In an effort to boost tourism and drive economic growth, Hong Kong is planning to host mega events like fireworks displays to attract more visitors. The city’s finance chief has predicted that the city’s GDP is anticipated to grow between 2.5% and 3.5% in the first quarter, continuing a trend of moderate growth for the fifth consecutive quarter. This comes ahead of the release of the January-March GDP figures, which are expected to fall within the forecasted range for the full year.
The forecast for the full year was set at 2.5% to 3.5% following a 3.2% expansion in 2023. To maintain a steady pace of growth, Hong Kong is putting efforts towards attracting visitors through these initiatives. The city aims to continue its positive economic trajectory by focusing on tourism and events in the coming months.
The city’s finance chief stated that it is estimated that 800,000 visitors will come to Hong Kong for China’s labor day holiday on Wednesday. These events are part of the strategy to boost tourism and drive economic growth in Hong Kong.
Overall, Hong Kong is focused on promoting economic development and creating new opportunities for itself through these initiatives.
In conclusion, Hong Kong is anticipating a moderate level of growth in the first quarter with an expected range of between 2.5% and 3.5%. The city plans to maintain this steady pace by hosting mega events like fireworks displays to attract more tourists and drive economic growth in the long run.