Pacific World Hong Kong will begin to cease operations from September 14, and move towards a complete closure of the office by November this year.
In a letter to its business partners, Pacific World Hong Kong explained that the decision was a result of Covid-19 disruptions to the “global tourism industry in the past few months”.
Pacific World Hong Kong also expressed its continued faith in the industry, stating: “Fundamentally, the global economy will rebound. Today’s reduced travel budgets and cancelled meetings and events are tomorrow’s pent up demand and people will continue to meet for business events again.”
The company’s global operations elsewhere will remain. In Asia, it maintains offices in China, Singapore, Thailand and India, among many others.