Authorities in Hong Kong canceled nearly 200 flights Monday because of a major protest at the city's international airport. That's terrible news for companies operating in the financial hub.
The decision to cancel all departures and inbound flights not already in the air was made after thousands of pro-democracy protestors gathered at the airport, the region's third busiest after Beijing and Tokyo.Protests have been rocking Hong Kong for months, and the crisis is already having a noticeable effect on the city's economy. Some demonstrations have ended in violent clashes with police.
Companies have already reported"serious consequences from the disruption," including lost revenue, disrupted supply chains and shelved investments, the American Chamber of Commerce in Hong Kong said last month.Fewer visitors, less businessHong Kong's status as a hub for business travel was already under threat before the protests began.
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