Background
PORT AND AIRPORT DEVELOPMENT STRATEGY
Hong
finance,
Kong is an important centre for world and regional trade, manufacturing and tourism. To maintain its economic success in these highly international fields, it is essential that Hong Kong's port and airport are capable of
handling the high volumes of traffic which are forecast to occur in the next decades. It was in recognition of this
overriding need that the Port and Airport Development Strategy was devised. Before formulating the strategy,
overall
years of detailed study had taken place to ensure that the
strategy provided the best option in
of terms
development and was the most viable both financially and commercially.
Since the first consultancy on the replacement airport in 1973-75, there have been no less than eight consultancies on the replacement airport alone. Details are provided at Annex A.
The Need for a New Airport
2. There was no question of not having a new development strategy. Everything possible is being done to expand the existing airport, but even after completion of the $3.6 billion package of expansion works now in hand, there is a
real risk that the airport will be saturated as early as 1994 three years before the new airport at Chek Lap Kok is
scheduled to open.
It would be irresponsible to ignore this situation. Consultants estimated that if nothing were done
and the airport was
saturated between 1996 and 2010, then
-
(1989
lose business potentially worth price level) simply because
:
Hong Kong's economy would
about $131 billion
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