HK plans to lure overseas yachts, develop rental market

The government plans to attract overseas yacht owners by leveraging the city's taxation advantages, Secretary for Culture, Sports and Tourism Rosanna Law Shuk-pui said on Monday.

The initiative, highlighted in this year’s policy address, includes measures to provide additional yacht berths and relax requirements for visiting yachts.

Speaking at a Legislative Council briefing, Law stated the goal is to attract international yachts while also stepping up efforts to draw mainland Chinese tourists.

She pointed to the potential of developing a yacht rental sector. This would allow tourists, particularly those from inland regions unfamiliar with sailing, to experience trips with a captain and enjoy Hong Kong’s scenic harbour and island views.

In a broader update on tourism, Law revealed Hong Kong recorded 33.2 million visitors in the first eight months of 2024, a 12 percent year-on-year increase.

Mainland Chinese visitors totalled 25.5 million, accounting for the majority and marking an 11 percent rise. Non-mainland visitors saw a stronger 16 percent growth.

A notable highlight was a 40 percent surge in visitors from the Middle East, who numbered 54,000. This group was the top-spending demographic, with an average overnight expenditure of HK$10,400.

The average spending for all overnight travelers was HK$5,400. Mainland visitors spent an average of HK$5,000, while other travelers averaged HK$6,300 per night.

In a related move to cater to diverse tourists, the government will promote halal certification for local restaurants. A new subsidy will cover half the cost of certification applications, capped at HK$5,000.