Arent in the community fabric
Updated: 2012-07-06 07:15
By Christopher DeWolf(HK Edition)
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People walk past a vacant retail outlet in Mong Kok. Rising rents for retail space drive more and more small local stores out of business. Mike Clarke / AFP |
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A tourist carries multiple shopping bags in Tsim Sha Tsui. Unlike visitors from other countries, who splurge on accommodation and entertainment, mainlanders spend more on shopping, sparking off bidding wars among international chains for prime shop spaces. Aaron Tam / AFP |
In popular commercial districts, rents are driving many old time businesses away as international chain operators move in: the reason? Hong Kong's growing popularity among mainland tourists. Christopher DeWolf brings the story.
(HK Edition 07/06/2012 page4)