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Business & Economics News Retail

Jollibee expands further into Hong Kong, plans to set up 41 stores

The Filipino fast food giant has now 8 outlets in Hong Kong, and has plans to increase that number even further.

Jollibee is a Filipino multinational chain of fast food restaurants owned by Jollibee Foods Corporation (JFC). As of April 2018, JFC had a total of about 1,200 Jollibee outlets worldwide. The food chain is popular with their chicken and burger place in the Philippines that already opened more than 1000 stores in over 40 years of operation. Together with Charles & Keith and Potato Corner, these three are expanding rapidly in Hong Kong easily due to the high amount of fans locally and home-based.

Since 2013, the number of Southeast Asian companies in Hong Kong rose by 17 percent, having over 500 different business available in Hong Kong alone.

Jollibee plans to open 41 outlets in total which are to be built over the next five years in Hong Kong and Macau, and steadily gains popularity within the Filipino communities which can be attributed to the high amount of Filipino overseas workers that are stationed in each city.

Though even locals visit the place and are fond of Jollibee’s award-winning Chickenjoy.

Filipinos in the area are most likely to increase as domestic workers are frequently requested due to Hong Kong’s population are aging further. This, in turn, will increase in the consumer base leading to high profits for the various businesses.

Because of the Free Trade Agreement between Hong Kong, China and the Association of Southeast Asian Nations, it is expected for SEA businesses to grow exponentially under the agreements, which will go into effect in 2019.