We all want Taylor Swift but is Hong Kong prepared to compete at any cost?

Reigniting our tourism industry to drive economic growth and enhance our image overseas has become a hot topic of discussion in Hong Kong in recent months. The industry has historically maintained a high profile because of the visibility of our overseas visitors, and it has been a steadfast economic pillar. In 2019, before the Covid-19 pandemic, it accounted for 3.6 per cent of our economy and made up 6 per cent of employment. In recent weeks, the extensive media coverage has centred around revelations that the Singapore Tourism Board and the Ministry of Culture, Community and Youth secured exclusivity for Taylor Swift’s Eras Tour in Southeast Asia with financial inducements. The news has reverberated worldwide, sparking regional displeasure and starkly illustrating a sharp escalation in competition to secure the hosting rights for the most prestigious events. It reflects the benefits associated with hosting such premium events.