Hong Kong aims to organize more major events across diverse sectors to further develop high-value-added tourism and the MICE (meetings, incentives, conferences, exhibitions) industry, according to the city’s finance chief.
Writing in his weekly blog on Sunday, Financial Secretary Paul Chan Mo-po said a flurry of major events held over the past week, including financial conferences and international fairs, had drawn large crowds and generated many business opportunities for the special administrative region.
He said the events had not only fostered exchanges, but also injected significant momentum into the local economy. Last month alone, visitor arrivals in the SAR had risen by 11.8 percent year-over-year.
ALSO READ: Chan: APEC Finance Ministerial Meeting helped attract capital to HK
Citing the 18th edition of the Hong Kong International Wine & Spirits Fair, which concluded on Saturday, Chan said the three-day event featured more than 620 exhibitors from over 25 countries and regions. Many baijiu brands from the Chinese mainland had used the platform to expand their global presence, while wine merchants from countries like Georgia, Romania and Slovakia made their debut at the fair.
“This fully demonstrates Hong Kong’s status as an international liquor trading hub,” Chan said.
He also pointed to the Festival of Connoisseurs -- a three-day international conference on premium lifestyle – which kicked off at AsiaWorld-Expo on Lantao Island on Nov 4, attracting more than 3,000 participants from around the world. It was the first event funded under the HKSAR government’s initiatives worth HK$100 million ($12.82 million) to bring high-quality, large-scale international exhibitions to the city.
The local MICE industry has rebounded strongly in recent years, with the number of events and high-value-added visitors having seen solid growth. Chan noted that more than 360 exhibitions were held last year at the Hong Kong Convention and Exhibition Centre and AsiaWorld-Expo, drawing 7.7 million visitor entries.
ALSO READ: Hong Kong poised to attract 1.85m visitors with mega events
The number of MICE visitors to Hong Kong has exceeded 2.5 million -- a seven-percent increase year-over-year, with about 60 percent of them staying overnight.
Citing an industry study, Chan said the MICE sector had generated more than HK$50 billion in economic benefits and created about 67,000 full-time jobs in Hong Kong in 2024.
“We’ll continue to vigorously promote major events in various sectors and improve supporting infrastructure to foster the robust development of high-value-added tourism and the MICE industry,” he added.
The HKSAR's economy is estimated to have grown by 5.2 percent year-on-year in the third quarter of this year. For the first three quarters of 2026, real gross domestic product grew by 5.1 percent over a year earlier -- the fastest growth for the corresponding period in five years.
READ MORE: Hong Kong sees 6.4% jump in September retail sales
In September, the value of total retail sales was estimated at HK$33.4 billion -- up 6.4 percent compared with the same month last year -- according to the Census and Statistics Department.
Total receipts of the restaurant business in the third quarter reached HK$27.5 billion, climbing 3.1 percent over a year earlier.
Contact the writer at gabylin@chinadailyhk.com
