Hong Kong tightens criteria for mega-events fund to boost tourism, stimulate growth
Mega ACE Fund review follows controversy over funding of football friendly that Lionel Messi sat out and HK$7.8 million Chubby Hearts installation
Hong Kong has tightened the criteria of a mega-events fund by requiring organisers to promote tourism and stimulate economic growth, while eyeing more efficient allocation of resources for a targeted 10 large-scale projects per year.
The government announced the new criteria on Saturday, saying it had consulted the Mega ACE Committee, reviewed the fund’s operation and funding, and considered developments in Hong Kong’s arts and culture sector.
It said the bureau would enhance the fund’s operation with a view to “more effectively” promote the development of arts and culture, while also “boosting tourism and the economy”.
The fund, launched in April 2023, has supported 20 large-scale arts and cultural events so far, with each event having a maximum of HK$15 million in funding.
It aims to back arts and cultural events that can promote the city as a centre for cultural exchanges and develop the arts, while bringing back tourists to Hong Kong after the pandemic.
