Hong Kong's HarbourFest, the only highly visible part of the Government's HK$1 billion (US$129 million) "rescue package", has become a dismal controversy - seen as a consummate failure, and riddled with charges of inept marketing, nepotism and surprising financial management. HarbourFest was the right idea at the wrong time.
It was ill-conceived as a marketing initiative, it cost taxpayers far too much, and never had the potential to achieve its objectives.
The reality is that InvestHK, the Government's business promotion agency in charge of that rescue fund, and the American Chamber of Commerce, who teamed up to stage the event, ignored professional advice from every quarter.
Foresight would have worked better. In April this year, when the rescue fund was announced, we wrote an outline strategy and recommendations and sent it by email to more than 100 of Hong Kong's most influential Government officials and the media (Media, May 16, 2003). In that proposal, we were adamant that the lion's share of the money should remain in Hong Kong and be used to support the promotional efforts of Hong Kong businesses through subsidising extra nights for visitors and discounts on dining.
They would have spent more on their free extra day. We did suggest inviting the Rolling Stones, Santana, and other groups to reinstate their March concerts. Little did we imagine that the Hong Kong taxpayers would be paying for it.
Why did InvestHK not call a meeting of all promoters and ask how the Government could help? Perhaps they could have waived fees on venues like the Hong Kong Stadium. Perhaps they could have offered the Tamar Site where the concerts have been running, for free, and offered to erect the stage at Government cost. Promoters would have been encouraged to keep ticket prices low, assuring success.
As we go to press, we Hong Kong taxpayers remain ignorant of where our other $900 million in rescue money has gone. Probably overseas?
Yes, hindsight is worthless, but how disappointing to see foresight being so roundly ignored.
One would have thought that the job for director-general of InvestHK should include the following skills:
- A communications marketing expert, with a long-term track record of marketing achievements in the wider business community.
- A person with the skills to formulate brilliant, incisive strategies with which to promote Hong Kong business and investment.
- A person with integrity and people skills that will engender respect and admiration.
- Belief in a level playing field and in achieving excellence would be a distinct advantage.