Vetted events in Hong Kong can receive up to HK$15 million in government funding. Photo Credit: Adobe Stock/alan
The Hong Kong government has announced changes to improve the quality and economic impact of major sporting events held in the destination and to enhance their appeal.
The government has updated its "M" Mark System, first introduced in 2004, which aims to encourage and help local National Sports Associations and private or non-government organisations to organise more major international sports events.
Kicking in on 16 September, the new measures include changes to vetting criteria and funding. In a statement, the government said vetting criteria will be refined to better reflect the importance of sports development contribution for ‘major sports events’; and the importance of tourism promotion and local economy impact for ‘exhibition matches/tournaments'. ‘Major sports events’ that have significant benefits on tourism promotion and the local economy, depending on the circumstances, may also apply as ‘exhibition matches/tournaments’.
Funding for approved events will range from HK$6 million (US$769,014) to HK$15 million, and will depend on the vetting outcome, so not every approved application will receive the maximum funding of HK$15 million.
To encourage organisers to gradually increase the amount of private sponsorship sought, the direct grants for new ‘major sports events’ will be provided on a sliding scale from the maximum amounts of HK$6 million (first year), HK$5 million (second year) to HK$4 million (third year) so as to promote the development of sports as an industry.
The government added that there will be a fixed application cycle for accepting and processing applications for ‘exhibition matches/tournaments’.
It said: “Applications received within the same application cycle (i.e. six months) will be processed and considered together based on their merits (such as the attractiveness of participating athletes/teams and economic benefits). Under normal circumstances, a maximum of three ‘exhibition matches/tournaments’ will be accepted in the same cycle to avoid multiple events organised in the same period and thereby reducing their economic viability and benefits.”
Applicants must submit their applications at least six months prior to the hosting or announcement of the event.