Year of the Monkey Has Not Yet Brought Tourism Money

Hong Kong’s tourist chiefs had hoped the island’s 1997 handover from British to Chinese rule would allow them to tap into the expanding mainland Chinese tourism market. But last year’s SARS outbreak affected both the island and the mainland and shattered Hong Kong’s travel industry. And despite the disease’s decline and China’s recent economic growth, this year’s Chinese New Year celebration has not brought the anticipated wave of mainland tourists. Restaurants and hotels are feeling the financial pinch, and many business owners blame plunging temperatures for their stagnant profits. – YaleGlobal