office of the government economist the government of the hong kong special administrative region economic letter 2022 01 possible economic losses caused by the local covid 19 pandemic desmond hou ...
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...Office of the government economist hong kong special administrative region economic letter possible losses caused by local covid pandemic desmond hou leo wong principal senior march abstract outbreak since early dealt a significant blow to global and activities this article focuses on seven catering retail hotels passenger transport other spending visitors construction import export that were harder hit estimates their it is crudely estimated total loss these selected totalled around billion in respectively equivalent gdp under hypothetical no scenario i introduction epidemic subsequently evolved into aggravating recession economy although staged strong rebound thanks robust goods exports improving domestic demand was still below its pre level further indirect suffered sectors ii estimation method severe wide ranging particularly for involving more frequent person contact like tourism visitor arrivals plunged from preceding year values sales restaurant receipts fell business accommodat...