The recent football festival in Hong Kong is projected to generate up to HK$428 million (US$54.5 million) in economic value for the city, according to industry analysts. This surge is expected to benefit various sectors, particularly retail, hospitality, and transportation. One representative from the hotel industry noted that room rates are forecasted to rise by 12 percent during the event compared to the same period last year, surpassing the initial estimate of an 8 percent increase.
The Hong Kong Football Festival, which began on Thursday, featured four top-tier European clubs — Liverpool, AC Milan, Arsenal, and Tottenham Hotspur — competing at Kai Tak Stadium.
TEG Sport, the event’s organizer, reported that over 35,000 fans attended the open training sessions of Liverpool and AC Milan on Thursday and Friday. The match between these two teams on Saturday attracted 49,704 spectators, marking the highest attendance for a live football game in Hong Kong.
Rachael Carroll, managing director of TEG Sport, expressed enthusiasm about the overwhelming interest from local fans as well as supporters from mainland China and other parts of the globe.
— news from South China Morning Post
— News Original —
Hong Kong expected to gain HK$428 million economic boost from football festival
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. n nOne 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. n nThe 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. n nOrganiser 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. n nIt said Saturday’s match between the two clubs drew 49,704 people, the largest crowd for a live football match in Hong Kong. n n“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.