2024 Policy Address Hong Kong Chief Executive John Lee

2024 Policy Address Unveils Game-Changing Plans For Hong Kong

The 2024 Policy Address is here, and Chief Executive John Lee has unveiled bold plans to help Hong Kong make a comeback as the global hub it has long been. With fresh initiatives in tourism, tech, housing, and sustainability, the government aims to reinvigorate the city’s appeal. Letโ€™s dive into the most exciting updates shaping Hong Kongโ€™s future.

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2024 Policy Address Hong Kong Middle Eastern ASEAN tourists
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Hong Kongโ€™s New Tourism Focus Takes Flight

Hong Kongโ€™s tourism strategy is shifting gears, aiming to turn everyday moments into attractions. The new Working Group on Developing Tourist Hotspots will seek out lesser-known corners of the city to make tourism feel accessible everywhere, not just at famous landmarks. Also, expect more mega-events, like those at Kai Tak Sports Park, and a cultural refresh at the West Kowloon Cultural District to pull in international visitors.

Inclusivity is also a key focus. The Hong Kong Tourism Board (HKTB) is actively targeting the Middle East and ASEAN markets, working with hotels, restaurants, and attractions to become more Muslim-friendly. This includes expanding halal-certified dining options, adding more prayer facilities, and ensuring that the city can welcome and accommodate a diverse range of travellers. With these changes, Hong Kong aims to strengthen its appeal and become a go-to destination for Muslim travellers, as well as other new visitor groups.

2024 Policy Address Hong Kong Liquor Duty
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Luxury Liquor At 10% Duty And A Gourmet Guide To Explore

On top of these efforts, thereโ€™s more good news for foodies and cocktail lovers. The city is slashing liquor duties on premium spirits โ€“ alcohol priced above HKD$200 will now face just a 10% duty instead of the previous 100%. This change is set to welcome more luxury wines and high-end liquors, making premium selections more accessible. The policy not only caters to fine-dining enthusiasts but also bolsters Hong Kongโ€™s position as a top-tier destination for food and beverage connoisseurs. Adding to the culinary excitement, a soon-to-launch gourmet guide will map out the best eateries across the cityโ€™s 18 districts. From local street food stalls to upscale dining experiences, the guide celebrates the full spectrum of Hong Kongโ€™s gastronomic diversity.

2024 Policy Address Hong Kong public housing
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Dual Focus On Housing And The Silver Economy

On a more serious note, the government is tackling housing challenges with renewed urgency. Promising shorter wait times for public housing and boosting the availability of youth hostels and subsidised sale flats, these efforts aim to make homeownership more attainable for young people whoโ€™ve long felt locked out of the market. Alongside housing reform, Hong Kong is embracing the ‘silver economy’ โ€“ a growing sector focused on serving the needs of the cityโ€™s ageing population. This includes developing senior-friendly financial plans and encouraging businesses to tap into ‘silver consumption’, which refers to products and services tailored for older adults. From healthcare to leisure activities and accessible technology, these initiatives not only foster wellness but also drive economic growth.

2024 Policy Address Hong Kong expat professionals
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Scholarships And New Opportunities Await

Also, as global competition for talent intensifies, Hong Kong is stepping up its game by streamlining visa policies to attract high-caliber professionals. Key updates include extending the duration of multiple-entry visas and easing entry requirements, particularly for professionals from ASEAN countries. These changes make it simpler for top-tier talent to live and work in Hong Kong, positioning the city as a more accessible hub for global expertise.

The focus isnโ€™t just on professionals. Hong Kong is also putting students in the spotlight with the “Study in Hong Kong” campaign, designed to attract bright minds from around the world, with a special emphasis on students from ASEAN nations. Postgraduate scholarships are being expanded, encouraging lifelong learning and enhancing opportunities for academic growth. A major part of this effort is the development of the Northern Metropolis University Town, which aims to foster cross-border education partnerships and international student programmes, creating a thriving hub for nurturing future talent.

2024 Policy Address Hong Kong artificial intelligence
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HKD$10 Billion Bet On AI, Robotics And Start-Ups

The future is looking greener and more tech-driven for Hong Kong. The government’s climate goals are bolstered by practical steps, such as subsidies for electric taxis and hydrogen-powered heavy vehicles. But itโ€™s not just focused on sustainability โ€“ innovation is also a top priority. A massive $10 billion Innovation & Technology fund is being set up to spark advancements in fields like robotics, life sciences, and artificial intelligence. Aspiring entrepreneurs will also benefit from the new start-up accelerator pilot scheme, which offers crucial funding and support to help turn business ideas into reality.

Additionally, the government is embracing cutting-edge technologies like blockchain and AI to modernise public services. From AI-powered systems that handle public inquiries to blockchain-based certifications, Hong Kong is focused on digitally transforming the way residents and businesses interact with the city, making public services more efficient and accessible.

2024 Policy Address Hong Kong global hub
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How Hong Kong Plans To Win Over The World (And Its Own People)

At the heart of Hong Kong’s transformation is a vision to become a hub for culture, cuisine, and creativity. The 2024 Policy Address is all about redefining what Hong Kong can offer โ€“ not just to the global audience but to its own residents. With a stronger emphasis on community engagement, sustainable tourism, and attracting top talent, the government is working towards a future where every neighbourhood becomes a destination worth exploring.


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