Hong Kong Football Festival’s economic impact stretches far beyond the city’s borders
Inter Milan eye potential for China growth, while event’s social media reach carries city’s name far and wide
The Hong Kong Football Festival is more than just another string to the city’s sporting bow, and in fact the 180 minutes on the pitch may be the least important part of the week.
An event that injected HK$437 million (US$56 million) into the local economy last year comes with a global credibility previously missing when games mostly involved players from seasons past.
Hong Kong is one of seven regions or countries in which promoters TEG Sports are overseeing 19 matches in 16 days, and the city is gaining in popularity with clubs aiming to deepen their Asian revenue streams, at a time when mainland China has gone cold on hosting overseas teams.
There are several reasons that Manchester City, Chelsea, Juventus and Inter Milan chose to include it in their pre-season plans, with the opportunity to reconnect with supporters in Asia and Hong Kong’s position as a gateway to mainland China high on the list.
For Inter, who beat City on penalties in the first of the festival’s two games on Saturday, the mainland is seen as a key pillar for growth and an essential stop in the race to catch up with financially bigger rivals in England and Spain.
Giorgio Ricci, Inter’s chief revenue officer (CRO), told the South China Morning Post that despite the club being among the top 10 most followed on Chinese social media, the “gap to be filled in terms of the visibility of our brand was here”.