a typical example, as well as Dalian and other places, all of which are affected by the country. people's concern.

This is a fine tradition of the Chinese people and a proud national characteristic. I believe that Hong Kong will be able to survive.