While the worst may be over for Hong Kong's recent wave of violence, the impact on its economy is just beginning. Shoppers and holiday-makers usually eager to snatch up deals have not been able to do so lately. And, as sales figures fall, some say they will only continue to trend downward. CGTN's Zhu Dan reports.

Asia's former shopping paradise now finds itself vacated by customers. The impact from the Hong Kong protests and violence has spread to retailers. Jewelry and cosmetics stores are hurting the most as shoppers and big-spending travelers stay away.

ANGUS NG, EXECUTIVE CHAIRMAN GUANGDONG-HK-MACAO GREATER BAY AREA YOUTH ASSOCIATION "A lot of friends send message to me asking 'is it safe to go to HK? Is it safe to even have dinner in Hong Kong?'"

Some shops were forced to close temporarily, some even emptying their shelves of stock. SaSa Company, a cosmetics vendor, reported a 15.3% drop in same-store sales in Hong Kong. The company says the protests affected some stores, as sales are down compared to last year. For the same period, Chow Tai Fook Jewellery Group, reported an 11% decline. Bonjour, another cosmetic company, also cited "social unrest in Hong Kong" as having an impact on its financial performance for the first half this year.

ANDREW CHAN, VICE HONORARY SECRETARY THE HK CHINESE IMPORTERS' & EXPORTERS' ASSOCIATION "The Hong Kong Retail Management Association said that 'most members' reported a single-to-double-digit drop in average sales revenue between June and the first week of July. The hotel bookings have also dropped by 10%, A lot of international companies cancelled their meetings in HK."

ZHU DAN HONG KONG "It's not just the outlook for Hong Kong retailers that has taken a hit. People's livelihoods are now also affected, as the Legislative Council was forced to close."

Chan Kin-por, a lawmaker and Finance Committee Chairman, said the chaos will delay key HK public welfare bills.

Chan adds that for businesses in Hong Kong, the worst is yet to come. Zhu Dan, CGTN, HK.