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May 10, 2005

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WTO in Hong Kong: value for money

Every day Hong Kongers are practicising their welcoming slogan to the expected protesters for December's WTO meeting in Hong Kong: Sod off, swampy. Back in February I looked at the estimated costs and benefits of holding the December WTO meeting here. The Government estimated HK$100 million in tourism receipts against an estimated cost of HK$250 million. Not such a good return, given even Gweilofest cost only HK$100 million to stage.

However perusing Australia's Federal Budget this evening (thanks for the tax cuts, your top marginal tax rate is still only 31.5% higher than Hong Kong's) I noticed this line:

Australia's hosting of APEC 2007: Total cost A$215.3 million
The current $A/$HK exchange rate is close enough to 6:1. Australia is spending HK$1.292 billion on APEC 2007, a talkfest of declining relevence best known for its litany of silly shirts* (see below the fold). They must have some bloody good shirts lined up.

Hong Kong's getting a bargain!

* The APEC silly shirt gallery (please let me know if you find more):

Thailand
Malaysia
Chile
Mexico
Indonesia
China (very small)

Update

A small version of each set of the APEC silly shirts lineup is available at the APEC website. That's taxpayer money well spent.

 posted by Simon on 05.10.05 at 07:31 PM in the WTO category.




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Comments:

Simon, seeing as APEC will be in Australia, you just know the shirt designs will be utterly repulsive, like something Ken Done's just thrown up (remember the Sydney Olympics volunteer uniforms?)

 posted by: Fabian on 05.10.05 at 10:57 PM [permalink]

I know someone who is going to do well out of the WTO meeting. Quarterdeck Bar and Grill at Fenwick Pier. They are within the security zone. They expect to be completely booked out for the entire period.

 posted by: Phil on 05.11.05 at 01:05 AM [permalink]

Swanker: the mind boggles at the thought.

 posted by: Simon on 05.11.05 at 12:41 PM [permalink]




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