Editorial | Imaginative answers required to financial problems at Hong Kong arts hub

There was a time when the West Kowloon Cultural District remained nothing more than a deserted corner for jogging, cycling and some one-off events years after the ambitious arts hub project was fresh from the drawing board.

Adding to the woes were serious delays, financing setbacks and musical-chair management at the body overseeing the development, raising doubts as to whether the city was aiming too high when the blueprint was conceived in 1998.

Thankfully, that is history. Today, the area is one of the favourite places for locals and tourists alike, with world-class museums, open green space and magnificent views to enjoy.

The managing West Kowloon District Authority has reason to be proud. The M+ museum has already attracted more than 4 million visitors, while as many as 1.4 million have flocked to the Palace Museum since its opening in July last year.

The attendance is impressive, especially considering the impact of the prolonged Covid-19 pandemic. But the facilities are costly to operate, and the authority suffered a net loss of HK$1.56 billion (US$199 million) last year.

It had always been envisaged that a sustainable financing model would follow after the endowment fund of HK$21.6 billion from public coffers ran out, the latest estimate being by March 2025.