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Lan Kwai Fong’s chairman sheds light on the challenges of the country’s nightlife industry and why its evolution is the key to staying ahead
For decades, Dr Allan Zeman has been known as the king of Lan Kwai Fong, Hong Kong’s mainstay entertainment district. The property magnate spearheaded its development back in the ’80s and since then, the area has become the destination to enjoy a bustling nightlife scene. A scene that, until only a few months ago, was being soundly battered as collateral damage of Covid-19.
For almost three years, from the start of 2020 to the end of 2022, attendance at entertainment venues across Hong Kong was stopped and stymied by outbreak prevention measures, public fears of gathering in large groups and pained bank balances.
Read more: In pictures: Roundtable discussion with Lan Kwai Fong group chairman Dr Allan Zeman
Zeman—who recently spoke at a JP Morgan Catalyst Series roundtable by Tatler Gen.T—believes the biggest issue facing the industry is the drought in tourism.
“Hong Kong itself has some mending to do,” he says. “Flights are still behind. Cathay Pacific is optimistic that by the end of this year, flights will be at 70 percent of pre-pandemic levels and return to pre-pandemic regularity by the end of 2024. Insufficient flights are directly related to lesser tourists; international people can’t travel.
“Additionally, high airfares, compared to what they used to be, are another deterrent for tourism. Within the industry, a lot of staff have left and there’s a huge manpower crunch. We see that across the board—in tourism, F&B, construction, you name it. Hong Kong lacks a lot of workers right now.”
While Zeman thinks Hong Kong still has some damages to fix, the business for Lan Kwai Fong is on the up and up.