Sandra (China)

The number of Chinese travelling abroad during the Spring Festival went up 10 percent, but the number visiting Hong Kong fell for the first time over the past 20 years because of anti-mainland sentiment. The city may lose between $2bn and $3bn in retail sales, if the government proceeds with a 20 percent cut in Chinese arrivals. The limited capacity theory is not that convincing. When a place is overwhelmed visitors go somewhere else. The number of tourists should be adjusted by the market, not government policies.

A visitor carries a Chinese pinwheel for bringing good luck, inside a Lunar New Year market at Hong Kong's Victoria Park, Feb 17. REUTERS/Bobby Yip