Hong Kong's West Kowloon Cultural District faces funding crisis

The West Kowloon Cultural District Authority (WKCDA), operator of Hong Kong's M+ museum and Hong Kong Palace Museum, has depleted its initial HK$21.6 billion (€2.47 billion) government grant. CEO Betty Fung warned that without a new financial plan approved by March, the district may need new loans just to stay operational. The 40-hectare cultural hub, launched in 2008, recorded over 4 million visits in 2022-2023, with M+ attracting 2.7 million and the Palace Museum 1.25 million. Ticket revenue covered nearly half of expenses, leaving WKCDA to fund exhibitions, insurance, transport, electricity, management, and salaries. The district posted a deficit of over HK$1.3 billion in 2023, down from HK$1.5 billion the previous year. Fung urged the government to approve a revenue-boosting plan submitted last year. Secretary for Culture, Sports and Tourism Kevin Yeung said authorities would continue collaborating with WKCDA. Board chairman Henry Tang warned that if no solution is reached by August, museums will reduce opening days from six to four, and opera house hours will be cut. Tang argued the district is a public policy project, not a commercial enterprise, and reduced hours could harm Hong Kong's bid to become an international cultural hub.