Hong Kong strives to bolster high-value tourism: HKSAR financial chief

HONG KONG -- Hong Kong will continue to promote mega events and upgrade supporting facilities to bolster high-value tourism and the convention and exhibition industry, financial secretary of the Hong Kong Special Administrative Region government Paul Chan said on Sunday.

Writing in his blog, Chan noted that recent major events have drawn global business leaders and visitors, injecting significant momentum into the local economy.

Hong Kong's economy expanded 5.2 percent year on year in the third quarter, bringing growth for the first nine months to 5.1 percent, which was the fastest pace for the period in five years. Visitor arrivals rose 11.8 percent year on year in October, retail sales grew 6.4 percent in September, and restaurant receipts increased 3.1 percent in the third quarter, he said.

Phase 2 of AsiaWorld-Expo is scheduled for completion in 2028, adding a multipurpose venue with around 20,000 seats. Alongside the Wan Chai North redevelopment, these projects will expand Hong Kong's large-scale convention and exhibition space by over 40 percent, according to Chan.

Chan added that a packed calendar will wrap up the year, featuring the Hong Kong WinterFest, Clockenflap music and arts festival, international sports events and concerts at Kai Tak Sports Park, and the New Year countdown celebrations.