How can Hong Kong’s service sector win residents back from the mainland?

With mainland operators benefiting from massive economies of scale and lower input costs, competing purely on price is unsustainable for local businesses. Instead, Tang highlights that long-term resilience depends on delivering unique cultural and experiential value that cannot be replicated elsewhere:

"As long as we can bring back the memory and the culture that are unique to Hong Kong, which are absent anywhere else in the world, tourists will want to come to Hong Kong to consume those experiences, and Hong Kong people will love to stay."

Rather than entering price wars, Hong Kong's service sector can thrive by leaning into authentic, memorable experiences that resonate with both locals and visitors alike.

Watch the full interview here.