A Picasso-featured painting display, Hong Kong Sevens rugby tournament and two international film festivals are among the city’s 90 or so grand events scheduled for the first half of next year, the Hong Kong Special Administrative Region government said on Tuesday.
The long program list is a continuation of the city’s mega-event economy – a strategy aiming at stimulating growth by boosting foot traffic through local events with international appeal.
At a news conference on Tuesday, Deputy Financial Secretary Michael Wong Wai-lun said at least 93 events have been finalized – 30 cultural projects, 26 conferences and exhibitions, 15 sports events, 12 carnivals and 10 events for the financial and innovation sectors. Fourteen of those will begin this year and continue into 2025.
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Highlights of the half-year events list include a display of over 60 works of acclaimed Spanish artist Pablo Picasso, the 8th Asia Film Awards and the 49th Hong Kong International Film Festival.
The annual Hong Kong Sevens rugby tournament will be hosted at the newly completed Kai Tak Sports Park in late March.
Wong said this year the city will host over 240 major events, with the participation of two million visitors, 17 percent up from an earlier projection.
In total, the mega-event economy is expected to bring the city HK$7.5 billion ($963 million) in consumer spending and HK$4.5 billion in economic value added this year, he said. EVA is a financial performance metric that evaluates a business’ ability to generate value beyond its cost of capital.
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As for the events slated for the first half of 2025, Wong expressed optimism that they will attract 840,000 tourists — twice the number from the corresponding period this year, while generating approximately HK$3.3 billion in consumer spending and HK$1.8 billion in EVA, respectively representing 40 percent and 30 percent year-on-year growth.
At a meeting with lawmakers in January, Chief Executive John Lee Ka-chiu said that every 1.5 million travelers contribute around 0.1 percentage point to the local GDP, according to government economists’ estimates.
He said the authorities will work closely with various industries to seize opportunities presented by mega events, and to convert the anticipated increase in foot traffic into revenue.
Contact the writer at lilei@chinadailyhk.com
