Hong Kong’s economy is predicted to experience moderate growth in the first quarter, with a forecasted growth rate of between 2.5% and 3.5%, according to the city’s finance chief. This marks the fifth consecutive quarter of economic expansion for Hong Kong’s gross domestic product (GDP). The January-March GDP figures will be released on Thursday and are expected to fall within the range of the full-year economic growth forecast. Financial Secretary Paul Chan had previously predicted a full-year growth rate of 2.5% to 3.5% after a 3.2% expansion in 2023.
As Hong Kong continues its search for new sources of growth, events such as fireworks displays are being organized to attract more tourists to the city. Chan announced that around 800,000 visitors are expected to arrive for China’s labour day holiday on Wednesday, indicating ongoing efforts by the city to stimulate economic activity through tourism.
