The first case of confirmed Covid-19 in Hong Kong was on 23 January 2020. The consequential socio-economic impact was progressively felt in February. By late March, Mr. Angel Gurría, OECD Secretary General, had warned that “the economic shock was already bigger than the financial crisis. It was ‘wishful thinking’ to believe that countries would bounce back quickly”.
Fast forward to today. Mr. Gurria’s predictive comment continues to hold true. Following is a snapshot of the “realities on the ground” in Hong Kong up to the end of June 2020.
This is an example of industry analysis from Hong Kong which we are sharing as part of our global best practice resource to help you think about and determine appropriate responses locally.