everyones spending less in HK. Restaurants are cutting portions, increasing costs, providing less value overall. Many head over across the border by happier meals. Smart business man, wish him the best.
This sounds more like a show to his investors to justify the spend. The drop in spend is not because the younger generation drink less, it is because the monied generation are feeling the pinch and have mostly left HK.
@@neon415 “Monied” by what definition? In terms of the ultra wealthy and I personally know through private member clubs are all staying in Hong Kong in the long run. Only the middle and upper middle class have left which weakens spending dramatically. But those who call the shots and have the funds to back it up are essentially all still bullish on Hong Kong
@@adriankwok0331 totally agree with what you said. The ones that left are those mid to mid-upper class with more money than the average, but not yet ultra rich upper class. Those are the ones who are most afraid, and most vulnerable, of their wealth being shrink down to mid and mid-lower class. The ultra rich already has their firm grip on HK, and they will make their money one way or another.
Or maybe it’s because 100,000 expats left and it’s cultural….I don’t know many local middle class families that will order a bottle of wine or beer while having dinner with the kids.
Yeah mainly becoz our food do not contain gutter oil. I think a big first step for him to drive down cost and to maintain profitability is to replace high quality olive oil with gutter oil and to source food from sources with lower safety and quality standards, the mainland consumers are used to eating food at that low level in mainland anyways, anything extra would be a waste and not noticeable by the palettes of mainlanders.
oh and i forgot the most important thing, make it spicy, the mainlanders can forgo the natural taste of the food but no spicy and no gutter oil, thats an automatic big NONO bad review
I can see and feel the hate conversation, here. Regardless of what they eat or not, they are the customers. Mainlander's life expectancy is higher than you guys are in general, according to UN. Simply put, if can't make a businees there, lock your door and move out. No need to hate. You know your cooking is suck when customers walk away.
Rajasthan Rifles provides Anglo-Indian fusion cuisine. He literally in the same sentence explains how the demographics of HK are becoming more Chinese. It's a pretty big risk, because if you know any Chinese families - Anglo-Indian food is not typically at the top of the menu.
I can see a clear shift in HK's economy these past 5 years. I also see a large decrease of people in general. When I visited often in the past, there were so many people out on the streets. But nowadays, there is noticeably fewer people, especially at night.
Fact of the matter is the land owner overvalued the land, which then the cost got passed down to the business operators, which tried to pass onto the consumer. People got tired and decided to go elsewhere. So business is dying, they tried to spin it into some politics play
High class restaurants may still have a chance because there are still a lot of rich people in hong kong. For the low price eateries, no chance. Very poor services and food are with low standard.
When he said he welcomes competition from the Mainland, that awkward smile says it all. He knows he's going to get crushed and the dining scene in HK is gonna get trashed. Seriously, how many franchise Mainland noodle / hotpot restaurants do you actually need??
@@GJAllKnowing If he tries to expand into the ‘affordable’ range he’ll get crushed. But their current offerings are in a different market segment. Nobody is comparing cart noodles or hotpot with fine dining. I’m not cross shopping between a Toyota and a Porsche.
I would like to open more wines while dining out but the mark up is so high. Also choices for wine per glass are so limited now. Not every table can finish a bottle
Yeah, you are usually paying 4-5x the real price. Even the ‘affordably priced’ bottles are like 800+ hkd for some supermarket garbage that you can get for 100-200. Unless it’s special occasion just drink at home.
He sounds like a banker rather than a restaurant owner, which is a big red flag for me. I want food, service, and ambience, not numbers, margin, and spending.
I have personally worked with Asim at Carbone when it first opened. Trust me, he’s smart yet very humble. The first time I met him, he was literally moving produce and goods into the restaurant himself and I almost mistook him for a mover. About the banker part though, I mean, it’s Bloomberg …
@ First, I understand that this is a PR push, but there can be clever ways to do it, such as WSJ interviewing Red Lobsters’s new CEO, and they operates over 500 locations.
@@kevinkan6377 The only black sheep restaurant I have visited is the one at the peak. It was okay, but I would be lying if I say I were impressed by the food.
