HK expects 3% GDP growth

  • Writer : Admin
  • Date : 2023.11.07

According to the Financial Secretary, despite the external headwinds, highly complex and changing circumstances, he expect the Gross Domestic Product growth to be over 3%. While it is a little lower than what he would like to see, the recovery is sustaining. And with continuous improvements to the connectivity with the outside world, by having full resumption of international flights, more visitors will come to Hong Kong and more businesses will flow from that.

For the short-term, the major driver supporting our economic growth for the rest of this year, and probably for the first quarter next year, would continue to be export of services, ie inbound tourism and private consumption. For the medium-term, financial services and innovation and technology (I&T) will be our twin engines of growth.