Hong Kong’s economy is expected to maintain moderate growth in the first quarter, with a predicted GDP growth rate between 2.5% and 3.5%. This will be the fifth consecutive quarter of steady growth, as announced by Finance Chief Paul Chan on Sunday. The January-March GDP figures will be released on Thursday and are expected to fall within the range of Hong Kong’s full-year economic growth forecast.
To sustain and expand the tourism sector, which is a crucial driver of economic growth for the city, Hong Kong is looking for new sources of growth. One such initiative is the holding of mega events such as fireworks displays to attract more tourists. Finance Chief Chan mentioned that 800,000 visitors are expected to come for China’s Labour Day holiday on Wednesday. These events are aimed at boosting the city’s tourism industry and promoting economic development.
The continuous moderate growth in GDP indicates a positive trend for Hong Kong’s economy, signaling stability and potential for further development in the future. Overall, this steady growth suggests that Hong Kong’s economy is on track for continued success in the coming months and years.