The hong kong Meeting,Exhibition, convention scene is really bad. Most accompanying clientele that participate in Fine Dining and wine are avoiding Shanghai ,Macau and Hong Kong. For example the turn up rate data for the Hongkong jewellery show is less than ideal and the global audience it should had attracted avoided Hong Kong due to ambiguous HK/Chinese hybrid security law.
the big drinkers expats from US, UK and Australia leaving HK is the real reason for drop in alcohol consumption as well as high end spending. The casual Chinese tourists spend is much less. Is he paid by HK Government seems very eager to sell the story of business as usual or recovering at a time when there is still a lot of uncertainty with Trump and US stance on HK. One push of canceling HK swift access he will not be smiling for a long time.
Agreed. Also those young Kong girls who planned to date westerner used to drink a lot just for dating. Now there is no more westerner. So they do not drink also..
@@leealex24 I have been never spend $100US in Hong Kong for a dinner. But i have miles to spend 4 trips(sector) of business class flights in different airlines company in a year before covid. yet in 2024..none. back to year 2023…i flew only once and lay overnight in Changyi for budget airliners.
For somebody who lives in Hong Kong for over 10 years, I see the Hong Kong making new opportunity for F&B business every day every month every year but without really understanding of existing customers.
HK property crash, of course people are dining out less. HKers leaving HK and back filled by mainlanders. HK will be less and less HK and more and more China.
@@theotheleo6830exactly. People say that as if it’s a negative thing, it’s no longer colonial times and we don’t “need” western expats to be overpaid when we have more gifted talent just across the border
Nah I prefer old HK. The influx of mainland Chinese people have changed what was once a beautiful HK. If i want to experience mainland Chinese culture and hear Mandarin, I'll go to China. Chinese/Australian here
because HKongers will not forget 2019 and will stop spending to let these money seekers collaborating with the evil authority! Possibly, you are one supporter of them! Hk was destroyed! It will be against true HKongers will if this evil city rises again under the current vicious government!
RMB and HKD are the same. But the cost of goods in HK is significantly higher. So Chinese tourists aren't spending much when going there. But for expats, the cost are still affordable, therefore more foreign consumers would partake in the economy. Now, with the exodus of so many expats, keeping the economy afloat will be a challenge.
I haven't found this trouble "globally". In contrast, I found that booking an ideal restaurant in Japan, Australia, and even mainland China is getting even more difficult. This group should reflect on itself in terms of food quality, service, and pricing. It is funny that Black Sheep is complaining about this so-called "global trend", because I have tried probably 5 restaurants run by this group, and actually 4 of them were disasters. Keep fooling your investors, but the consumers won't come back.
HK is now focusing on mass tourism (being the Asian business center seems a second-order priority), 90% of the visitors being from mainland China with a low average budget not adapted to mid/high-end restaurants of Black Sheep. I believe it is going to be a tough situation in HK as long as the financial services and luxe sector does not recover, attracting again high-skilled and high-paid talents (expats and others, who went to Singapore). Shenzhen is 30 minutes away by bullet train from HK, and literally offer 50% cheaper service
Would love to see the F&B sector not just talking sustainability but actually adopting the use of sustainable cleaning solution as daily use of cleaning products is highly impacting the environment there are cradle to cradle certified products which have a significant lesser impact but all we hear are excuses , as a consequence i don’t eat out at restaurants where i don’t know what they practising .
For one thing how about being able to consistently serve Cantonese speaking customers? Maybe that’ll help attract your local population instead of just relying on expats for business?
True Hong Kongers don't want to go back to Hong Kong where the White Imperialists were having their Exceptionalism. It's about time the local are treated with dignity and not look down upon in their own land by the Imperialists.
People bearish on Hong Kong in the comments is hilarious. Enjoy your high taxes, shit infrastructure, and migrant problem in Europe. Enjoy staleness and tackiness in Dubai and Singapore. I could go on, but HK is still the place to be, by far.
@@TubeRobRoy The only people who say that are: 1. The rioters and their supporters who are salty that their movement failed 2. People who have never been to Hong Kong and were never going to go anyway.
So...with the demographic shifting from westerners to mainland Chinese expats and the fact that even locals are heading north on weekends for meals, do you think these mainlanders won't? The food in Shen when is cheaper and more to their taste plus they're served by people who speak their language (literally and figuratively). There really is no point eating out now. Its so expensive and alot of times you're just not full. For foreigners who don't know, a typical meal is easily $25-50 USD here.
