The front page of yesterday's South China Morning Post carried a story warning that the Hong Kong government is overstating the economic benefits of its new cruise ship terminal at Kai Tak by a factor of four.
I've got some bad news. The government's over-estimate is far bigger than that.
I'm not quibbling here with my colleagues' projections for how many ships will call at the new terminal, or how much their passengers will spend when they step ashore.
But I am taking issue with how much that spending will add to Hong Kong's economy.
via Business feed http://www.scmp.com/business/article/1135430/government-overstates-cruise-terminal-benefits-25-times
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