Financial Secretary Paul Chan announced on Sunday that the government would continue to support the growth of high-value tourism and the Meetings, Incentives, Conferences, and Exhibitions (MICE) industry. This announcement came as Hong Kong was hosting several significant events in the past week, such as financial summits and international exhibitions. Chan underscored the success of the "Festival of Connoisseurs," a three-day event featuring luxury items like supercars, yachts, and jewelry, which attracted over 3,000 visitors from around the world. According to Chan, visitor expenditure at international exhibitions averages HK$9,300 per person, which is 70 percent higher than that of a typical overnight tourist. Industry research estimates that the MICE industry will contribute over HK$50 billion to Hong Kong’s economy in 2024 and create approximately 67,000 full-time jobs. The government would continue to promote large-scale events across various sectors and enhance supporting facilities. Furthermore, the Tourism Board would collaborate with the industry to design unique experiences and services for high-value tourists. Chan highlighted that Hong Kong's capacity for large-scale MICE events would increase by more than 40 percent with the completion of Phase 2 of the AsiaWorld-Expo and the Wan Chai North redevelopment project.
Financial Secretary Paul Chan also mentioned plans to improve infrastructure and facilities in response to growing demand. Chan emphasized the importance of creating tailor-made experiences for high-value visitors, noting that their spending significantly boosts the local economy. With the completion of the AsiaWorld-Expo Phase 2 and Wan Chai North redevelopment, the city aims to further enhance its hosting capabilities for major events. Chan's comments reflect a strategic approach to rejuvenate the local economy through high-value tourism and MICE events.
Moreover, Chan noted that the government would work closely with tourism stakeholders to continue enhancing the appeal of Hong Kong as a high-value destination through the integration of unique cultural and culinary experiences. As these industries are integral to the city’s economic recovery and revitalization, the government's efforts highlight a commitment to sustainable tourism growth. The expansion of event spaces and improved infrastructure will facilitate hosting a wide range of international events, further solidifying Hong Kong's status as a premier MICE hub.