'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.
Circle CEO Says China Could Launch Yuan Stablecoin In 3 To 5 Years As Trade Grows
Circle CEO Jeremy Allaire predicts that China could roll out a yuan stablecoin within three to five years to expand the... Read more
Naver IPO Timeline Set As Dunamu Merger Targets Nasdaq Debut
Preparations for a Naver IPO are underway following an agreement between Naver Financial and cryptocurrency exchange op... Read more
TransUnion Urges Lenders To Rethink Credit Risk For Gig Workers In Hong Kong
TransUnion is urging lenders to update their risk assessment models, revealing that gig workers in Hong Kong exhibit st... Read more
Citi And Endowus Roll Out HK$4,000 Wealth-Linked Credit Card Campaign
Citi and digital wealth platform Endowus have launched a joint credit card promotion in Hong Kong, expanding the Citi E... Read more
Aspire Secures SFC License In Hong Kong To Launch SME Yield Product
Singapore-headquartered fintech Aspire has secured three financial licenses from the Securities and Futures Commission ... Read more
Why Stablecoins May Become The Backbone Of 24/7 Global Trade
Stablecoin transaction volumes surged 72% in 2025, reaching a record US$33 trillion and signalling growing institutiona... Read more