Patrons enjoy a drink at a bar in Lan Kwai Fong on May 19, 2022. (CALVIN NG / CHINA DAILY)

Allan Zeman, chairman of Lan Kwai Fong Group in Hong Kong, has been inspired by his group’s 20 percent increase in revenue in August, especially given the summer slump in restaurants elsewhere in the city.

Zeman, dubbed the “Father of Lan Kwai Fong” and a respected opinion leader, expressed surprise at the recent flood of “Mandarin-speaking customers” inundating Lan Kwai Fong’s bars and spending “generously” to get a taste of something unique in Hong Kong, whether flipping through English-language menus and getting lost in the terminology of exotic cuisine or pointing at the names of cocktails without daring to try to pronounce them. 

After Financial Secretary Paul Chan Mo-po announced on Sunday the government’s intention to launch night bazaars in a bid to lure tourists and boost economic performance, Zeman said he is considering encouraging Chinese restaurants to join the nightlife zone to increase its diversity. 

According to Zeman, the sudden increase in revenue amid the headwind of a slow recovery and the rising number of mainland gourmet tourists signaled new value-driven force that is reshaping the special administrative region’s tourism industry.

Zeman said, “We are living through a different world after the pandemic.” By pre-pandemic standards, Hong Kong’s nightlife looks hopelessly bleak after seven months of reopening as many streets are deserted after 9 pm.  

However, the unique culturally rich experiences offered by Lan Kwai Fong have made it a must-visit destination for well-dressed tourists from all over the world, boosting revenues despite the change in habits in the post-pandemic era that has taken a toll on many sectors, especially retail and restaurants.  

The value of total retail sales in Hong Kong peaked at a record high of HK$494 billion ($63.1 billion) in 2013, but plunged to HK$350 billion last year, down 29 percent, according to online data provider Statista. 

The year-on-year growth of Hong Kong’s restaurants’ receipts in terms of value slowed down in the second quarter. Although retail sales jumped 40.8 percent year-on-year in March, the economic recovery has, by and large, fallen short of expectations. 

“Hong Kong should reduce air ticket prices to attract people to the city,” said Zeman, an Airport Authority Hong Kong board member. The city’s aviation industry is expected to resume full capacity towards the end of 2024.

“The city needs to stress its uniqueness and offer things that people cannot experience in other places,” said Zeman, who is also an independent nonexecutive director of Sino Land and Wynn Macao. The business magnate believes that Hong Kong should focus on conventions, golf competitions, exhibitions and jewelry fairs — all of which could make Hong Kong stand out from other tourist destinations. 

“Hong Kong should hold big events and big shows every month to regain its vibrancy, ”said Zeman. “In this regard, the government needs to be visionary and encourage more involvement from the private sector to attract high-spending tourists.”

Hong Kong offers world-class services with special tourist experiences, Zeman said. Even the night bazaar “should be first class — something that people can’t experience anywhere else.” 

Contact the writers at jessicachen@chinadailyhk.com