Hong Kong’s economy is expected to grow between 2.5% and 3.5% in the first quarter, maintaining a steady pace for the fifth consecutive quarter. This growth is largely attributed to the efforts of finance chief Paul Chan, who announced this news on Sunday. 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.
As Hong Kong continues to seek out new sources of growth, mega events such as fireworks displays will be held to attract more tourists. According to Chan, approximately 800,000 visitors are expected to come for China’s Labour Day holiday on Wednesday. These initiatives are aimed at supporting and expanding the tourism sector in Hong Kong, which is a vital contributor to the city’s economy.
Despite challenges and uncertainties in other areas of the world, Hong Kong’s continued moderate growth suggests stability and potential for future development. This positive trend bodes well for the city’s economy and its residents alike.