Whether Hong Kong remains a land of opportunity or stages a comeback as a global economic powerhouse is heavily contingent upon China’s broader policies-particularly whether Beijing chooses to align more closely with Western values of openness, free markets, and transparency. Should China adopt such an approach, there would be little to hinder the return of talent, capital, and businesses, which could once again flood into Hong Kong, restoring its former vibrancy as a global financial hub. However, gazing into the proverbial crystal ball, this scenario appears increasingly improbable. The Chinese central government has been steadily recalibrating its economic priorities, focusing on the Greater Bay Area (GBA) as the engine of future growth and innovation. This strategic pivot suggests that Hong Kong’s traditional role as China’s gateway to the world may continue to diminish. Instead, cities like Shenzhen and Guangzhou, which align more closely with Beijing’s vision of integrated development and technological advancement, are poised to take center stage. Against this backdrop, Hong Kong risks becoming an outlier-a “black sheep” straying from the herd, only to walk itself into the proverbial slaughterhouse. Those still clinging to the notion that Hong Kong represents boundless opportunity may be setting themselves up for significant disappointment, or worse, serious financial and strategic missteps. While Hong Kong retains some of its legacy appeal, its future as a thriving, autonomous economic center remains deeply uncertain in light of China’s shifting priorities.
To grow in the luxury segment you need the kind of service attidude and staff you simply don’t find in Hong Kong anymore and guests are more demanding than they used to be so why spend on so called luxury dining when i can entertain at better quality and style at home ? It’s an attidude issue of the industry not a market issue ,
Their restaurants are pricey. I've eaten at many of them. recently went to their Pizza and Pasta joint in IFC and a Pizza costs 35-40USD each. Not a good look for the level of food they are serving as it's not even fine dining.
10 years ago when I was new to the work force, when I was out with my superior for dinner, I was almost obligated to drink alcohol although I'm not into alcohol. Fast forward now, when I bring my team out, because I don't order alcohol, majority of my team don't drink alcohol as well. Is it because they were not drinkers as well or I set the tone is my guess.
Young people 20 years ago could afford to go out . Everything wasnt so expensive, realtively speaking oc. Fine dining has been changing for at least 20 years. What will the next 20 look like is the question.
Western propaganda will say HK is doing badly because of etc etc. Trust me …..most major cities in Asia is not doing well as the region is just recovering from Covid . Business is only humdrum . High end restaurants are the first to be hit. It is easier to downgrade from a $500 live fish and have a frozen fish instead. Or a Mccallan 18 to a Mccallan 15. We are all saving monies by curbing excesses as inflation is high.
Hong Kong is indeed doing badly comparing with other vital Asian cities. In Hong Kong, we the foreign travelers feel an immensely dejected vibe. No doubt the global economy is not as flourishing as years ago, but the overall sentiments in Osaka, Tokyo, Taipei, Bangkok and even Jakarta are dark and despair like that. My brother and colleagues from Australia who lived in Hong Kong for over 10 years left in 2023.
You want to see a dead city, come to San Francisco 😂🤦🏻♂️ Hong Kong’s pandemic struggles are nothing compared to SF where uncontrolled “freedom” (crime) has ruined everything.
@@ednasalinas8280every Asian city is feeling the pinch. Everybody in Taipei, Seoul, etc. feel hopeless about achieving financial independence. Hong Kong has a decent opportunity. Housing prices are down from world record levels. This is, in some way, what the locals always wanted. Less global money pricing out the working class. That’s the price of being an international city that HK has been paying for the past 40 years.
the fact that you need to compare it to other city is already indicative of how bad it is. Why don't you compare it to what it was? oh wait, truth will be hard for you to swallow 😂😂😂
Hong Kong benefited greatly from the Mainland being “closed-off” for decades. eg. trade, transpo, finance; much stemming from western preferential treatment. The ride is coming to an end as they’re being pinched. The mainland has created many economic alternatives to HK and are in the process of replacing the native population. It will become just another port city in their portfolio. As that becomes more apparent the US will treat it as such and squeeze from the other side. 🦀 We’re seeing amendments to the relation from the ending of HK’s special status in 2020 to the HK autonomy act to the 2024 HK policy act. The market will adjust accordingly.
everyones spending less in HK. Restaurants are cutting portions, increasing costs, providing less value overall. Many head over across the border by happier meals. Smart business man, wish him the best.
