"Hong Kong's economy will noticeably revive this year, and I remain optimistic," Hong Kong's Secretary for Finance Paul Chan said on Wednesday during the Legislative Council Budget Release Conference (Feb. 22).
Hong Kong has long been a world‑renowned events capital. Organization of mega events, international conferences and exhibitions is especially crucial to drawing high value‑added visitors. It is also a segment of the tourism industry in which countries around the world are striving to establish a foothold.
To enhance Hong Kong's international image, Chan pointed out that the HK government will earmark HK$100 million for attracting more mega events with significant visitor appeal and tourism promotional effect to be staged in Hong Kong. Besides, the Hong Kong Tourism Board (HKTB) will spend over HK$250 million to sustain its efforts in organizing or helping promote major tourism events, including the Hong Kong Pop Culture Festival to be held for the first time, the Hong Kong Wine and Dine Festival to be held in physical mode again for the first time since the epidemic, the Hong Kong International Dragon Boat Races, Hong Kong Cyclothon, Hong Kong Sevens and Arts Basel in Hong Kong, etc.
What is more, the government will allocate additional funding of about HK$200 million to the HKTB for stepping up its efforts in securing the staging of more international meetings, incentive travels, conventions and exhibitions (MICE) of various scales and types in respect of finance, innovation and technology (I&T), medicine, etc. in Hong Kong, to attract high value‑added visitors and consolidate Hong Kong's position as the premier MICE destination in the region.
According to the Budget, various organizations have also launched different measures to attract visitors:
The Hong Kong Trade Development Council (HKTDC) will hold more than 10 major conferences and exhibitions in the coming months. It is anticipated that these events will attract over 500,000 participants. Moreover, as this year marks the 10th anniversary of the Belt and Road (B&R) Initiative, the Government will continue to co‑organise the annual B&R Summit with the HKTDC to actively promote Hong Kong as a functional platform and a key link for the B&R Initiative.
The Hong Kong Monetary Authority (HKMA) plans to jointly organize international conference on banking supervision in Hong Kong with the Basel Committee on Banking Supervision next month, and is discussing with the Bank for International Settlements the holding of the Central Bank Governors Meeting in Hong Kong in the latter half of the year. As regards the Global Financial Leaders' Investment Summit organized for the first time in November last year, it will be held again this year to showcase Hong Kong's unique edges and investment environment.
The Airport Authority Hong Kong (AA) has announced that it would give away free air tickets while the HKTB is handing out gift packs to inbound visitors. Notwithstanding our status as a culinary capital and a shopping paradise, we also need to enhance promotion efforts while tourism is on the road to recovery. In this connection, the HKTB will distribute "Hong Kong Goodies" to one million inbound visitors, offering them shopping and dining privileges. In addition, the HKTB will provide greater incentive to attract visits of international cruises, with a view to facilitating the revival of the cruise industry and consolidating Hong Kong's position as a major cruise port in the region.
Chan indicated that Hong Kong will soon launch the "Happy Hong Kong" Campaign for the general public, providing them opportunities to share happy and enjoyable moments together, thereby bringing more joy to the community. The campaign will focus on activities related to gourmet experiences, fun amusements and exciting ambience. One of the major themes for this series of events is the launch of a "Gourmet Marketplace", under which large‑scale food fairs will be organized in various locations across the territory in the coming months, bringing together Mainland, Hong Kong and overseas gourmet food, with a view to enabling the public and visitors enjoy the good food in the city.
Additionally, in support of the Happy Hong Kong Campaign, organizations like the West Kowloon Cultural District Authority, Hong Kong Disneyland, Ocean Park Hong Kong, Hong Kong Cyberport Management Company Limited (Cyberport) and Hong Kong Science and Technology Parks Corporation (HKSTPC) will each hold themed fairs, carnivals or other activities this year.
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