Hong Kong’s finance chief has announced that the city’s GDP is expected to grow between 2.5% and 3.5% in the first quarter, continuing a trend of moderate growth for the fifth consecutive quarter. This news comes ahead of the release of the January-March GDP figures, which are predicted to fall within the forecasted range for the full year. The full-year forecast was set at 2.5% to 3.5% following a 3.2% expansion in 2023.
In order to find new sources of growth, Hong Kong is planning to host mega events such as fireworks displays to attract more tourists. It is estimated that around 800,000 visitors will come to the city for China’s labor day holiday on Wednesday. These events are part of an overall strategy aimed at boosting tourism and driving economic growth in Hong Kong.
The city is placing a lot of effort into 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 itself. By focusing on tourism and events, Hong Kong aims to continue its positive economic trajectory in the coming months.