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  • 1 Post By stickyears
  • 2 Post By East_coast

High Speed Rail flop, flops more

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  1. #1

    Join Date
    Jul 2011
    Posts
    779

    High Speed Rail flop, flops more

    https://www.scmp.com/news/hong-kong/...motions-entice

    The delight of looking back at old posts is finding these gems (in a closed thread, hence the new one).
    #61

    Yep, if you take those fantastic figures for 2 days, and spread across a month, the effect is nothing for what should be the biggest holiday period of the year. For those wondering how February ended (and why hk.gov didn't trumpet it) can look at the figures for the CNY month, and beyond, here:
    https://www.mtr.com.hk/en/corporate/.../patronage.php

    or here for detailed info:
    https://www.td.gov.hk/filemanager/en...42/table82.pdf

    As everyone, apart from the not-really-civil-servants and Wumaos round here predicted, it's a flop. A flop when proposed to be 120K users per day and giving a return on investment. A flop despite extra destinations added. A flop when reduced to 80K users per day and forgetting the capital invested. A flop when proposed to be profitable from day one. A flop when even more destinations added. A flop even when Mainlanders are the main users. And, as predicted, a handy kidnap point within the HK SAR.

    Personal experience as I used it to Futian, Guangzhou, Xiamen.... the first two, MTR and SZ metro/GSRC is faster/cheaper/less hassle. Even to western GuangDong, a ferry and then car are faster. For Xiamen, flying is working out faster and cheaper. For longer distances, if you are time rich or like looking out of the window at the scenery, fill yer boots (on the back of the carboard grannies). For everyone else, just fly or go to Shenzhen and do long distance from there.
    AsianXpat0 likes this.

  2. #2

    Join Date
    Aug 2008
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    16,348
    Quote Originally Posted by stickyears
    https://www.scmp.com/news/hong-kong/...motions-entice

    The delight of looking back at old posts is finding these gems (in a closed thread, hence the new one).
    #61

    Yep, if you take those fantastic figures for 2 days, and spread across a month, the effect is nothing for what should be the biggest holiday period of the year. For those wondering how February ended (and why hk.gov didn't trumpet it) can look at the figures for the CNY month, and beyond, here:
    https://www.mtr.com.hk/en/corporate/.../patronage.php

    or here for detailed info:
    https://www.td.gov.hk/filemanager/en...42/table82.pdf

    As everyone, apart from the not-really-civil-servants and Wumaos round here predicted, it's a flop. A flop when proposed to be 120K users per day and giving a return on investment. A flop despite extra destinations added. A flop when reduced to 80K users per day and forgetting the capital invested. A flop when proposed to be profitable from day one. A flop when even more destinations added. A flop even when Mainlanders are the main users. And, as predicted, a handy kidnap point within the HK SAR.

    Personal experience as I used it to Futian, Guangzhou, Xiamen.... the first two, MTR and SZ metro/GSRC is faster/cheaper/less hassle. Even to western GuangDong, a ferry and then car are faster. For Xiamen, flying is working out faster and cheaper. For longer distances, if you are time rich or like looking out of the window at the scenery, fill yer boots (on the back of the carboard grannies). For everyone else, just fly or go to Shenzhen and do long distance from there.
    With a growth of only 1% additional visitors in the first 6 months of the year compared to the previous year even with the opening of the Mega Bridge and aggrandized train it is somewhat disappointing.

    High Speed Rail HK$86 billion
    Mega Bridge HK$140 billion

    That's around $30,000 each person spend for a 1% increase in visitor numbers (when it has been growing at much higher rate). Considering relatively few people pay tax in HK you can easily double that to $60K per tax payer. A person on minimum wage earns about $68K annually. I am not sure I would of invested that much money in these projects but the government kindly did for me. I don't believe the bridge is covering running costs yet let alone paying the principle back.
    Coolboy and coffee_break like this.