LCQ7: Promoting the development of the "nostalgia economy"

Following is a question by Dr the Hon Johnny Ng and a written reply by the Secretary for Culture, Sports and Tourism, Miss Rosanna Law, in the Legislative Council today (October 7): Question: There are views pointing out that as young people have become increasingly keen to pay for emotional value and cultural identity, the "nostalgia economy" that transforms nostalgia for the good old days into spending power has emerged globally, with products such as film cameras and Beyblades regaining popularity. There are views that while Hong Kong possesses rich cultural assets and collective memories capable of providing consumers with exceptionally high emotional value, relevant industries are at present mostly operated by the private sector in a fragmented manner without long-term policy guidance and industrial chain integration. In this connection, will the Government inform this Council: (1) whether the Government has compiled statistics on the revenue contributed by the "nostalgia economy" to the Gross Domestic Product over the past three years, and whether it has assessed the actual economic benefits that the "nostalgia economy" can bring to Hong Kong in the next three years; (2) as t

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