What: To give a well-needed boost to tourism, Hong Kong has announced a 500,000 airline ticket giveaway worth 254.8 million USD as well as dropped inbound quarantine requirements.

Why it is important: Luxury and retail markets will likely see a boost in business in 2023 due to Hong Kong’s plan to support an increase in tourism.

The ticket giveaway and the removal of all remaining travel restrictions will begin in 2023 as part of the city’s plan to attract visitors from around the world.

The airport authority had purchased the tickets from Cathay Pacific back in 2020 as a pre-emptive measure to boost tourism once restrictions eased.

Hong Kong offers free flights to boost tourist economy