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Another way is to reduce the rates of medium-term lending facility to guide down the benchmark lending rate (loan prime rate or LPR). These tools aim to support flow of credit, at lower financing costs, to spur economic growth.

Apart from tour agencies, hotels are also suffering. Tourism sector lawmaker Yiu Si-wing forecast that occupancy rate of Hong Kong hotels could drop by 10 percent and their revenue could slump by 20 percent.

Another 12 people in the gang also received sentences ranging from one to eight years in prison on the gang-related charges, the court added.

Another e-commerce giant Alibaba Group Holding Ltd has also entered the country's housing rental market. The technology giant signed an agreement with the Hangzhou city government to use the company's technology to create an online system for house rentals in August.

Another major, long-term unintended consequence, Sicina said, is that “foreign investment in the US will also be disrupted because of the tariffs”.