'Tourism Sector Must Be Upgraded Before Reopening'

"); jQuery("#212 h3").html("

"); });
2022-02-25 HKT 13:26
Commerce Secretary Edward Yau on Friday stressed the importance of upgrading the tourism industry to prepare for an eventual border reopening.
In the financial secretary’s latest budget, HK$1.26 billion has been earmarked for boosting the tourism sector and the money will be used, among other things, to train staff and launch tourism products with cultural and heritage elements.
Speaking at a briefing on the latest budget, the commerce minister said some HK$3.8 billion has been dished out to travel agents and their staff to help the industry stay afloat amid the pandemic.
Yau said the sector has been more resilient than officials expected, with fewer agencies shutting down than feared.
“They are coping, waiting that when the fine day comes, where tourists can come back, they would have the ability to rebound. That’s why the second tranche of support, including enhancing Hong Kong’s attractiveness as a tourism destination is so important,” he said.
“I think Hong Kong remains a very attractive place for tourists. But of course, for the entire world, Covid has been putting up a major barrier. So we are taking this opportunity of this lull period to upgrade the trade as a whole, to maintain Hong Kong’s image and also to equip every frontline practitioner.”
The minister wouldn’t say when the border will reopen, but said there’s great hope for recovery after Hong Kong controls the epidemic.
TOPPAN Edge Becomes Japans First Qualified VLEI Issuer
The Global Legal Entity Identifier Foundation (GLEIF) has announced TOPPAN Edge, a subsidiary of TOPPAN Holdings that p... Read more
SFC And Dubais DFSA Partner On Cross-Border Regulatory Cooperation
The Dubai Financial Services Authority (DFSA), the independent regulator of the Dubai International Financial Centre (D... Read more
Toss To Launch Finance Super-App In Australia, Plans Won-Based Stablecoin
South Korea’s fintech unicorn Toss is preparing to launch its finance super-app in Australia before the end of this y... Read more
China Funds Research On Stablecoins And Cross-Border Oversight
China’s largest government-backed research funder has begun accepting applications for studies on stablecoins and the... Read more
XTransfer, CZBank Shanghai Branch Form Cross-Border Finance Partnership
XTransfer has entered into a partnership with the Shanghai branch of China Zheshang Bank (CZBank). The agreement was si... Read more
Brinc Launches VentureVerse Through Acquisition Of OG Club
Brinc, a Hong Kong-based venture acceleration and corporate innovation firm, has acquired OG Club, a decentralised auto... Read more