What can Hong Kong learn from Shanghai’s aggressive mega-event strategy?

Hong Kong should target high-spending multicultural audiences rather than mass-market tourism, experts have said in response to Shanghai unveiling plans for its mega-event economy – potentially putting the two cities in direct competition.

In terms of booking international superstars, Shanghai already has the lead. The mainland Chinese metropolis hosted two concerts by American diva Mariah Carey last week and will welcome renowned singer Katy Perry on stage on November 24 and 25.

Zhang Qi, the city’s cultural and tourism deputy director, earlier dropped a bombshell when he revealed that local officials had concluded preliminary talks with Taylor Swift’s team, adding that he felt optimistic that she would perform in Shanghai this year.

Shanghai authorities also plan on hosting international sports events to revive a local economy grappling with low consumer confidence due to the trade war between China and the United States.

The city already has 178 sporting events and other shows lined up so far this year.

Hong Kong, meanwhile, hopes to become a mega-event hub for locals and tourists to bolster its own economy, with the drive including the recent hosting of British rock band Coldplay’s concerts at the new Kai Tak Sports Park.