Hong Kong’s Year 2024 Chronicles Unmet Expectations, Golden Olympic Moments, and Evolving Consumer Interests
The year 2024 was one of mixed emotions for Hong Kong residents, highlighted by the absence of football superstar Lionel Messi, success at the Paris Olympics, and shifting consumer trends as the city navigated its post-pandemic recovery.
Messi was the centerpiece of disappointment when he visited Hong Kong for a friendly match with his team, Inter Miami. Fans had rushed to purchase tickets, only to find Messi watching from the sidelines. This led to widespread frustration, represented by more than 1,400 complaints filed with the Consumer Council concerning the event. With 302 complaints reportedly filed by tourists alone, the match became the top local news-related search term of the year, capturing the attention of disgruntled fans.
To address the backlash, Tatler Asia, the event’s organizer, opted to withdraw its request for a HK$16 million government grant, instead offering fans disappointed by Messi's absence a 50% refund on their tickets.
Not only did the sports world dominate searches, but so did Hong Kong’s local cinema. Films such as Twilight of the Warriors: Walled in and The Last Dance were standout hits, emphasizing the city’s vibrant film industry and capturing audiences at international festivals.
Meanwhile, the Paris Olympics brought not just gold medals but pride to Hong Kong, with residents celebrating local fencers and swimmers for bringing home four medals—two gold and two bronze. Fencers Vivian Kong and Edgar Cheung, along with swimmer Siobhan Haughey, were identified as the top local public figures searched this year. Notably, they ranked higher than many international figures.
Technological disruptions also marked the year's searches, with CrowdStrike's systems outage affecting operations at the Hong Kong International Airport, leading to manual check-ins for several flights. This incident showcased the delicate nature of digital dependencies faced by infrastructure across the globe.
Despite the various social and economic perturbations, political topics took a noticeable backseat this year. The absence of searches spotlighting political figures or movements was apparent amid 45 pro-democracy activists imprisoned under the national security law, reflecting perhaps a sense of fatigue or disillusionment. The year saw fewer passionate discussions of governance as citizens redirected their attention to more direct cultural phenomena.
The cultural zeitgeist was also influenced by the youth, who popularized slang like "playing badminton"—a term derived from the government’s Citizenship, Economics and Society curriculum, which suggested students could distract themselves from sexual impulses by engaging in sports. This quirky phrase and others orbiting social media made headlines and reflected shifting lifestyles of Hong Kong’s younger generation.
On the economic front, 2024 was challenging for local businesses, especially restaurants. Analysts expressed optimism for recovery beginning in 2025 due to anticipated spending boosts from upcoming multi-entry visa schemes for mainland Chinese tourists. Brandy Ho Hon-ming from Midland Property noted the lower rents but foresaw rising costs for other sectors, including food and labor, affecting profit margins for eateries.
Covid-19 tightened its grip once again, creating closures, as Dragon Palace, after 60 years, and Itacho Sushi, leaving locals nostalgic but aware of the market's volatility.
Jewelry sales during the festive season similarly reflected consumer hesitance. Though foot traffic increased by 10%, the total expenditure fell short compared to previous years, partly due to rising gold prices and overall cautious consumer sentiment. Nonetheless, optimism persisted as foot traffic might increase again heading toward the Lunar New Year, which often propels spending.
Another promising economic indicator lay within Hong Kong’s Mandatory Provident Fund (MPF), which reported gains hitting HK$102.8 billion for the year. This substantial growth was attributed to strong performances by various fund categories, with U.S. stock allocations leading the recovery.
Notable international events also captured local interest. The recent U.S. presidential campaign, focusing on key figures like Donald Trump and Kamala Harris, grabbed attention beyond borders, likely influencing many Hongkongers' views on politics and its intersection with local society.
Meanwhile, the return of global stars amplified cultural excitement. Concerts by Coldplay, announced for April, signify hope for Hong Kong's musical and entertainment revival as other regions undergo similar post-pandemic attractions.
Overall, 2024 encapsulated both the vibrancy and struggles of Hong Kong as it attempts to regain its footing on the global stage. With upcoming opportunities and challenges, residents remain vigilant for how this dynamics shift may shape their beloved city’s narrative.
