Cultural, Sports and Tourism Secretary Rosanna Law on Friday said the opening of the Kai Tak Sports Park is only the beginning of many mega events in March, adding that preparations are in the final stage.

Speaking at a press conference, Law said there will be a simple but grand ceremony on Saturday.

"The preparation for the opening of Kai Tak Sports Park is of course, at its final stage and a very intensive stage. Of course, rehearsals are ongoing, and then we are making final preparations for all the logistic arrangements," she said.

Asked about reports that Singapore will host concerts this year by American singer Lady Gaga, Law said Hong Kong will host Asian superstars and singers who haven't performed here for a long time.

"We are doing all we can with the Kai Tak Sports Park, the Tourism Board and other relevant bodies to try to attract and invite as many as possible international mega events to Hong Kong. It may or may not necessarily be just popular concerts."

In his budget speech on Wednesday, Financial Secretary Paul Chan said the government will earmark HK$1.2 billion for the Tourism Board, lower than the HK$1.5 billion in the current fiscal year.

In response to this, Law said the Tourism Board has enough reserves and she hopes the board will use its resources prudently.

"Each year, HKTB will be monitoring very closely and announcing the tourist spending and the tourist duration of stay, both for overnight visitors and for same-day visitors. These will obviously be some of the KPIs that we will be looking for," she said.