Hong Kong expected to gain HK$428 million economic boost from football festival
Eight-day event, featuring stars from clubs such as Liverpool and AC Milan, is boon for retail and hospitality sectors, experts say
Hong Kong could reap as much as HK$428 million (US$54.5 million) in economic benefits from the city’s eight-day football festival, experts have said, bringing about a windfall for sectors such as retail, hospitality and transport.
One hotel sector representative said his firm expected a 12 per cent increase in room rates over the event period compared with the same time last year, exceeding their original forecast of an 8 per cent rise.
The Hong Kong Football Festival, which kicked off on Thursday, involves four major European clubs – Liverpool, AC Milan, Arsenal and Tottenham Hotspur – at Kai Tak Stadium.
Organiser TEG Sport told the Post that more than 35,000 fans attended the open training sessions for Liverpool and AC Milan on Thursday and Friday.
It said Saturday’s match between the two clubs drew 49,704 people, the largest crowd for a live football match in Hong Kong.
“We have seen incredible demand from Hong Kong football fans and those in mainland China and around the world,” TEG Sport managing director Rachael Carroll said.