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HONG KONG - Cost-conscious Chinese tourists have replaced many of the cash-rich mainland travellers who once flocked to Hong Kong, with some only interested in free walking tours of the city and staying across the border in Shenzhen overnight to save money.
"The China economy's recovery speed was not as good as we expected. When people utilise their disposable income, they now become more cautious," Leung said. Catering sector representative Simon Wong told local media that restaurants saw 10% less business than usual during the May 1 public holiday, traditionally a busy period for Hong Kong.
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