The shipping industry has continued its adjustment in the wake of the 2008 financial crisis, the attendant global economic slowdown and lingering overcapacity. While short-term outlook appears dim, long-term outlook remains sanguine with seaborne trade expected to double by 2030. As a maritime services centre, Hong Kong needs to reinforce its offerings despite the downturn.
More than 408 million tourists now visit Asia-Pacific destinations every year, with China taking the lead as both the preferred destination and the largest source of outbound tourists. Japan, though, is also enjoying a distinct resurgence.
Once one of the benchmark buildings of Tainan, a city in southern Taiwan, the 84-year-old Hayashi Department Store has been successfully restored to its former glory, with its new incarnation trading as a unique creative retail hub.