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Wynna Wong

Hong Kong will seek to attract more big spenders by turning global events, such as the LIV Golf tournament, into long-term fixtures and becoming a business travel destination, as part of efforts outlined in the latest budget to boost the economy amid spending cuts to combat a deficit.
A government insider said on Wednesday that the stop-off in Hong Kong by the professional men’s golf event for the first time last year attracted about 40,000 spectators, including thousands of tourists who spent more than triple the average amount spent by regular visitors.
The event will return in March for the next leg of the tournament.
“They each spent, on average, about US$2,300 [HK$17,873] during their trips,” the source said.
“Typically, such dedicated golf fans don’t mind shelling out to see tournaments.”
Statistics from the Tourism Board showed the average overnight visitor in 2024 spent an estimated HK$5,490 per trip and stayed for 3.2 nights.
In his budget speech on Wednesday, Financial Secretary Paul Chan Mo-po said authorities were talking with LIV Golf organisers to “explore long-term partnerships”, with an announcement expected to be made soon.
“We will adopt a more strategic approach for continuously attracting sports events that can bring significant economic benefits to Hong Kong,” he said.
While the source stopped short of revealing details about the discussion with organisers, the insider said those overseeing such large sporting events typically looked for locations that could cater to their target audience, offering resources such as luxury hotels and restaurants, as well as the ability to provide and attract private sponsors.
The overall image and “class” of the city were also important factors, the source said.
“If we can secure the event in Hong Kong for the long term, visitors will also be able to plan their trips better,” the insider added.
Chan’s budget also highlighted a need to attract more visitors related to the meetings, incentives, conferences and exhibitions (MICE) sector by staging more such events.
MICE events that the board has already helped to secure this year are expected to attract about 183,000 visitors, generating HK$1.4 billion in spending.
Chan also said the board would ramp up efforts to develop Middle Eastern and Southeast Asian markets to attract more “high-end visitors”.


Under the new budget, the board will receive HK$1.2 billion this financial year to implement plans laid out in the recently released “Development Blueprint for Hong Kong’s Tourism Industry 2.0”.
The funds will also help it to pursue the “tourism is everywhere” concept touted by Xia Baolong, Beijing’s top man for Hong Kong affairs.
In comparison, the board received HK$1.5 billion in government funding for 2024-25, a decrease of 19.1 per cent.
The organisation estimates 49 million visitors will come to Hong Kong in 2025, a conservative estimate of 10 per cent growth from the 44.5 million in 2024.
Hong Kong welcomed 34 million tourists in 2023, with that year marking the city’s reopening of its borders as the Covid-19 pandemic came to an end.
The government insider said the city would no longer hold the monthly pyrotechnic shows announced in the previous budget to make better use of government money, but individual displays would still be held to correspond with major holidays or events, such as the coming National Games.
In response to the budget, the Travel Industry Council said that while it understood the financial pressures faced by the government, Chan’s blueprint “lacked specific measures that directly benefited the industry”.
The council said the sector continued to face challenges, such as regional competition and rising operational costs, and expressed a desire for more direct support for travel agents, whom it described as vital frontline workers.
“We hope the government will further strengthen its communication with the industry, allowing us to actively participate in the development of tourism policies and projects,” it said.


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News

Hong Kong

Hong Kong Economy

City’s 2025 budget also lays out plans to attract more business travellers by developing MICE sector, building ties with Middle East


City’s 2025 budget also lays out plans to attract more business travellers by developing MICE sector, building ties with Middle East.


Hong Kong to entice big spenders by turning LIV Golf into long-term fixture

City’s 2025 budget also lays out plans to attract more business travellers by developing MICE sector, building ties with Middle East

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