Hong Kong's economy expanded 2.7 percent in the first three months of the year following four consecutive quarters of contraction, Chief Executive John Lee said on Tuesday.

Speaking hours before official GDP data was due to be released, Lee said the latest figure reversed course from a 4.1 percent contraction in the last quarter of 2022.

"While exports still fell in the first quarter, as the mainland economy continues to pick up and with the accelerated recovery in our aviation capacity, I believe Hong Kong's economy in the second quarter will be better than the first quarter," he told reporters ahead of this week's Executive Council meeting.

"The economy this year will definitely be better than last year," he added.

The CE also said more than 760,000 people visited Hong Kong at the weekend, going to different parts of the city including country parks and outlying islands, as well as the usual shopping and tourist hotspots.

"I am in support of diversity and creating more attractions for tourists to come," Lee said.

"This will not just help tourism, but also make local developments to go hand-in-hand with the development of tourism and helping overall job creations and development of the economy, and also create a positive image of Hong Kong being a very vibrant and attractive city."

Lee added that the government will ramp up efforts to promote the use of electronic payment to bring convenience to people visiting Hong Kong.