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Gay Games 11 in Hong Kong sparked significant economic growth, creating jobs and boosting local income, reveals Kent State University study.
The Gay Games 11 Hong Kong 2023 (GGHK) made a remarkable economic contribution generating approximately HK$200 million (around Ksh 3.4 billion), reveals a study by Kent State University's Department of Economics.
Conducted between November 3rd and 11th, GGHK 2023 stood out not only for its inclusive spirit but also for its financial achievements.
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With 18 sports, over 500 matches and events, plus gala concerts and vibrant opening and closing ceremonies, the Games attracted some 5,600 visitors, including 2,380 participants.
The study, led by Dr. Shawn Rohlin and Dr. Nadia Greenhalgh-Stanley, detailed how GGHK spurred local income growth by an impressive HK$101.5 million, equivalent to the creation of 439 jobs.
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This boom was driven by both direct and indirect spending from non-local visitors and contributors, which amounted to HK$95 million (€11.2 million), while the GGHK organization, uniquely funded by corporate and private donations sans government aid, injected nearly HK$60 million (€7 million) into the economy.
This financial infusion benefited a wide range of local businesses, from hospitality and retail to transportation and entertainment, indicating the broad economic reach of the Games.
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The scholars' findings emphasize the substantial role that such international events play in enhancing local economies, not only through direct spending but also by boosting employment and generating new income streams.
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