Mr Hussain is infamous in Hong Kong market for delayed payment to suppliers.
@@濠-g4m Thats how the South Asian works i presume
@@superlogistics1 it's now the F&B industry works
just him only?
@@antediluvianclockwork9769 one of many
@@superlogistics1What sort of prejudice are you holding when making this comment?
This sounds more like a show to his investors to justify the spend. The drop in spend is not because the younger generation drink less, it is because the monied generation are feeling the pinch and have mostly left HK.
@@neon415 “Monied” by what definition? In terms of the ultra wealthy and I personally know through private member clubs are all staying in Hong Kong in the long run. Only the middle and upper middle class have left which weakens spending dramatically. But those who call the shots and have the funds to back it up are essentially all still bullish on Hong Kong
@@adriankwok0331 totally agree with what you said. The ones that left are those mid to mid-upper class with more money than the average, but not yet ultra rich upper class. Those are the ones who are most afraid, and most vulnerable, of their wealth being shrink down to mid and mid-lower class. The ultra rich already has their firm grip on HK, and they will make their money one way or another.
Or maybe it’s because 100,000 expats left and it’s cultural….I don’t know many local middle class families that will order a bottle of wine or beer while having dinner with the kids.
Anyhow wealthy people can leave HK ANYTIME
As a Hongkonger, Black Sheep restaurants are not value for money. Thats the reason why I am not going there again.
They are very expensive. Some are pretty good, some are just so so
This poor guy is putting on a good face . mainlander consumers are not going to be the same clientele as what he had built his restaurant profile on.
Yeah mainly becoz our food do not contain gutter oil. I think a big first step for him to drive down cost and to maintain profitability is to replace high quality olive oil with gutter oil and to source food from sources with lower safety and quality standards, the mainland consumers are used to eating food at that low level in mainland anyways, anything extra would be a waste and not noticeable by the palettes of mainlanders.
oh and i forgot the most important thing, make it spicy, the mainlanders can forgo the natural taste of the food but no spicy and no gutter oil, thats an automatic
big NONO bad review
Those loser Westerners have no money
I can see and feel the hate conversation, here. Regardless of what they eat or not, they are the customers. Mainlander's life expectancy is higher than you guys are in general, according to UN. Simply put, if can't make a businees there, lock your door and move out. No need to hate. You know your cooking is suck when customers walk away.
@@bhouseboys You must be a failed UK gweilo still living in past colonial times.
Rajasthan Rifles provides Anglo-Indian fusion cuisine. He literally in the same sentence explains how the demographics of HK are becoming more Chinese. It's a pretty big risk, because if you know any Chinese families - Anglo-Indian food is not typically at the top of the menu.
I can see a clear shift in HK's economy these past 5 years. I also see a large decrease of people in general. When I visited often in the past, there were so many people out on the streets. But nowadays, there is noticeably fewer people, especially at night.
Fact of the matter is the land owner overvalued the land, which then the cost got passed down to the business operators, which tried to pass onto the consumer. People got tired and decided to go elsewhere. So business is dying, they tried to spin it into some politics play
@@kwfown I am glad to see the land owner still insist their views
High class restaurants may still have a chance because there are still a lot of rich people in hong kong. For the low price eateries, no chance. Very poor services and food are with low standard.
Your presentation is highly interesting to watch. Thank you very much and take care. 😊
Very interesting interview, no rethotic just an economical analysis.
This certainly breaks the heart of some Hong Kongers especially those who now enjoying long night and short day somewhere.
good interview
Smart and highly articulate. No wonder Black Sheep is doing so well in HK.
Another CCP bot?
sounds like a banker more than a resto guy😂
a laid-off banker😂
US$300 for a meal? no thanks, even US$100 is too expensive per person.
When he said he welcomes competition from the Mainland, that awkward smile says it all. He knows he's going to get crushed and the dining scene in HK is gonna get trashed. Seriously, how many franchise Mainland noodle / hotpot restaurants do you actually need??
