Hong Kong could attract big spenders ‘with global sports events for various ages’

Hong Kong could attract more high-spending visitors by hosting international sporting games for young, middle-aged and elderly competitors, a think tank has said, calling on authorities to establish a certification system to help fund innovative and emerging events.

Our Hong Kong Foundation on Thursday released a research report on developing the city into a “mega sports events capital”. The proposals included setting up a special label for emerging events that would be subject to a funding cap of HK$10 million (US$1.28 million).

Such events would also have the potential to eventually gain “M” label status, which would qualify them for millions of Hong Kong dollars in public funding.

Foundation president Jane Lee Ching-yee said Hong Kong had “an unprecedented golden opportunity” to promote sports, given the great report card delivered by the city’s athletes, the coming National Games and the opening of Kai Tak Stadium this year.

“Hong Kong should seize the chance to push for the overall sports industry development through sports mega-events,” she said.

“The government estimated that mega-events brought in 840,000 visitors, HK$3.3 billion in consumption and HK$1.8 billion in economic value in the first half of the year.