Hong Kong Sports Sector Generates HK$46 Billion in 2024 Economic Value
SCMP · 2 SOURCESabout 1 hour ago2 MIN
Summary
The Census and Statistics Department released findings showing Hong Kong's sports and related activities generated HK$46 billion in value added at basic prices in 2024, representing 1.5 percent of the city's total economic output . This came as local athletes delivered a historic Olympic showing, capturing two gold medals through fencers Cheung Ka-long and Vivian Kong Man-wai, plus two bronze medals from swimmer Siobhan Haughey at the Paris Games .
Key Points
- Sports sector contributed HK$70 billion at market prices, or 2.2 percent of GDP, a marginal 0.1 percentage point decline from 2023
- Approximately 84,000 people were employed in sports and related activities, representing 2.3 percent of total employment in the city
- Supporting services for sports—including facilities construction, sports betting, media, medical services, and R&D—accounted for 39 percent of total value added, the highest among all component domains
- Sports facilities and clubs employed 47 percent of sector workers and contributed 35 percent of value added at basic prices
- Sports tourism emerged as the smallest component, contributing just 5 percent to total value added
Why It Matters
The data underscores sports as a meaningful but still developing pillar of Hong Kong's economy, with employment numbers and value contribution holding steady year-on-year . Lawmakers are now pushed to craft policies that build on Olympic success to elevate the sector's growth trajectory and international competitiveness.
The data underscores sports as a meaningful but still developing pillar of Hong Kong's economy, with employment numbers and value contribution holding steady year-on-year . Lawmakers are now pushed to craft policies that build on Olympic success to elevate the sector's growth trajectory and international competitiveness.