Hong Kong budget 2024-25: authorities earmark HK$1.09 billion for city’s drive to offer more cultural experiences, mega events

Hong Kong authorities have set aside HK$1.09 billion (US$139 million) to boost the local tourism trade as the government presses ahead with plans to offer more cultural experiences and mega events catering to a new generation of travellers. Financial Secretary Paul Chan Mo-po announced the decision in his annual budget speech on Wednesday and said the fund had been earmarked to “strengthen tourism development and organise events”. He later told a press conference that investing in the industry would produce short-term economic growth. “We have quite a lot of resources placed in travel-related promotion … when the travel industry is doing well and can bring high-spending tourists here, our retail, food and beverage and other sectors will benefit,” Chan said. He added that Hong Kong intended to collaborate with its sister cities in the Greater Bay Area as part of a multi-destination tourism drive. A source familiar with the situation said that meant joining up with neighbours such as Macau to coordinate promotion efforts and events, particularly those catering to foreign markets. The finance chief also said the government planned to enhance the Quality Tourism Services Scheme, an accreditation award scheme that launched in 1999 and recognised operators such as restaurants, retailers and hotels that met its criteria. The source said authorities were exploring placing more emphasis on service quality by allocating more points to that category. The majority of the funds, about HK$971 million, is set to go to the Hong Kong Tourism Board, supporting promotional and development projects over the next three financial years. A breakdown of the money showed HK$389 million would go towards diversifying tourism experiences, including HK$354 million that would be spent on revamping the city’s daily “Symphony of Lights” show along Victoria Harbour. The insider said the new light show was expected to be revealed next year. The source added that the Tourism Board for the time being would organise monthly pyrotechnic and drone shows to complement the existing lights show. The scale of the events would be similar to those at Harbour Chill Carnival in Wan Chai, rather than a full-scale display such as the New Year’s Eve celebrations, the source said. The other HK$35 million has been earmarked to support ongoing promotions that showcase Hong Kong’s various neighbourhoods and offer in-depth cultural tours, including seasonal festivals and events, exploration of the city’s outskirts and “citywalks”. The latter refers to a popular trend among mainland tourists, especially among the younger generation, that involves exploring an area’s urban landscape and more obscure corners at a more gradual, leisurely pace. The insider said the money would also be invested into filming “reality shows” produced in collaboration with television studios that showcased the city’s charm. What is the newly expanded solo traveller scheme and how will Hong Kong benefit? Another HK$304 million in the Tourism Board’s funds will go to supporting large-scale international events, while HK$176 million is being set aside to tap into new market sources and promotion opportunities, such as the mainland Chinese cities of Xian and Qingdao. Residents from both locations will be allowed to travel to Hong Kong on a solo basis under the Individual Visit Scheme from early March. Another source said the new budget was working in tandem with city leader John Lee Ka-chiu’s policy address in October, touching on plans to launch an annual Hong Kong Fashion Design Week, with the first edition scheduled to take place late this year. The insider added that brands from the mainland and the rest of the world would be invited to take part, but local designers would make up the event’s main showcase. According to the source, a “Signature Performing Arts Programme Scheme” would also support locally produced art and cultural events, pushing them to become long-running performance staples, “much like West End in London or Broadway in New York”. Wealthy and travellers targeted by Hong Kong’ new revenue-boosting measures The support measures include up to HK$15 million in subsidies, as well as offering organisers use of Leisure and Cultural Services Department venues for at least two to three weeks. Juno Kim, a solo travel blogger from South Korea who last visited in 2018, told the Post she liked how the new tourism measures “put an emphasis on local art, the food scene and outdoor activities”. “People often think Hong Kong is nothing but a huge city centre but I really enjoyed my time exploring the outer islands and hiking trails,” she said. “Organised events like these are good for visitors with limited time, or first-time travellers, to have opportunities to intimately know about the destination.” Additional reporting by Harvey Kong and Angeline Jiang