Home > screeNZ News > Hong Kong: film and TV worth $33 billion to local economy

Hong Kong: film and TV worth $33 billion to local economy

The Hong Kong film and television industry contributed HK$33 billion (NZ$6.3 billion) to the local economy and created more than 32,000 jobs in 2008, according to a report commissioned by the International Federation Against Copyright Theft – Greater China (IFACT-GC), which represents the Motion Picture Association (MPA) in the territory.

Launched at the Hong Kong International Film & TV Market (FILMART) 2010, the report on The Economic Contribution of the Hong Kong Film and Television Industry is the first of its kind to comprehensively measure the direct, indirect and induced economic impacts made by one of the major creative industries – the film and television industry – in Hong Kong.

In addition to HK$33 billion in gross output, the industry also generated a total of HK$6 billion (NZ$1 billion) value-add to Hong Kong’s economy in 2008.

The findings highlight the role of the Hong Kong film and television industry as an economic driver,” said Mike Ellis, Motion Picture Association’s President & Managing Director of the Asia-Pacific Region. Hong Kongers have always taken pride in the industry and the report suggests that there are good economic reasons for doing so.”

The study, conducted by Artisan Gateway, revealed that the Hong Kong film and television industry comprised 1,170 businesses in 2008. The report also confirms the leading role of the Hong Kong film and television industry in the region – with the highest per capita film and TV production in Asia – as well as acknowledges the growing importance of China as the largest distribution market for Hong Kong-made film and television productions.

The report provides useful quantitative figures for us to evaluate the contribution of the film and television industry and an opportunity to look beyond to see what should be done to facilitate the further development of the industry,” said Sam Ho, Executive Director and General Manager, IFACT-GC.

On the same occasion, the veterans of the industry took the opportunity of a panel session to discuss on how to effectively protect the industry by means of the proposed Graduated Response System. The system aims to combat illegal online file sharing by an escalating series of educational notices and sanctions against identified repeat infringers.

We have always known that our industry’s contribution was not insignificant, and now this landmark report proves it,” said Brian Chung, Chief Executive, Motion Picture Industry Association Limited. That’s even more reason why we should all very concerned about the increasing ease of illegal online downloading and file sharing. There is definitely a pressing need to step up the online copyright to safeguard the future of the industry.”

We have confirmation now that our work and our industry is simply too important to Hong Kong’s economy to let illegal online downloading ruin it,” echoed Nansun Shi, Executive Director of Film Workshop Co. Limited.

You may also like
Filmart opens 21st edition
HKFA closes Expo with winners
The Hong Kong Collection 2015
Hong Kong Film Awards 2014: Ip Man still packs a punch