Animal
[Main Image: Twin panda cubs at Ocean Park, Hong Kong. Source: Ocean Park]
Hong Kong is embracing a panda frenzy as part of its latest strategy to revive its tourism industry, which has been struggling to regain momentum following the COVID-19 pandemic and large-scale protests. The city's six pandas, including twin six-month-old cubs, are at the forefront of this effort, with hopes of sparking a viral moment that could attract a surge of visitors.
The Panda Appeal
The twin cubs, born to Ying Ying, the world's oldest first-time panda mother at almost 19 years old, are set to make their public debut at Ocean Park this weekend. This event is expected to draw significant crowds, much like the recent public debut of five-year-old Ke Ke and her mate An An, which also attracted large audiences. Ocean Park's Chairman, Paulo Pong, believes the cubs are a "game changer" for the park, which has already seen a boost in visitation numbers, reaching pre-pandemic levels.
Economic Challenges
Despite the short-term excitement generated by the pandas, Hong Kong faces significant economic challenges. The city's visitor numbers remain below pre-COVID highs, with about 45 million people visiting last year, far from the record 65 million in 2018. The tourism industry is crucial for Hong Kong's economy, with the government aiming to increase its contribution to HK$120 billion by 2029.
Tourism Strategies
Hong Kong has implemented various strategies to boost tourism, including offering free plane tickets and hosting mega-events. However, these efforts have largely been unsuccessful, with retail sales declining for a tenth consecutive month in December. The pressure is now on the pandas to deliver a sustained tourism boost.
Panda Diplomacy and Economics
Pandas have long been used as a diplomatic tool, with Hong Kong's pandas gifted by Beijing. Other cities have spent substantial sums to host pandas; for example, Washington, D.C.'s National Zoo pays $1 million annually for a pair. Keeping pandas is expensive, as seen in Finland, where a zoo returned its pandas early due to high annual costs.
Capitalizing on Panda Popularity
Ocean Park plans to capitalize on the pandas' popularity by developing intellectual property, such as cartoons, movies, and comic books. This strategy aims to generate steady revenue for the park in the long term. With a growing interest from international visitors, particularly from Southeast Asia and India, Ocean Park is also offering premium experiences, including private sessions to see the pandas.
Conclusion
While the pandas are proving good for business in the short term, converting this into a sustained economic boost remains a challenge. As Hong Kong continues to navigate its economic and tourism recovery, the pandas will undoubtedly play a central role in attracting visitors and boosting morale. However, broader strategies will be needed to fully revive the city's economy and tourism industry.
Source:
Adrian Wong, Bloomberg https://www.bloomberg.com/news/articles/2025-02-13/baby-panda-frenzy-is-hong-kong-s-big-bet-to-get-tourists-back