@@GJAllKnowing If he tries to expand into the ‘affordable’ range he’ll get crushed. But their current offerings are in a different market segment. Nobody is comparing cart noodles or hotpot with fine dining. I’m not cross shopping between a Toyota and a Porsche.
wow a sweeping statement however interesting point
HK it’s no longer an international travel destination. So glad I have great memories of the city traveling there in the past before the CCP takeover .
Hong Kong is part of China, deal with it.
Singapore is the new HK for obvious reasons
The CCP took over in 1997.
You are right that is how a lot of people feel, but for tourists visiting the city, not much changed, at least not dramatically.
Any locals who want to spend are heading to Shenzhen for their weekend. For the same price you get more on everything
I would like to open more wines while dining out but the mark up is so high. Also choices for wine per glass are so limited now. Not every table can finish a bottle
Yeah, you are usually paying 4-5x the real price. Even the ‘affordably priced’ bottles are like 800+ hkd for some supermarket garbage that you can get for 100-200. Unless it’s special occasion just drink at home.
He sounds like a banker rather than a restaurant owner, which is a big red flag for me. I want food, service, and ambience, not numbers, margin, and spending.
@@zhhu5660 Black Sheep has over 40 restaurant with different brands in Hong Kong. Of course he talks more about money than food and services.
I have personally worked with Asim at Carbone when it first opened. Trust me, he’s smart yet very humble. The first time I met him, he was literally moving produce and goods into the restaurant himself and I almost mistook him for a mover.
About the banker part though, I mean, it’s Bloomberg …
@ First, I understand that this is a PR push, but there can be clever ways to do it, such as WSJ interviewing Red Lobsters’s new CEO, and they operates over 500 locations.
@@kevinkan6377 The only black sheep restaurant I have visited is the one at the peak. It was okay, but I would be lying if I say I were impressed by the food.
The hong kong Meeting,Exhibition, convention scene is really bad. Most accompanying clientele that participate in Fine Dining and wine are avoiding Shanghai ,Macau and Hong Kong. For example the turn up rate data for the Hongkong jewellery show is less than ideal and the global audience it should had attracted avoided Hong Kong due to ambiguous HK/Chinese hybrid security law.
the big drinkers expats from US, UK and Australia leaving HK is the real reason for drop in alcohol consumption as well as high end spending. The casual Chinese tourists spend is much less. Is he paid by HK Government seems very eager to sell the story of business as usual or recovering at a time when there is still a lot of uncertainty with Trump and US stance on HK. One push of canceling HK swift access he will not be smiling for a long time.
He's a businessmen he has to keep happy face otherwise his backers will pull out
Agreed. Also those young Kong girls who planned to date westerner used to drink a lot just for dating. Now there is no more westerner. So they do not drink also..
White people dont spend anythint,they get a cheap beer and sit all day
I’ve tried a few black sheep restaurants, all over priced and not good enough for me to return unfortunately…
US$300 for a meal? no thanks, even US$100 is too expensive per person.
Prepare some cup noodles after fine dining. Coz usually leave restaurant hungry
No tips in HK so it’s still cheaper than the US
@@leealex24 I have been never spend $100US in Hong Kong for a dinner.
But i have miles to spend 4 trips(sector) of business class flights in different airlines company in a year before covid.
yet in 2024..none. back to year 2023…i flew only once and lay overnight in Changyi for budget airliners.
For somebody who lives in Hong Kong for over 10 years, I see the Hong Kong making new opportunity for F&B business every day every month every year but without really understanding of existing customers.
What do you actually mean? HK's food-scene is amazing compared to most other cities..
@@TubeRobRoy kuala lumpur is good
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HK property crash, of course people are dining out less. HKers leaving HK and back filled by mainlanders. HK will be less and less HK and more and more China.
As it should be. HK is no longer a Brit colony, after all.
@@theotheleo6830exactly. People say that as if it’s a negative thing, it’s no longer colonial times and we don’t “need” western expats to be overpaid when we have more gifted talent just across the border
Shud it be filled with drunk pinks and third world browns
Nah I prefer old HK. The influx of mainland Chinese people have changed what was once a beautiful HK. If i want to experience mainland Chinese culture and hear Mandarin, I'll go to China. Chinese/Australian here
@@morechillis You can always go to Guangzhou, China if you want to hear Cantonese.
