Hong Kong is projected to experience moderate growth in the first quarter, with its GDP anticipated to expand between 2.5% and 3.5%. This marks the fifth consecutive quarter of such growth, following a 3.2% increase in 2023. The forecast for the full year is set at 2.5% to 3.5%, based on expectations that the January-March figures will fall within this range.
To drive economic growth and attract more tourists, Hong Kong is planning to host mega events like fireworks displays in the coming months. These initiatives are part of a broader strategy aimed at boosting tourism and promoting economic development in the city. In particular, it is estimated that around 800,000 visitors will come to Hong Kong for China’s labor day holiday on Wednesday.
In order to maintain a steady pace of growth and continue its positive economic trajectory, Hong Kong is putting efforts towards attracting visitors through these initiatives. This aligns with the 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.
