Economic Aspects of Cruise Terminal
Economics Aspects
Facts:
• Two Berths accommodating two largest vessels in the world, with displacement of 110,000 tonnes
• Estimated cost: HK$8.2 Billion • Terminal Building and first berth to be commissioned in mid 2013 • Second berth will be commissioned in 2014
Economics Aspects
Benefits: Short-term & Medium-term effects • By 2023, the followings are estimated to be created: 1. HKD 15b to 26b of accumulated economic income sources by the value-added approach Between HKD 1.4b and 2.2b are generated per annum 2. Around 5300 to 8900 employment opportunities Long-term effects • Lengthen the stay of cruise liners and tourists in Hong Kong through collaborative efforts with the travel trade in developing more diversified shore-excursion programmes. • (adding the Kai tak development surrounding facilities and how they drive the prosperity of the surrounding district) More detailed
• Strengthen the co-operation with nearby ports to enhance the regional cruise market’s potential.
Economics Aspects
Potential Challenges and negative impacts: Short-term & Medium-term effects • According to South China Morning Post investigation, government projections of the financial benefits appear to be overestimated by as much as 75%. • Because of the delay of the project, the total cost increased nearly one billion dollars compared to the original plan due to retendering and ASD government requirements. Referring to the inflation index 2009(2%) and 2010(2.7%). Long-term effects • Maintenance cost in cash flow out is estimated to be roughly 221.9 Million per year from 2013. This could be subject to change due to per-year inflation. • Increase in air pollution level contributes to the HKD 1.7b economic loss due to poor air quality each year.( where and how to get the data?) • F
• Employment • Estimation (10 seconeds) • Bring the prosperity of Kai Tak Development area and the surrounding district. 土瓜灣, 彩虹，( • Economics benefit • GDP growth (10 seconds） •
Facts:
• Two Berths accommodating two largest vessels in the world, with displacement of 110,000 tonnes
• Estimated cost: HK$8.2 Billion • Terminal Building and first berth to be commissioned in mid 2013 • Second berth will be commissioned in 2014
Economics Aspects
Benefits: Short-term & Medium-term effects • By 2023, the followings are estimated to be created: 1. HKD 15b to 26b of accumulated economic income sources by the value-added approach Between HKD 1.4b and 2.2b are generated per annum 2. Around 5300 to 8900 employment opportunities Long-term effects • Lengthen the stay of cruise liners and tourists in Hong Kong through collaborative efforts with the travel trade in developing more diversified shore-excursion programmes. • (adding the Kai tak development surrounding facilities and how they drive the prosperity of the surrounding district) More detailed
• Strengthen the co-operation with nearby ports to enhance the regional cruise market’s potential.
Economics Aspects
Potential Challenges and negative impacts: Short-term & Medium-term effects • According to South China Morning Post investigation, government projections of the financial benefits appear to be overestimated by as much as 75%. • Because of the delay of the project, the total cost increased nearly one billion dollars compared to the original plan due to retendering and ASD government requirements. Referring to the inflation index 2009(2%) and 2010(2.7%). Long-term effects • Maintenance cost in cash flow out is estimated to be roughly 221.9 Million per year from 2013. This could be subject to change due to per-year inflation. • Increase in air pollution level contributes to the HKD 1.7b economic loss due to poor air quality each year.( where and how to get the data?) • F
• Employment • Estimation (10 seconeds) • Bring the prosperity of Kai Tak Development area and the surrounding district. 土瓜灣, 彩虹，( • Economics benefit • GDP growth (10 seconds） •