Even though it failed in a previous attempt to host the Asian Games, it is widely believed that Hong Kong will submit a bid to host the event in 2023.
Hong Kong bid on the 2006 Games, but lost out to Doha. However, they recently successfully hosted equestrian events as part of the 2008 Summer Olympics and were the sole host of the 2009 East Asian Games , even besting Japan to win a gold medal in soccer. The momentum created by the event has encouraged the government to believe they can succeed in this new bid.
While the bid has many supporters who would love to see the local economy benefit, there are others who believe the bid would end up costing the government. While construction, restaurants, shops and the Hong Kong Hotel industries would likely profit from the influx of athletes, officials, and spectators, current estimates project the event will cost the government HK$13.8 billion, or $1.78 billion US. This contrasts the cost of the East Asian Games, which was a mere $300 million.
Officials insist that building eight new sports venues is an investment in the future of the region. Likewise, the event is projected to generate not only tourist income, but to create jobs. Most importantly it would stimulate the public’s imagination for sports and bring residents together. The main concern is that Hong Kong is very crowded , with a dense population and some of the world’s most expensive real estate. Building facilities that could house delegations from over 45 countries will take space, which Hong Kong may not have.
Formal bids are due by the end of 2010. The host country is scheduled to be announced in the spring of 2011.
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