ENG-1970 — Page 37

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REVIEW

at the rate of 10 per cent annually. An international survey under- taken during the year by a leading regional bank indicated that income figures in Hong Kong were rising faster than elsewhere in Asia, and that this growth was built on exports which were going to increasingly sophisticated markets. Hong Kong did not, of course, escape a degree of inflationary pressure. Domestic prices rose during the year but the rises were out-stripped by the growth in incomes.

The impressive story of Hong Kong's development and progress was displayed, for the first time in an international exposition, at Expo '70 at Osaka where the imaginative Hong Kong pavilion, with its distinctive junk sails, attracted considerable interest.

On April 5 HRH the Prince of Wales stopped briefly in the Colony while on route to the exposition. On December 4 His Holiness the Pope spent three hours in the Colony in the course of a pastoral visit.

These visits were all too brief. But there were many other distinguished visitors during the year, some of whom were able to stay for a longer time and to enjoy the many attractions that the Colony has to offer. For most visitors, shopping continued to be the main or sometimes the only aim. During 1970 almost a million people passed through the Colony; and it is estimated that between them they spent $2,000 million during their stay. Tourism has become a major Hong Kong industry and to cater for the increasing influx of visitors 3,500 new hotel rooms are being provided both by the expansion of existing hotel accommodation and in 13 new hotels under construction. In addition several further schemes have been submitted to the Building Authority.

The increase in tourism as well as the growing sophistication and prosperity of the Hong Kong community have however exacerbated the problems of transport. The number of vehicles of all kinds has reached the stage where there are 235 vehicles for each mile of roadway and there is increasing traffic congestion and difficulty in parking.

The solution proposed by the Mass Transit Further Studies Final Report, which was presented in August, was the construction of an underground rail system, with 47 stations and with routes on Hong