Mixed views on Olympics business sentiment
Industry representatives on Monday expressed mixed feelings about business sentiment during the Olympics, despite seeing a boost in foot traffic. Allan Zeman, chairman of the Lan Kwai Fong Group, told RTHK that he expects bar takings to surge as much as 10 percent during the Games.  He said people might feel in the mood to spend after fencer Vivian Kong won a gold medal, but their elation wouldn't last long. “If they're happier, then they will be in a better mood to either buy retail or if they're in a bar with friends watching the Olympics, normally it's conducive to spending some money. I'd say if anything, it'll be maybe a 10 percent [sales increase] at best, but it's not going to be a huge game changer,” he said. Zeman said he doesn't believe the Games will persuade people to keep spending more in the long-run. “Unfortunately, once the Games finish, then I think people will go back to normal,” he said, adding that the key to bringing back a “vibrant nightlife scene in the city” relies on hosting more international events to attract tourists.  Meanwhile, Fung Wing-yan from Sun Hung Kai Properties’ leasing department said the apm mall in Kwun Tong, which is showing the Games, saw an increase in foot traffic of at least 10 percent over Saturday and Sunday, compared to the previous weekend. Fund told an RTHK programme that she believes the public became more engaged with the Olympics from the Tokyo Games, when they enjoyed watching the events together in malls. Simon Wong, president of the Hong Kong Federation of Restaurants and Related Trades, told the same programme that he saw a surge in customers at restaurants with televisions on Sunday.  He said he expects a 15 to 20 percent overall increase in business during the Olympics.