This photo taken from the blog of Financial Secretary Paul Chan Mo-po shows Chan (2nd left) introducing Hong Kong's snack food culture and history to tourists in Temple Street in Hong Kong, on Dec 30, 2023.

As 2023 draws to its close, Hong Kong is set to welcome a more eventful year following the government’s efforts in launching mega activities to boost consumption and restore its image as Asia’s world city, Financial Secretary Paul Chan Mo-po said. 

“Next year, we will have even more exciting events that highlight the vibrant fusion of Chinese and Western cultures, as well as the advantages of convenient connectivity with the rest of the world”, Chan wrote in his last weekly blog of the year. 

These large-scale events cover sports, cultural arts, trade, and financial spectacles, including the Rugby Seven, Art Basel, and Asian Financial Forum.

However, the finance chief acknowledged that the city has also faced various challenges, including escalating geopolitical tensions, adjustments in the global supply chain, sustained high-interest rates, weak external economic growth, and changes in consumer patterns among residents and tourists

By organizing a diverse range of activities with different themes, orientations, and content, and injecting new elements and experiences, Hong Kong aims to provide both local and international friends with more opportunities and incentives to visit Hong Kong repeatedly, according to Chan.

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“We want Hong Kong to be the ideal destination for business travel, cultural experiences, leisure tourism, and family fun”, he added. 

“Looking back at 2023, Hong Kong embarked on a path towards comprehensive normalization, gradually resuming exchanges with the Chinese mainland and the international community. The economy experienced recovery and growth, with unemployment rates dropping to low levels and inflation remaining moderate”, Chan said. 

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However, the finance chief acknowledged that the city has also faced various challenges, including escalating geopolitical tensions, adjustments in the global supply chain, sustained high-interest rates, weak external economic growth, and changes in consumer patterns among residents and tourists. These factors exerted certain pressure on Hong Kong's economy, commodity exports, and asset market performance.

Since the beginning of the year, the Hong Kong government has launched consumption vouchers and rolled out various activities to stimulate spending. 

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Among a slew of highlights was the "Happy Hong Kong" campaign, including food markets, fishermen's markets, and the Victoria Harbour Carnival, to provide citizens with more enjoyable destinations and inject a more positive atmosphere into the city after three years of the pandemic.

In September, Hong Kong also kicked off the “Night Vibes Hong Kong” campaign to boost the city’s night-time economy. As part of the government’s drive, the well-known night market on Temple Street has been revamped to demonstrate the city’s rich diversity of cultures. 

Chan cited his recent stroll at Temple Street, where he encountered numerous tourists from the mainland, neighboring regions, and even Europe and America, saying they were attracted by its reputation and excited about the food stalls.