Hong Kong’s restaurant industry, grappling with a wave of closures, is now looking to an unexpected source of inspiration—pandas. Yes, you read that right! The arrival of giant panda twins and the anticipated delivery of adult pandas from mainland China on National Day, October 1st, has sparked talk of a “panda economy,” which could offer a lifeline to struggling eateries.
Simon Wong, President of the Hong Kong Federation of Restaurants and Related Trades, has suggested that the city could channel its newfound panda pride into a gastronomic revival. With the restaurant sector’s receipts dropping by 2.1% in the second quarter of 2024, Wong believes panda-themed meals and beverages could provide a much-needed boost. “Imagine Hong Kong as China’s ‘secondary’ panda capital, right after Chengdu,” Wong mused, envisioning a surge in panda-inspired culinary creations that could draw in curious diners.
Adding a somber note to the excitement, People for the Ethical Treatment of Animals (PETA) has raised concerns about the welfare of the pandas involved. The organization’s senior vice president pointed out that while panda programs can draw crowds and support conservation efforts, they often come at the cost of the animals’ well-being. The debate adds a layer of complexity to the potential “panda economy,” reminding us that these iconic animals are not mere marketing tools.
Meanwhile, the restaurant industry faces other challenges, including a trend of Hongkongers spending their money across the border in mainland China, where prices are lower. This exodus has further dampened business for local eateries, with only about a hundred new restaurants opening for every 300 that close.
Interestingly, as international brands retreat, mainland Chinese food and beverage brands are eyeing Hong Kong as their gateway to global recognition. These businesses may not see immediate profits in Hong Kong, but they’re betting on the city’s international platform to boost their visibility.
The numbers paint a clear picture of the shifting culinary landscape. Official data shows a significant drop in receipts for Chinese and non-Chinese restaurants alike, with bars also taking a hit. Yet, fast food outlets have seen a nearly 8% increase in receipts, indicating that while traditional dining experiences may be faltering, the demand for quick, affordable meals remains strong.
Hong Kong’s restaurant industry, battered by the pandemic and ongoing socio-political changes, faces an uncertain future. But in a city that’s constantly reinventing itself, perhaps the answer lies in embracing the unexpected—like a panda-themed milk tea, served with a side of resilience.
(Source: HKFP)
