A source familiar with the situation pointed out that the process was too “rushed” for a global pitch. “Financially it is also not viable,” added the source. While a HKTB spokeperson has confirmed that the overall marketing budget stands at HK$331 million (US$42 million) for this year, it is thought that the above-the-line advertising component is just HK$42 million.
“The budget was close to double this at the last agency pitch,” added another source.
