Foreign visitor slump sending rents in Taipei shopping areas lower
12/20/2020 05:38 PM
Shops on Yongkang Street. Photo courtesy of Taipei Dongmen Yongkang Business Circle Development Association, CNA file photo
Taipei, Dec. 20 (CNA) Commercial lease rates in three major shopping districts in Taipei are spiraling lower amid a steep decline in foreign visitors caused by the COVID-19 pandemic, according to local business associations.
Overseas visitor arrivals were down 86 percent in the first 10 months of the year, and the loss of 8.4 million tourists to Taiwan has dealt a particularly heavy blow to some of the more popular places in Taipei for tourists to hang out.
Taipei shop rents dive amid foreign visitor slump
TOUGH TIMES: At least 40 businesses in the Yongkang Street area have shut, and while trade is recovering in Xinmending, the Shilin Night Market is finding it hard to lure locals
Staff writer, with CNA
Commercial lease rates in three major shopping districts in Taipei are spiraling lower amid a steep decline in foreign visitors caused by the COVID-19 pandemic, local business associations said.
Overseas visitor arrivals were down 86 percent in the first 10 months of the year, and the loss of 8.4 million foreign tourists has dealt a particularly heavy blow to some of the more popular areas tourists visit in Taipei.
2020/12/20 17:50 Taipei 101 and Taipei World Trade Center. (Taiwan News, Jules Quartly photo) Taipei 101 and Taipei World Trade Center. (Taiwan News, Jules Quartly photo) Commercial lease rates in three major shopping districts in Taipei are spiraling lower amid a steep decline in foreign visitors caused by the COVID-19 pandemic, according to local business associations. Overseas visitor arrivals were down 86 percent in the first 10 months of the year, and the loss of 8.4 million tourists to Taiwan has dealt a particularly heavy blow to some of the more popular places in Taipei for tourists to hang out. Among the hardest hit by the COVID-19 travel restrictions that continue to keep tourists away is the Yongkang Street area, normally a big hit with visitors from Japan, South Korea, and Hong Kong.
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