The Hong Kong economy is expected to grow between 2.5% and 3.5% in the first quarter, marking the fifth consecutive quarter of moderate growth. The gross domestic product (GDP) for January-March is anticipated to be released on Thursday and is expected to fall within the range of the full-year economic growth forecast. This follows a forecast made in February by Financial Secretary Paul Chan, predicting a full-year growth of 2.5% to 3.5% after a 3.2% expansion in 2023.
In an effort to boost economic growth, Hong Kong is exploring new avenues for growth, such as hosting mega events like fireworks to attract more tourists. As the city continues to navigate economic challenges and explore new growth opportunities, measures are being taken to sustain and enhance economic performance in the coming quarters.
To stimulate economic activity, Hong Kong is also focusing on increasing tourist numbers, with around 800,000 visitors expected for China’s labor day holiday on Wednesday. This indicates that efforts are being made to attract more tourists and boost the local economy.
Overall, despite facing economic challenges in recent years, Hong Kong’s economy remains resilient and optimistic about its future prospects. As the city continues its efforts to promote economic growth and sustainability in the coming quarters, it looks forward to a cautiously optimistic outlook for its future.
