HONG KONG, March 7 (Reuters) - Hong Kong, one of the world's top luxury shopping destinations, is losing its lustre as high-end retail properties go vacant and famous foreign brands reduce exposure to the city in favour of opening new outlets in mainland China.
Glitzy Hong Kong shopping streets once packed with luxury stores that attracted 56 million visitors in pre-pandemic 2019 now have about half of their shop units sitting vacant, according to property management companies.
https://www.reuters.com/markets/asia/hong-kong-loses-lustre-retail-units-go-vacant-big-brands-look-china-2023-03-07/