Hong Kong’s economy is projected to experience moderate growth of between 2.5% and 3.5% in the first quarter, according to Financial Secretary Paul Chan. This will represent the fifth consecutive quarter of economic expansion for the city’s gross domestic product (GDP). The January-March GDP figures are set to be released on Thursday and are predicted to fall within the range of the full-year economic growth forecast.
As Hong Kong continues to seek new sources of growth, events such as fireworks displays are being organized to attract more tourists to the city. Chan announced that 800,000 visitors are expected to arrive for China’s labour day holiday on Wednesday. This underscores ongoing efforts to boost tourism and stimulate economic activity in Hong Kong.