City warned HK$100 billion boost from new bridge at risk due to inaction

Hong Kong could lose out on a HK$100 billion boost to its economy if it fails to plan ahead for the opening of the Hong Kong-Zhuhai-Macau bridge in 2016, an economist has warned.

The development of the bridge is a "double-edged sword", Hang Seng Management College's business professor Raymond So Wai-man said.

On the positive side, the bridge should provide development opportunities for Lantau.

But government inaction risked potential visitors abandoning the island for nearby Hengqin or Macau, which can be reached within half an hour after the bridge is completed, So said.

Better co-ordination of Lantau businesses - including exhibition venue AsiaWorld-Expo, Hong Kong Disneyland and the Ngong Ping 360 cable car - could contribute an additional HK$3 billion to HK$4.5 billion in revenue within a year, assuming visitors stay longer on Lantau and spend more.

That economic benefit could rise to HK$100 billion over a period of 10 years if more companies were attracted to set up businesses on the island, So argued.