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 review of the Mega Arts and Cultural Events (ACE) Fund by the Culture, Sports and Tourism Bureau followed controversy over the highly-anticipated football match that Argentinian superstar footballer Lionel Messi sat out and the Chubby Hearts installation costing HK$7.8 million (US$1 million) – both events that received funding.
The government announced the new criteria on Saturday, saying it had consulted the Mega ACE Committee, reviewed the fund’s operation and funding mode, 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 in the city, while bringing back tourists to Hong Kong post-pandemic.