Intl Dragon Boat Federation moves headquarters back to Hong Kong

HONG KONG -- The International Dragon Boat Federation (IDBF) relocated its global headquarters from London to Hong Kong, where it was established 35 years ago, the Hong Kong Special Administrative Region government said on Wednesday.

The federation's homecoming increases the chances for sports events to contribute to the city's economy. It is also a nod to Hong Kong's friendly business environment marked by low taxes and minimum red tape, as well as to its heritage as the birthplace of modern dragon boat racing, according to the HKSAR government.

"Our thriving sports economy, world-class infrastructure, and unparalleled connectivity to both the Chinese mainland and international markets create an ecosystem where global federations can pursue new growth opportunities," said Arnold Lau, associate director-general of investment promotion of Invest Hong Kong, an investment promotion agency of the HKSAR government.

"Dragon boat is back home," said IDBF President Claudio Schermi. The federation will recruit dedicated full-time staff locally, leveraging Hong Kong's specialized talent pool to promote the sport globally and reach out to more demographics, he said.

The IDBF World Dragon Boat Racing Championships are set to return to Hong Kong next year for the first time since 1997, and are expected to welcome over 5,000 athletes from across the globe.