Budget 2016: Spending the surplus #3 – Yiu Si-wing (姚思榮)

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What’s an FS to do with $100 billion spare cash? LegCo members weigh in on priorities for  the surplus, whatever it is. Today: Yiu Si-wing.


Yiu Si-wing (姚思榮) – Independent; FC – Tourism

The Chief Executive allocated a total of $90 million to promote Hong Kong’s tourism industry in last year’s Policy Address. Nothing was mentioned however in his recent one. The tourism industry is expecting similar, if not more, given the current business ‘winter’. But even if there is such a plan in the Financial Secretary’s Budget, I expect the Government to draw from last year’s lesson to put the money in the correct place.

The HAPPY@hongkong Super JETSO 2015 campaign was a good initiative as it helped boost local consumption while driving tourist flow. The third stage, an additional $10 million to launch the Matching Fund for Overseas Tourism Promotion by Tourist Attractions in late 2015, was also a success. However, the Hong Kong Summer Fun campaign, which gave out hundreds of million dollars worth of prizes to overnight visitors, was less successful as local people were not eligible to take part in the campaign. The industry needs the money, but we want it smart.