Quick takes

Hong Kong provides HK$550m to support HKTDC

In its 2023-24 budget, Hong Kong has allocated additional funding of HK$550 million (US$70 million) over five years to the Hong Kong Trade Development Council (HKTDC), aimed at helping local enterprises seize opportunities arising from the Belt and Road Initiative and development in the Greater Bay Area, as well as tap into emerging markets and step up global promotional efforts.

Thailand bidding to host Expo 2028 in Phuket

Thailand’s public and private sectors are joining hands in a bid to bring Expo 2028 to Phuket. At the Bureau International des Expositions in Paris on 22nd February, Thailand presented its case for hosting Expo 2028 and also presented Phuket’s sustainability credentials. The kingdom is one of five countries bidding to host the event, and the winner is set to be announced in June 2023.

PATA predicts strong tourism growth in Asia-Pacific

The Pacific Asia Travel Association (PATA) is forecasting a strong rebound in inbound visitor numbers to Asia-Pacific in 2023, with growth rates ranging from 71% to 104% according to various potential scenarios. Total visitor arrivals are expected to reach between 382.9 million and 712.7 million under the same scenarios.