A three-year strategy to develop and commercialize tourism products with cultural and heritage components would be funded with HK$600 million.

Paul Chan, the Financial Secretary, has set aside HK$1.26 billion to help the country's devastated tourism industry, citing the need to improve the business and prepare for a possible border reopening soon.

"We will get well prepared in light of fierce regional competition by providing additional resources for the promotion of cultural, heritage, and green tourism projects with Hong Kong characteristics, enhancing tourism promotion and rolling out enticing promotional offers promptly to attract tourists from outside Hong Kong," he said while delivering his latest budget on Wednesday.

"This will also help Hong Kong solidify its position as a multi-destination tourism demonstration zone and an international tourism center."

Chan stated that HK$600 million will be set aside for a three-year strategy to develop and commercialize cultural and heritage tourism items.

Another HK$60 million will be used to fund tourism practitioner training, with the remaining HK$600 million going to the Hong Kong Tourism Board to help revitalize the business and expand travel within the Greater Bay Area.

Separately, the finance secretary announced that the government will set aside HK$42 million in the next two years to organize Hong Kong's first-ever Performing Arts Market, which will feature top-tier performers and arts groups from around the world.

"Under the Leisure and Cultural Services Department, HK$70 million will be set aside for renovating performing facilities.