COVID-19 Pandemic and Mass Migration Wave Triggers Surge in Business Start-ups
HONG KONG SAR – Media OutReach – 13 June 2022 – The fifth wave of Covid-19 has swept Hong Kong, the unemployment rate climbed to a ten-month high of 5.4 per cent, and more than 200,000 people were out of work. The livelihood consumption and tourism-related sectors have been severely affected, especially the retail, accommodation, and food services industries. The overall economic situation in Hong Kong is deteriorating. Given this, numerous Hongkongers have been exploring new opportunities to stay resilient in this “epidemic” environment. Many have started their businesses and opened online stores to seek a way out.