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Hong Kong culture
OpinionLetters

LettersHong Kong’s West Kowloon Cultural District deficit is an investment opportunity, not a loss

  • Readers discuss recognising the long-term economic and social benefits of cultural funding, and how to increase enjoyment of museum free days

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Hong Kong’s West Kowloon Cultural District, as seen on August 18. The cultural district’s fiscal challenges present the Hong Kong government with an occasion to recalibrate its cultural stewardship. Photo: Sam Tsang
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The West Kowloon Cultural District saw a HK$718 million (US$92.1 million) operating deficit for the 2022-23 financial year. While alarming at first glance, this shortfall, leading to a potential fund depletion by early 2025, is a strategic investment in a vibrant artistic future, not a fiscal misstep.
This moment presents an opportunity for decisive action by the Hong Kong government to foster cultural growth and reimagine the city’s identity as a global cultural nexus, aligning with the ambitions of China’s 14th five-year plan.
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Museums and cultural institutions are cornerstones of societal enrichment. They also yield substantial economic returns. The American Alliance of Museums has found that for every US$100 of value-added output created by museums, an additional US$220 of value added is created in other sectors of the US economy.

Despite seeming substantial, the HK$718 million gap amounts to just about 0.1 per cent of Hong Kong’s government spending. Yet this small percentage represents a significant opportunity for the government to invest in cultural funding, unlocking further potential for long-term societal and economic benefits.

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The West Kowloon Cultural District’s strategic development could position Hong Kong alongside cultural centres like Paris and New York. Institutions within the district, including M+, the Palace Museum Hong Kong and Xiqu Centre, could transcend their roles as mere cultural conservators to become engines of economic and social change, bolstering creative industries and urban development.

The emerging economic impact of these centres on Hong Kong highlights the need for a new study – building upon a 2007 assessment by the Financial Secretary’s Office of the cultural district’s economic impact – to support further investment decisions.

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