As ordinary people, we can make a difference by refusing to spend money on CCP-supported entities. Let's not fund the CCP.
CCP-supported entities......such as this restaurant owner who isn't even Chinese?
Tought times for everyone in any business around the world right now for sure
I think he's a pretty solid, knowledgeable, authentic dude. Surprised with some people here making him out like some snake oil banker-salesman.
For a propagandist is it
because HKongers will not forget 2019 and will stop spending to let these money seekers collaborating with the evil authority! Possibly, you are one supporter of them! Hk was destroyed! It will be against true HKongers will if this evil city rises again under the current vicious government!
RMB and HKD are the same. But the cost of goods in HK is significantly higher. So Chinese tourists aren't spending much when going there. But for expats, the cost are still affordable, therefore more foreign consumers would partake in the economy. Now, with the exodus of so many expats, keeping the economy afloat will be a challenge.
Very smart man.
They have to adapt to the new expats (mainlanders). Otherwise they won’t survive
I haven't found this trouble "globally". In contrast, I found that booking an ideal restaurant in Japan, Australia, and even mainland China is getting even more difficult. This group should reflect on itself in terms of food quality, service, and pricing. It is funny that Black Sheep is complaining about this so-called "global trend", because I have tried probably 5 restaurants run by this group, and actually 4 of them were disasters. Keep fooling your investors, but the consumers won't come back.
HK is now focusing on mass tourism (being the Asian business center seems a second-order priority), 90% of the visitors being from mainland China with a low average budget not adapted to mid/high-end restaurants of Black Sheep. I believe it is going to be a tough situation in HK as long as the financial services and luxe sector does not recover, attracting again high-skilled and high-paid talents (expats and others, who went to Singapore). Shenzhen is 30 minutes away by bullet train from HK, and literally offer 50% cheaper service
Nobody wants to pay higher price for food. Another problem is the rent in HK city. It has been up.
Would love to see the F&B sector not just talking sustainability but actually adopting the use of sustainable cleaning solution as daily use of cleaning products is highly impacting the environment there are cradle to cradle certified products which have a significant lesser impact but all we hear are excuses , as a consequence i don’t eat out at restaurants where i don’t know what they practising .
For one thing how about being able to consistently serve Cantonese speaking customers? Maybe that’ll help attract your local population instead of just relying on expats for business?
come to Singapore
Dude.. there is no come back to hong kong. hope you can recover your money
I mean he is talking about his business gradually coming back, so I’m not sure what you mean there.
@@canto_v12 He believes hong kong is gradually coming back. But i wish him luck with everything.
True Hong Kongers don't want to go back to Hong Kong where the White Imperialists were having their Exceptionalism. It's about time the local are treated with dignity and not look down upon in their own land by the Imperialists.
@hongqi5734 you must be real fun at parties. Do you ever take a moment to read back what you write ?
His presentation is simply out of the same deck from his investors presentation. This group will not be profitable in Hong Kong.
His restaurants are all in the financial district and cater to yuppies. As a HK local i see nothing of interest for me.
People bearish on Hong Kong in the comments is hilarious. Enjoy your high taxes, shit infrastructure, and migrant problem in Europe. Enjoy staleness and tackiness in Dubai and Singapore. I could go on, but HK is still the place to be, by far.
Yeah it's extremely black and white, 2017 HK was the hit, now it's the shit, like seriously, its mostly the same city? Shades of grey please..
@@TubeRobRoy The only people who say that are:
1. The rioters and their supporters who are salty that their movement failed
2. People who have never been to Hong Kong and were never going to go anyway.
So...with the demographic shifting from westerners to mainland Chinese expats and the fact that even locals are heading north on weekends for meals, do you think these mainlanders won't? The food in Shen when is cheaper and more to their taste plus they're served by people who speak their language (literally and figuratively).
There really is no point eating out now. Its so expensive and alot of times you're just not full. For foreigners who don't know, a typical meal is easily $25-50 USD here.
Investing half of 30 million? That’s is peanuts. Going long on what basis? What are the fundamentals in your foresee turnaround?
