The city’s finance chief has announced that Hong Kong’s GDP is expected to grow between 2.5% and 3.5% in the first quarter of 2024, continuing a trend of moderate growth for the fifth consecutive quarter. This news comes before the release of the January-March GDP figures, which are predicted to fall within the forecasted range for the full year.
To find new sources of growth, Hong Kong is planning to host mega events like fireworks displays in order to attract more tourists. It is estimated that 800,000 visitors will come to the city for China’s labor day holiday on Wednesday. These events are part of a strategy to boost tourism and drive economic growth in Hong Kong.
The city is putting efforts towards maintaining a steady pace of growth and attracting visitors through these initiatives. This aligns with its overall goal of promoting economic development and creating new opportunities for the city. With a focus on tourism and events, Hong Kong aims to continue its positive economic trajectory in the coming months.