First half of 2024 sees visitor surge

The Tourism Board has announced that the provisional figure for visitor arrivals in June was 3.13 million, marking a 14% increase year on year.

Cumulatively, about 21 million visitors arrived in Hong Kong in the first half of 2024, representing a 64% increase year on year.

(Source: news.gov.hk)

Overnight visitors accounted for 50% of all visitor arrivals during the period, while the meetings, incentives, conventions and exhibitions (MICE) tourism sector showed particular vibrancy.

Tourism Board Director and Business Development Team Lead (MICE) Phoebe Shing outlined that in the first half of 2024, Hong Kong received 700,000 MICE travellers. This amounted to about 80% of the number in the same period of 2018, making MICE travel the fastest recovering visitor segment in Hong Kong.

(Source: news.gov.hk)

Each overnight MICE visitor spent an average of $8,000 in Hong Kong, which is about 20 to 30% higher than the average per capita spend of all inbound overnight visitors. MICE visitors stayed in town for 3.7 nights on average, higher than the average of 3.2 nights for all overnight visitors.

Half of the overnight MICE visitors came from international markets, compared to 25% of all overnight visitors. Ms Shing said this indicates that the MICE sector is helping to attract more international tourists to Hong Kong.

(Source: news.gov.hk)

The Government highlighted that more than 210 mega events are being held throughout 2024, across a wide range of fields such as culture, art, and sports.

Together, these events are anticipated to attract approximately 1.7 million visitors to Hong Kong, bringing in $7.2 billion in consumption revenues and adding approximately $4.3 billion to the local economy.

(Source: news.gov.hk)

The Government said mega events not only bring business opportunities but also enhance Hong Kong’s international status and image, by attracting tourists from all over the world to experience the vitality of Hong Kong.

Meanwhile, in the recently announced “Asia’s 50 Best Bars 2024” list, a bar in Hong Kong took the top award. Hong Kong had four bars in the top 10, more than any other city, confirming its top-ranking status on the Asian bar scene.

(Source: news.gov.hk)

InvestHK promotes Hong Kong's advantages as multinational supply chain management centre during CIFIT

Invest Hong Kong (InvestHK) hosted a seminar at the 24th China International Fair for Investment and Trade (CIFIT) in Xiamen, Fujian Province, yesterday (September 8), encouraging Mainland enterprises to make use of Hong Kong's advantages as a multinational supply chain management centre to expand overseas amid the Belt and Road Initiative and the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) development.

Entitled Hong Kong as a multinational supply chain management centre for Mainland enterprises, the seminar was organised by InvestHK, the Commercial Office of the Economic Affairs Department of the Liaison Office of the Central People's Government (LOCPG) in the Hong Kong Special Administrative Region (HKSAR), the Hong Kong Economic and Trade Office in Guangdong, and the Department of Commerce of Fujian Province. It was co-organised by the China Council for the Promotion of International Trade Xiamen Committee, the Federation of Industry and Commerce of Xiamen (General Chamber of Commerce) and the China Council for the Promotion of International Trade, Quanzhou Committee. The seminar began with remarks from Associate Director-General of Investment Promotion Dr Jimmy Chiang and the Deputy Director-General of the Economic Affairs Department and Head of the Commercial Office of the LOCPG in the HKSAR, Mr Zhou Qiang, as well as Vice Chairman of the Xiamen Municipal Committee of the Chinese People's Political Consultative Conference Mr Huang Peiqiang.

Dr Chiang said, "Hong Kong is Fujian's largest source of foreign direct investment as well as its largest investment destination. It is also the key listing market for Fujian enterprises. Under the 'one country, two systems' principle, Hong Kong offers distinctive advantages as a springboard for mainland companies to 'go global'. The HKSAR Government is committed to developing the city as a multinational supply chain management centre. Hong Kong, as Asia's preferred international financial and business centre, offers Mainland enterprises comprehensive and well-developed professional services, making it the best place for them to set up and manage offshore trade centres."

Mr Zhou said, "In the process of China's reform and opening up, Hong Kong serves as a main bridge for trade and investment, and an important channel for international capital to enter the Mainland market. One of the points emphasised at the Third Plenary Session of the 20th Central Committee of the Communist Party of China is about reinforcing international co-operation in industrial and supply chains. Hong Kong and Fujian can contribute a lot on this frontier. Hong Kong is a global financial and wealth centre, and a hub for high-calibre talent; the city has unrivalled advantages to become an important multinational supply chain centre". He also told the seminar about the function of the Commercial Office of the Economic Affairs Department of the LOCPG in the HKSAR. The Commercial Office is the representative of the Ministry of Commerce in Hong Kong, offering consultation and services to enhance the two-way investment and economic and trade communication between the Mainland and Hong Kong.

The Head of Mainland and GBA Business Development of InvestHK, Ms Loretta Lee, talked about Hong Kong's unique business advantages and the range of services that InvestHK offers to Mainland enterprises in assisting them to achieve high-quality development via Hong Kong. Assistant General Manager of the Business Divisions-Structured/Special Risk Solutions of the Hong Kong Expert Credit Insurance Corporation Mr Dennis Wong talked about the role of the Hong Kong Expert Credit Insurance Corporation. In the panel session under the theme of "Multinational supply chain management centre: application and practice", Executive Vice President and Head of Sales and Client Management, Global Trade Solutions of Hang Seng Bank Limited, Mr Matthew Lam; the Chairman of Pace Supply Chain International Limited, Mr Simon Pun; Deputy General Manager of the International Development Department of Xiamen ITG Group Corp Ltd Mr Allen Lian; as well as Mr Wong, shared practical experiences in investment in Hong Kong.

For photos of the seminar, please visit www.flickr.com/photos/investhk/albums/72177720320193599.

InvestHK promotes Hong Kong's advantages as multinational supply chain management centre during CIFIT Source: HKSAR Government Press Releases

InvestHK promotes Hong Kong's advantages as multinational supply chain management centre during CIFIT Source: HKSAR Government Press Releases

InvestHK promotes Hong Kong's advantages as multinational supply chain management centre during CIFIT Source: HKSAR Government Press Releases

InvestHK promotes Hong Kong's advantages as multinational supply chain management centre during CIFIT Source: HKSAR Government Press Releases

InvestHK promotes Hong Kong's advantages as multinational supply chain management centre during CIFIT Source: HKSAR Government Press Releases