Hong Kong unrest sends business travellers to Thailand, Singapore

[BANGKOK] The unrest in Hong Kong is prompting businesses to relocate conferences and other major meetings to locations such as Thailand and Singapore, according to hotel-industry billionaire William Heinecke.

"Some conferences have been cancelled in Hong Kong and moved," Mr Heinecke, the chief executive officer of Bangkok-listed Minor International, said in an interview on Wednesday.

Mr Heinecke said the trend is "significant" and that it's helping offset the slowdown in Chinese tourist arrivals in Thailand. China is the key source of visitors to the South-east Asian nation, whose economy has slowed on moderating tourism and exports.

Hong Kong's economy, squeezed by the protests and the US-China trade war, is on the cusp of recession.

BLOOMBERG