Financial Secretary Paul Chan said Hong Kong's mega events have given the local economy a solid lift, with strong visitor turnout and sustained retail growth in the first half of this year.

In his weekly blog on Sunday, Chan revealed that over 130 events drew approximately 1.75 million visitors, generating an estimated HK$5.8 billion in consumer spending and contributing roughly HK$3.3 billion in economic value.

This influx of activity has been a key driver for the retail sector, which has now recorded 14 consecutive months of growth, with a cumulative increase of 9.6 percent for the first six months of the year.

Chan highlighted the recent Hong Kong Football Festival and Football Summit as prime examples of this momentum.

The three matches held at Kai Tak attracted more than 120,000 spectators, with ticket revenue alone expected to surpass HK$180 million.

"Restaurants near Kai Tak reported a business increase of approximately 20 percent during this period," he said.

"Many merchants devised creative strategies to boost business, such as offering promotions linked to event ticket stubs, dining discounts and free parking."

The cultural sector has also contributed to the city’s vibrancy, Chan added.

At the Hong Kong Palace Museum, the number of visits at the "Ancient Egypt Unveiled: Treasures from Egyptian Museums" exhibition has topped 570,000 since its launch late last year, with sales of roughly 200 related cultural products exceeding HK$30 million.

In the last financial year, combined revenue for the Hong Kong Palace Museum and the M+ Museum rose 22 percent year-on-year — underscoring the growing importance of venue rentals and cultural merchandise.

Looking ahead, Chan painted an upbeat picture for the remainder of the year.

With over 100 events already on the calendar — including a food expo, the National Day fireworks, the Hong Kong Cyclothon, and the Wine and Dine Festival — the city expects to welcome more than 1.85 million visitors and generate approximately HK$5.9 billion in spending.

In a significant milestone, Hong Kong will also host the Asia-Pacific Economic Cooperation Finance Ministers' Meeting for the first time in October.

Chan emphasised that this presents a golden opportunity to showcase the city as a premier financial hub and a dynamic destination for arts, sports and lifestyle.



Edited by Tony Sabine