Hong Kong’s Economic Resurgence: Night Markets, Conferences, New Tourism

The vibrant cultural hub of Hong Kong is set for an exciting new chapter. In a bid to drive economic recovery and attract tourists, Hong Kong is innovating and adapting. The city’s finance chief, Paul Chan, recently stated that the city plans to introduce night markets and host more conferences and exhibitions.

One of the primary goals is to meet the evolving needs of consumers, especially young tourists, who are increasingly drawn to Hong Kong for its diverse cultural, artistic, and exhibition activities. The city’s recent Ani-com & Games exhibition, which attracted participants primarily from mainland China and Southeast Asia, is testament to this changing landscape.

In his blog, Chan emphasized the necessity of accurately capturing customer values in creativity, quality and user experience. This understanding will help shape the city’s approach to the development of a diversified, high value-added, and sustainable tourism industry.

Additionally, the government plans to resurrect the city’s night bazaars, working hand-in-hand with various sectors. These lively night markets are not only a crucial part of the city’s cultural identity, but also a significant boost to the local economy.

Hong Kong's economic recovery strategy comes in the wake of the government’s revised DBP growth forecast for 2023, now set between 4 to 5%.

Tourism, coupled with private consumption, continues to be a significant driver in Hong Kong’s economic recovery. The city experienced a real GDP growth of 1.5% year-on-year in the second quarter of 2023. So, whether you’re a thrill-seeking adventurer, a culture enthusiast, or a night-owl, Hong Kong is ready to offer a captivating experience like no other.