Following the release of KPMG and BOSN’s report on the economic impact of major sports events last week, over 100 BOSN members, media and specially-invited guests, enjoyed insightful presentations from Peter Griffin and Alastair Graham of KPMG as well as Yeung Tak-Keung, the HKSAR's Commissioner for Sports on the future of sporting events in Hong Kong. The session delivered a couple of key takeaways:
- Hong Kong is performing well in comparison to other Asian markets but still has a way to go to reach its potential. New sport and mass participation events, especially those with international recognition, can have a significant impact on the local economy and the HKSAR is committed to fostering this.
- The HKSAR has recognised the need to encourage more private and commercial entities to back large-scale sports events financially and is therefore allocating $500 million matching scheme on private sector sponsorship. All events awarded “M” Mark status may apply for the matching fund on a dollar for dollar basis up to a maximum of $10 million.
Click here to download full report of KPMG and BOSN's joint study on The Future of Sporting Events in Hong Kong and here to download TK's presentation on The Government Support of Major Sports Events.
BOSN will continue to host seminars and networking events. If you are from the sports or events industry and would like to stay in touch with us, you are welcome to join BOSN by signing up here.
Photos: Ike LI / Ike Images