Hong Kong Airport Construction

Opportunities for U.S. airlines and related industries will increase with addition of Third Runway and infrastructure development.

Hong Kong is strengthening its position as global aviation and tourist hub with the upcoming launch of its new three-runway system in November 2024. This expansion is a significant opportunity for investors in the tourism and aviation sectors, as it promises to increase the city’s airport capacity by 50%, allowing it to handle up to 120 million passengers and 10 million tonnes of cargo annually.

The US$18 billion upgrade project includes not only a third runway but also a second terminal, new concourses, and a series of development projects aimed at enhancing the airport’s global connectivity.

This is in line with the Chinese Central Government’s vision to integrate Hong Kong with the Greater Bay Area’s economic framework, as this expansion is intended to attract new airlines, new routes, and passengers globally.  

The Hong Kong Airport Authority is looking for partnerships with airlines to promote new direct routes, particularly long-haul destinations to Europe and the U.S. Additionally, the statutory body is looking to incentivize new partners with subsidies when launching new routes in order to expand service, which will further boost the airport’s growth.

The new Airport City is set to become a major landmark, as the development will see the creation of an integrated leisure, retail, and entertainment complex. New hotels, office towers, and cultural venues will also be built.

With this new level of connectivity, tourists will be able to enjoy rapid transfers to other cities in south China and Macau, known as the Greater Bay Area. U.S. airlines that are looking at to explore growth opportunities can contact Commercial Specialist for Travel & Tourism Natalie Tong to discuss market entry strategies.