Sports investment brings its own rewards as Hong Kong celebrates its best Olympics

Billions in government and corporate funding have been poured into sports through the Hong Kong Sports Institute, Kai Tak Sports Park project and more
The best return on that investment? Hongkongers setting differences aside to cheer on our athletes in Tokyo

Bernard Chan

Published: 6:45am, 13 Aug 2021

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Hong Kong has just witnessed its most successful Olympics outing ever at Tokyo 2020. Remarkably, we won double our entire previous medal tally while racking up a wealth of firsts.

These include: first gold since the 1997 handover; first medal in fencing; first time an athlete had won two medals in the same Olympics; first medal in karate; and, first time an athlete had won medals in separate Olympics.

Although there is a natural fixation on the medal count and winning at any sporting event, I would like to focus on the story behind our Olympians.

Each of Hong Kong’s 46 Olympians is an outstanding athlete with natural talent nurtured by people and institutions. No Olympic athlete achieves the dream alone.

Qualifying for the Olympics would not have been possible without years of personal sacrifice and family support, dedicated coaches, physiotherapists, sports nutritionists and support staff, and institutional support and funding.

The Hong Kong government has given considerable land, funding and development support to sports in general and to elite sports.

Hong Kong Sports Institute is built on 41 acres of land – about the size of the Happy Valley racecourse – and was jointly financed by the government and the Hong Kong Jockey Club. The government also built the velodrome in Tseung Kwan O and is developing the 69-acre Kai Tak Sports Park, expected to open in 2023.

To identify, nurture and advance sports talent, the government established the world-class Hong Kong Sports Institute Limited (HKSI) in 2004, funding it through the Elite Athletes Development Fund. About HK$13 billion (US$1.67 billion) has been injected into the fund since 2012, and HKSI’s annual government funding is around HK$700 million.

HKSI currently trains around 1,300 elite athletes in 20 Tier A sports and 13 Tier B sports, including parasports, for those with disabilities. Typical of Hong Kong’s practicality, the government prioritises sports by outcome, with “results capable” sports receiving the most funding support, hence the tiered categories.

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Investing in elite athletes’ journey from cultivation to retirement, HKSI provides holistic resources so athletes can focus on their chosen sport without worrying about finances.

Support ranges from direct financial grants and training programmes, to international-standard professional coaching and sports science services, to education, career and retirement support.

For context, it usually takes eight to 12 years of full-time systematic training to nurture a world champion from junior to elite to world-class athlete.

Financial support for athletes encompasses education scholarships, accommodation for full-timers, Elite Training Grants, retirement grants to aid transition to another career, and incentive awards for major games. Basically, an athlete’s major costs are covered from making the grade to retiring as an elite athlete.

Hong Kong’s sports development schemes are quite businesslike and results-oriented. For example, HKSI’s Elite Training Grant is tied to performance. Athletes are awarded higher monthly training stipends for higher placements in international games, with Olympic and world champions earning more than Asian Games champions.

Incentive awards for winning Olympic medals are tied to the colour of the medal. This year’s incentive awards were sponsored by Henderson Land and presented gold medal winners with HK$5 million, silvers with HK$2.5 million and bronzes with HK$1.25 million.

Should Hong Kong pour more money into chasing Olympic medals?

The Jockey Club has been a tremendous champion of sports, contributing billions over the years to both elite sports and sports for all.

Other corporate donors such as Cathay Pacific, HSBC and Standard Chartered Bank, to name a few, pitch in to sponsor major sporting events, which in turn support the development of local athletes by giving them exposure to international competition.

Would higher levels of private enterprise sponsorship help to boost elite sports development and elevate Hong Kong’s already stellar record in international sports? Obviously.

A potential point of reference is the US Olympic and Paralympic Committee and its national sports organisations, which generally receive no federal funding and are instead financed by individual donors and corporate sponsors.

What better return on investment for government and corporate sponsors than to bring all Hongkongers together? These past few weeks, we have set aside our differences and cheered as one, side by side, for our Olympic athletes.

Tantamount to supporting the spirit of Hong Kong, doesn’t this make a case for further investment in our athletes and sporting development?

Bernard Chan is convenor of Hong Kong’s Executive Council