Recently, the entire city has been welcomed with some exciting news—the female panda Ying Ying’s giving birth to a female and a male cub. Additionally, our motherland China gifted us with another two pandas to celebrate the 75th national day. Hong Kong has the number of pandas tripled in two months. To celebrate this, Hong Kong government introduced the “Big Panda Economy”. Long story short, the term is to boost the city’s economy by attracting visitors to admire the new members in captivity. Is this kind of economy really sustainable?
Obviously, in the short term, promoting a panda economy in Hong Kong can lead to a significant boost in tourism, which benefits local businesses and the broader economy at last. Pandas are universally recognized as charismatic megafauna and can attract both domestic and international tourists. According to China’s statistics, “Big Panda Economy” can attract 260 thousand tourists per annum and lead to an increase of revenue 15 billion. In short, tourists will be triggered to visit Hong Kong to see pandas which they might not have in their country. As a result, they spend in Hong Kong and boost the economy.
Additionally, the presence of pandas in Hong Kong can significantly boost the economy through panda event hosting, and generate additional revenue. As mentioned, pandas are charismatic and beloved creatures. They have a nature of attracting public attention. They are perfectly suitable to be made ideal focal points for various exhibitions or festivals. A good demonstration is The Chengdu Research Base of Giant Panda Breeding hosting an annual “Panda Festival” which features educational and cultural performances. The pandas could even interact with visitors. This event attracts thousands of visitors, thus generating substantial revenue for the local economy. In conclusion, the hosting of panda-centered events not only capitalizes on the initial interest generated by these pandas, but also creates opportunities for a boost in the economy.
It is crystal clear that the big panda economy is sustainable in the short term. Nonetheless, we need to consider some long term factors when speaking of sustainability of this type of economy.
The most prominent long term factor is ethical concerns surrounding captivity. If we focus too much on big pandas, citizens would perceive the intention for keeping pandas is for commercial gain. Imagine a scenario where a major zoo’s pandas show signs of stress due to inadequate living conditions, prompting animal rights activists to launch a campaign against the facility. This could tarnish the zoo’s reputation and diminish support for broader conservation initiatives, due to the public growing skeptical of organizations that prioritize profit over animal welfare. Furthermore, if visitors believe the primary motive behind panda exhibits is commercial gain rather than genuine conservation, they may withdraw their attention towards big pandas, leading to a decreased funding for vital research and habitat preservation efforts. Ultimately, addressing these ethical dilemmas is crucial to maintaining public confidence and ensuring that both pandas and other endangered species receive the compassionate care they need.
Furthermore, many tourists may come to see pandas out of curiosity, but once they have seen them, the likelihood of returning specifically for the same attraction diminishes. While many tourists may initially flock to Hong Kong to see pandas out of curiosity, the long-term impact of relying heavily on a single species for tourism can be detrimental to the economy. For instance, according to a study by the World Travel and Tourism Council, destinations with a variety of attractions tend to see repeat visitors at rates of 60% or higher compared to only 30% for those focused on a single feature. If Hong Kong’s tourism centers primarily around pandas, it would risk alienating potential repeat visitors who may seek varied experiences. Moreover, the economic benefits derived from panda tourism may not be sufficient to support long-term growth if the local economy does not diversify its offerings.
In a nutshell, promoting the “Big Panda Economy” does have some benefits to the economy in the short term by stimulating tourism in ways of attracting them to explore rare creatures and using pandas as a theme to hold international events. On the other hand, “Big Panda Economy” seems to be less beneficial to the economy when considering long term. Therefore, Hong Kong government will consider a balance between conservation and economy. On the other hand, the government should not rely too much on “Big Panda Economy”. Hopefully, the government outweighs these factors before taking further action.
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Author : Ching Ryann
News Commentary Competition – The 1st Runner Up of Senior Form