HONG KONG: Hong Kong will continue to expand its market reach in the second half of this year to deepen ties with investors in Europe, the United States, Australia, and the Middle East, Hong Kong Special Administrative Region financial secretary Paul Chan says.
Hong Kong’s overall economic situation is stable, with 3.3% year-on-year growth in gross domestic product in the second quarter, Chan noted in his blog yesterday.
While changes in consumer spending patterns and a relatively strong Hong Kong dollar put some pressure on private consumption, companies can meet the challenges and seize new opportunities by creating new business models and promoting high-quality products and services, he said.
In the first half of this year, about 700,000 of the 21 million visitors to Hong Kong were meetings, incentives, conferences and exhibitions overnight visitors, recovering to 80% of the pre-pandemic level, the fastest recovery among all overnight visitors, Chan noted, adding that the group stayed in Hong Kong longer and spent 20%-30% more per capita than overall visitors.
The Hong Kong Tourism Board has secured and bid for more than 60 major international conventions and exhibitions to be held in Hong Kong from this year to 2026, expected to attract at least 220,000 participants, Chan said. — Xinhua