This interview is meaningless. Please show some data and/or video. Nobody cares about your opinions.
Cheap produce with spicy gravies. Clever talking!
Economy depends on politics, can't separate the two
Sounds like a purveyor of snake oil.
smart man
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Whether Hong Kong remains a land of opportunity or stages a comeback as a global economic powerhouse is heavily contingent upon China’s broader policies-particularly whether Beijing chooses to align more closely with Western values of openness, free markets, and transparency. Should China adopt such an approach, there would be little to hinder the return of talent, capital, and businesses, which could once again flood into Hong Kong, restoring its former vibrancy as a global financial hub.
However, gazing into the proverbial crystal ball, this scenario appears increasingly improbable. The Chinese central government has been steadily recalibrating its economic priorities, focusing on the Greater Bay Area (GBA) as the engine of future growth and innovation. This strategic pivot suggests that Hong Kong’s traditional role as China’s gateway to the world may continue to diminish. Instead, cities like Shenzhen and Guangzhou, which align more closely with Beijing’s vision of integrated development and technological advancement, are poised to take center stage.
Against this backdrop, Hong Kong risks becoming an outlier-a “black sheep” straying from the herd, only to walk itself into the proverbial slaughterhouse. Those still clinging to the notion that Hong Kong represents boundless opportunity may be setting themselves up for significant disappointment, or worse, serious financial and strategic missteps. While Hong Kong retains some of its legacy appeal, its future as a thriving, autonomous economic center remains deeply uncertain in light of China’s shifting priorities.
Hong Kong is dead. I was there in like 2017? Hong Kong was the “it” place to be. Just went back in 2024, it’s dead. Not going back anytime soon.
K
Well hopefully demand for housing will be reduced and actual locals can afford homes.
stop lying please.
@@eliso5973 What he said was very true. I visited Hong Kong in 2017 and 2024. It has changed, to the worse I must say.
@@nulnoh219this. Hong Kongers wanted this. Now they have to accept the consequences for their choices.
Chinese have hard time borrowing money. Due to sancation issue or communist geopolitical tensions. Global government and Banks check..
Foreign investment has fled China. Too much IP theft.
To grow in the luxury segment you need the kind of service attidude and staff you simply don’t find in Hong Kong anymore and guests are more demanding than they used to be so why spend on so called luxury dining when i can entertain at better quality and style at home ? It’s an attidude issue of the industry not a market issue ,
Blacksheep restaurants have always been so pricey and the food just standard
This is an interesting interview to invite people to do interview but turning out sounds like....
I used to like this group's restaurants, but the quality has dropped drastically. I haven't been in a while.
@appleofeden22 I fully agree, Carbone is like that, and prices are up....
Grabbed a small allocation in the Alemio presale. It seems promising, but only time will tell if it delivers.
Hey folks, Alemio’s presale process has been smooth so far. Definitely worth a closer look.
Almost believable....but at least he's towing the "party's" storyline....
Hey everyone, Alemio Network’s presale is nearly full. Feels like a good time to get in early.
A mess
8:14 Did he say high TEENS
@@nictse500 fine dining is generally a lower margin game
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Alemio’s presale is moving fast. I got in, but I’ll be watching closely to see if the team delivers on their promises.
Alemio is one of the more interesting presales I’ve seen this year. Worth checking out for the AI angle.
The presale bonuses are nice, but I’m more interested in how Alemio’s AI tools will stand out in a crowded market.
yeah, Come back story happening in 2035😂
2044
You believe in what he said? :)
HK is no HK
free advertising
Their restaurants are pricey. I've eaten at many of them. recently went to their Pizza and Pasta joint in IFC and a Pizza costs 35-40USD each. Not a good look for the level of food they are serving as it's not even fine dining.
Restaurants owners are just too too too greedy, not rental is high, nor wages are high, they just too greedy in every aspects
10 years ago when I was new to the work force, when I was out with my superior for dinner, I was almost obligated to drink alcohol although I'm not into alcohol. Fast forward now, when I bring my team out, because I don't order alcohol, majority of my team don't drink alcohol as well. Is it because they were not drinkers as well or I set the tone is my guess.
Hey everyone, Alemio’s vision for scalable DeFi is unique. Grabbed a small position in the presale.
