Hong Kong's pro-democracy protesters have blockaded some of the territory's key shopping areas, and analysts are keeping a running toll on how badly the economy will be hit.
Retail sales were 23.3 percent of Hong Kong's gross domestic product (GDP) in 2013, with spending by non-residents around 14.3 percent of GDP, Deutsche Bank said in a note last week, noting that 75 percent of tourists come from the mainland and these visitors account for 79 percent of tourist spending.
"This is obvious: the longer these neighborhoods and shopping centers remain obstructed, the greater the economic loss to Hong Kong," it said. "If mainland tourist arrivals drop by one-third for one month, about 0.3 percent of GDP of sales (about 6.8 billion Hong Kong dollars) would be lost. If one-third of all other tourists also stay away for a month, about another 2.3 billion Hong Kong dollars in sales would be lost."