Hong Kong’s sports sector in 2024 helped generate extra HK$46b in value
Hong Kong’s sports sector helped to generate an extra HK$46 billion (US$5.9 billion) in value for the economy in 2024, the year local athletes clinched two gold and two bronze Olympic medals, with a lawmaker calling for targeted policies to build on that success. The Census and Statistics Department on Monday released an analysis of contributions to Hong Kong’s economy by sports and related…
In 2024, Hong Kong's sports sector contributed an additional HK$46 billion (US$5.9 billion) to the local economy, a 1.5% increase in value added at basic prices. This success was highlighted by Hong Kong's athletes achieving two gold and two bronze medals at the Paris Olympics. The sports industry and related sectors accounted for 2.2% of Hong Kong's GDP at market prices, a 0.1 percentage point decrease from the previous year.
Employing about 84,000 people, the sector contributed to 2.3% of total employment. The operation of sports facilities and clubs, manufacturing, and retail trade of sports goods were the largest contributors to the sector's value added at basic prices, making up 47%, 20%, and 19% of value added, respectively. Lawmaker Vincent Cheng called for targeted policies and the establishment of a statistical database to assess local demand for sports talent.
Written by urgent.news from South China Morning Post's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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