Opinion | The Hong Kong of 20 years ago is gone. It’s time to accept it
- Changes in the population structure and attitudes to food, consumption and health have left our cityscape and hospitality sector looking old and tired
- We need to embrace the new opportunities being presented and transform Hong Kong into an interesting and attractive place again
Some changes are related to technology, others because of Covid-19, including changes in attitudes to health and well-being, and greater awareness of sustainability. Yet other changes relate to competition for Hong Kong residents’ time and money in Shenzhen. The collective impact of these factors means Hong Kong will never be the same again.
When industrial activities moved north in the 1980s, large areas of industrial floor space became available for other uses. Fo Tan became a hub for art and other innovative uses. Hong Kong people took the opportunity and created a range of new jobs and experiences. Cheaper retail space now provides new opportunities for our entrepreneurs to do something different.
In terms of Hong Kong’s population structure, there has been a significant decrease in the number of children, while those in generations X, Y and Z are entering middle age, and the baby boomers are moving into retirement and old age. These oldies have a lot of time to fill, and the young old (those aged 65-75) are often active, health conscious and have time on their hands and money to spend. They need a positive role in this changing society.
Meanwhile, the X, Y and Z generations have grown up with the internet and see sustainability as a significant part of their lives. They especially value health and fitness after the experience of the Covid-19 pandemic.
