Hong Kong’s Finance Chief Predicts Moderate Growth in Q1; City Plans Mega Events to Boost Tourism and Economic Development

Hong Kong’s finance chief has predicted that the city’s GDP will 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 attract more tourists and drive economic growth, Hong Kong is planning to host mega events like fireworks displays. It is estimated that around 800,000 visitors will come to the city for China’s labor day holiday on Wednesday. These events are part of a strategy to boost tourism and promote economic development in Hong Kong.

In order to maintain a steady pace of growth and attract visitors through these initiatives, Hong Kong is putting efforts towards promoting tourism and events. This aligns with the overall goal of creating new opportunities and promoting economic development in the city. With a focus on tourism and events, Hong Kong aims to continue its positive economic trajectory in the coming months.