Hong Kong’s GDP is forecast to grow between 2.5% and 3.5% in the first quarter, maintaining a steady pace of growth for the fifth consecutive quarter, announced finance chief Paul Chan on Sunday. The January-March GDP figures will be released on Thursday and are expected to fall within the range of Hong Kong’s full-year economic growth forecast.
Hong Kong is looking for new sources of growth and has planned mega events such as fireworks displays to attract more tourists. Finance chief Paul Chan mentioned that around 800,000 visitors are expected to come for China’s Labour Day holiday on Wednesday. These initiatives aim to sustain and expand Hong Kong’s tourism sector, which is a crucial driver of economic growth for the city.
The continuous moderate growth in GDP indicates a positive trend for Hong Kong’s economy, suggesting stability and potential for further development in the future. As Hong Kong continues to grow economically, it remains a vital hub for international trade and commerce in Asia.