Hong Kong, striving to revitalize its tourism sector post-pandemic, seeks to capitalize on the burgeoning Indian tourism market. However, challenges exist, including visa complexities, potential overstay concerns, and existing diplomatic tensions between China and India. The article also explores broader concerns about the city’s economic climate and the need for a strategic approach to attracting tourists with spending power.
In a bid to optimize costs, Nike has announced the layoff of 740 employees at its Oregon headquarters, representing a 2% reduction in its global workforce of over 83,000. This move is part of a three-year plan to save $2 billion in expenses. The layoffs follow a recent string of workforce reductions by other major companies navigating challenging economic conditions.
Western Australia’s renowned residential builder, Collier Homes, has become the latest victim of the construction industry’s downturn, ending its 65-year operation. Appointed liquidators Rob Brauer and Linda Smith of McGrath Nicol are investigating the extent of the company’s financial woes and the number of affected customers. Collier Homes’ website suggests it faced challenges amidst the post-COVID economic climate, including supply shortages, labor constraints, and escalating costs. The company’s collapse comes after a partnership with Lindal Cedar Homes in 2017 saved it from the brink of collapse. Collier Homes, founded in 1959, was acquired by builder Dario Amara in 2017.