HK cannot compares to London and NY anymore, you can compare it to 广州、成都 etc . Open more mala hotpot places to entertain those new hkers la 🤣
HK was never comparable to London and NY in terms of tourism. Don't view the past with rose-tinted glasses.
I usually don’t jump into new projects, but after seeing the potential with Alemio Network, I’m in. Time to diversify my portfolio!
Hey everyone, Alemio’s roadmap is ambitious, but their team seems capable. Took a chance on the presale today.
i just had a look at he menu of the Magistracy. 100 Pounds sterling for dover sole! Ridiculous.
Dream on ….
Hey folks, Alemio’s roadmap is ambitious, but the team seems capable. Worth checking out.
Young people 20 years ago could afford to go out . Everything wasnt so expensive, realtively speaking oc. Fine dining has been changing for at least 20 years. What will the next 20 look like is the question.
Western propaganda will say HK is doing badly because of etc etc.
Trust me …..most major cities in Asia is not doing well as the region is just recovering from Covid .
Business is only humdrum .
High end restaurants are the first to be hit.
It is easier to downgrade from a $500 live fish and have a frozen fish instead.
Or a Mccallan 18 to a Mccallan 15.
We are all saving monies by curbing excesses as inflation is high.
Hong Kong is indeed doing badly comparing with other vital Asian cities. In Hong Kong, we the foreign travelers feel an immensely dejected vibe. No doubt the global economy is not as flourishing as years ago, but the overall sentiments in Osaka, Tokyo, Taipei, Bangkok and even Jakarta are dark and despair like that. My brother and colleagues from Australia who lived in Hong Kong for over 10 years left in 2023.
You want to see a dead city, come to San Francisco 😂🤦🏻♂️
Hong Kong’s pandemic struggles are nothing compared to SF where uncontrolled “freedom” (crime) has ruined everything.
@@ednasalinas8280every Asian city is feeling the pinch. Everybody in Taipei, Seoul, etc. feel hopeless about achieving financial independence.
Hong Kong has a decent opportunity. Housing prices are down from world record levels. This is, in some way, what the locals always wanted. Less global money pricing out the working class. That’s the price of being an international city that HK has been paying for the past 40 years.
exactly.
the fact that you need to compare it to other city is already indicative of how bad it is. Why don't you compare it to what it was? oh wait, truth will be hard for you to swallow 😂😂😂
Exciting times ahead with Alemio Network! Just joined the presale - can't wait to see where this project goes
Hey everyone, Alemio’s presale process has been smooth so far. Locked in my tokens today.
Alemio’s focus on scalable AI tools makes it worth a closer look. Grabbed some tokens today.
Secured some Alemio tokens, but I’m pacing myself with presales this year. The project has potential, though.
A disaster
He NEVER grew up F&B
Just got my Alemio token ALM during the presale. Get yours while you can..
People in Hong Kong are glad that the US back color revolution did not succeed and life can now be brought back to normal.
Hong Kong benefited greatly from the Mainland being “closed-off” for decades.
eg. trade, transpo, finance; much stemming from western preferential treatment.
The ride is coming to an end as they’re being pinched.
The mainland has created many economic alternatives to HK and are in the process of replacing the native population. It will become just another port city in their portfolio.
As that becomes more apparent the US will treat it as such and squeeze from the other side. 🦀
We’re seeing amendments to the relation from the ending of HK’s special status in 2020 to the HK autonomy act to the 2024 HK policy act.
The market will adjust accordingly.
More Middle East businessmen coming to Hong Kong / China for businesses ? ?
Now is NEW HK, Fully Mainlandized 💯
Completely irrelevant and unrelated to the video. Even if that were true, that doesn't explain why mainland cities are such popular destinations now.
新香港，全大陆化‼️💯
Completely irrelevant and unrelated to the video.
Kong is strong yes. But they do have casionos and they do love bets and having fun over there.
casinos? Not if you want to get arrested 😂
Alemio Network's presale seems like a golden opportunity to be part of the next big thing in fintech.
Guys, Alemio’s AI integration with DeFi tools seems like it could make waves. Worth keeping an eye on.
Uk is not united anymore
😢😢😢 free hong kong 😢😢😢 hong kong Rebellion