Secretary for Culture, Sports and Tourism Kevin Yeung said on Saturday that financial incentives are not the only way to secure mega events in Hong Kong, after Singapore offered singer Taylor Swift an exclusive Southeast Asia performance deal.

Asked whether the SAR would mirror the city-state's approach, the minister said the administration has been working hard to get organisers to hold mega events in the territory.

Yeung said it was not as simple as paying more than other places to attract international stars to perform in Hong Kong.

"Does what Hong Kong have to offer [to organisers] depend on how much money the government is going to give? I think it may not be the case. Different places can offer different things, provide different types of audience," he told an RTHK programme.

"It sometimes also depends on how the performer looks at different markets. Therefore, there are many different factors."

The minister also revealed that the administration has found potentially new homes for an institution celebrating national achievements, after plans to relocate the Science Museum in Tsim Sha Tsui to make way for the establishment sparked controversy.

Under the government proposal, the new museum would take over the current location of the Science Museum, which in turn, would move to Shatin where the Heritage Museum is.

"We have never given up on seeking another spot for the new museum. There was also some misunderstanding when the proposal came out, with people saying they did not want the Science Museum to be relocated because it was a collective memory. We heard those views and we think the choice should be in the public's hands," Yeung said.

The administration is considering and reviewing the potential locations, the minister said, adding that officials will present their suggestions to the Legislative Council within the first half of this year.