Hong Kong retail, luxury Malls empty and commerical space down 30%

[Shawny88]

Is it just me or the article is saying HK is recovering? And many responded here that SG will be like HK but also say SG is going down…So which is which?

Or no one read the article and just use TS’ topic to whack SG as it fits their “SG is doom” narrative…

 

[klim668]

Good, dllm some more lah. Now nobody want to travel there liao.
They can go beg their amdk masters help to boost tourism in hk...but then too bad these days the angmoh also no money liao.

 

[econ food]

Is it just me or the article is saying HK is recovering? And many responded here that SG will be like HK but also say SG is going down…So which is which?

Or no one read the article and just use TS’ topic to whack SG as it fits their “SG is doom” narrative…

But their hk bu..many dress better than singki..jb .

 

[econ food]

Already dropped the last few years. Have been trending downwards.

Chu go buy. Sure can attract some bu when u stay there..example.. drink
.bar.. walk street.. then u decide rom there
..Happy.

 

[Bumperbee88]

Chu go buy. Sure can attract some bu when u stay there..example.. drink
.bar.. walk street.. then u decide rom there
..Happy.

Nope. That place is belongs to TiongLand. Anyway, is not a family distination anymore. But I see mostly are those boomers going there. I prefer Japan and Taiwan in Asia.

 

[d5dude]

Isn't it the same everywhere? Where do you think the 300m plus for the Founders memorial going to come from? The reserves?

Singapore recorded a Government Debt to GDP of 167.80 percent of the country's Gross Domestic Product in 2022. Government Debt to GDP in Singapore averaged 98.33 percent of GDP from 1993 until 2022, reaching an all time high of 167.80 percent of GDP in 2022 and a record low of 67.40 percent of GDP in 1995. source: Government of Singapore​

https://www.gov.sg/article/the-sing...ce-sheet-with-assets-in-excess-of-liabilities

Singapore gov has no net debt, most of the debt is due to SSGS, which the gov issues to provide a return for CPF. Only a very small amount is for infrastructure and treasury market development.

We can afford useless crap like founders memorial because indirect taxes are extremely high in SG. COE, property related, GST, etc are massive cash cows for the gov. In fact we are forecast to register a fiscal surplus for 2024, most countries, including China are running deficits.

https://www.channelnewsasia.com/singapore/budget-2024-small-surplus-s08-billion-expected-balanced-fiscal-position-4128916#:~:text=SINGAPORE: A budget surplus of,on Friday (Feb 16).


And since we are on the topic of Hong Kong, I should also special mention that the HK SAR gov is broke. They have been running large deficits for years, reason being over reliance on land sales for revenue. Property is in a deep slump but the SAR gov must still pay its bills.

https://tradingeconomics.com/hong-kong/government-budget

 

[NightGhost]

People dont like how the product chop carrot head.
Like mobile n IT stuff or probably others branded things.
Too many new item n collection item no longer worth the money.
Like mobile knn this version bo suppork tat version bo suppork like they forcing people to change product n they product price keep increasing.
They think consumer stupiak issit.

 

[marksnow44]

Dont forget now the PRC also no $$$, they no $$$ to buy things in HK, unemployed many many, not many spent a lot in HK.
But for us, it is good time to go there to eat, to shop, as not so many PRC to snatch everything.

 

[Acetone]

Even honkies rather go shenzhen

 

[messidona]

many kumgong tourists love to go australian diary to eat macaroni and scrambled egg

 

[Bumperbee88]

https://www.gov.sg/article/the-sing...ce-sheet-with-assets-in-excess-of-liabilities

Singapore gov has no net debt, most of the debt is due to SSGS, which the gov issues to provide a return for CPF. Only a very small amount is for infrastructure and treasury market development.

We can afford useless crap like founders memorial because indirect taxes are extremely high in SG. COE, property related, GST, etc are massive cash cows for the gov. In fact we are forecast to register a fiscal surplus for 2024, most countries, including China are running deficits.

https://www.channelnewsasia.com/singapore/budget-2024-small-surplus-s08-billion-expected-balanced-fiscal-position-4128916#:~:text=SINGAPORE: A budget surplus of,on Friday (Feb 16).


And since we are on the topic of Hong Kong, I should also special mention that the HK SAR gov is broke. They have been running large deficits for years, reason being over reliance on land sales for revenue. Property is in a deep slump but the SAR gov must still pay its bills.

https://tradingeconomics.com/hong-kong/government-budget

HK have no diverse income. As you mentioned rightly, they have been decades depending on land sales of highest bet. They also depending mostly tourist from TiongLand for the dollars.

Where SinkieLand having more diversifed dollar earning mostly from various port trade, tourist from many countries.

 

[Bumperbee88]

Even honkies rather go shenzhen

shenzhen is much more developed , clean and modern than HK liao.

 

[chopin32]

Not as bad as HK. Some of their malls and shop really is no tenant even. SG as least weekends the malls very crowded and got lots of shoppers.

Nex everyday is crowded. Weekend even worst!

 

[LoaGong12]

It's the same for Sg, as long as CCP is curbing the outflow of money. Almost every country economy will suffer due to lesser spending Chinese. Even our casinos also reporting drop in Chinese VIP clients

common prosperity is good mah

 

[Bumperbee88]

Nex everyday is crowded. Weekend even worst!

All SinkieLand's Malls are well maintained and AEI every few years. Well regulated and does not overbuild. Most of the Malls are well connected with good infrastructures. Most offer essential ,daily needs and family weekend destination with great convenience. Whether yone is driving or not. That is why, we are doing better even with the RTS up and running.

 

[PaboJames]

Nope. That place is belongs to TiongLand. Anyway, is not a family distination anymore. But I see mostly are those boomers going there. I prefer Japan and Taiwan in Asia.

Most hk ppl go Shenzhen cos cheaper

 

[Bumperbee88]

It's the same for Sg, as long as CCP is curbing the outflow of money. Almost every country economy will suffer due to lesser spending Chinese. Even our casinos also reporting drop in Chinese VIP clients

Actually ,what the CCP doing is sort of right. Short to mid-term pain, but good for long-term to the country.

Instead of the very rich spending previously, eventually the commoners spend for the better life.

 

[Bumperbee88]

Most hk ppl go Shenzhen cos cheaper

HK have been depending on TiongLand for too long.

If I got to chose which between these 2 places to visit, I will chose SZ.

 

[ineser]

Well its recovering very slowly compare to pre pandemic stage.