What the Rugby Sevens Says About Hong Kong’s Financial Fate

For a weekend every spring, the streets of downtown Hong Kong would turn into a raucous party. The occasion? The city’s iconic Rugby Sevens tournament. Rugby’s seven-a-side format is a dazzlingly fast, shorter form of the game—emphasizing speed, risk-taking, and agility over brawn. The Hong Kong meet was considered the number one fixture in the global sevens calendar, attracting two dozen international teams.

But few would deny that the event was just as well known for the carnival-like atmosphere that surrounded it. In the bleachers, spectators vied with each other in the lavishness and hilarity of their fancy dress. In the Hong Kong Stadium’s infamous South Stand, the party atmosphere and level of beer consumption was legendary. Tourists, relatives visiting their Hong Kong-based loved ones, and business travelers would time their Hong Kong trips with the tournament. And once the action on the field was done, thousands of fans would flood the streets of the city’s Wanchai red-light district, or the Lan Kwai Fong nightlife quarter, looking for their next drink. Little wonder that “See you at the Sevens” became a Hong Kong catchphrase.

But that was all in pre-COVID times. The tournament, which was called off in 2020 and 2021 due to COVID-19, will make a strictly regulated return to Hong Kong from Nov. 4-6. Some see the resumption as an important back-to-business moment for Hong Kong, where tough pandemic restrictions have seen many large events canceled and the city’s reputation as a global financial center badly dented. Others wonder if the city is doing enough to open up.

Read More: Hong Kong May Not Be Ready for Another COVID Surge

The Rugby Sevens and big business are synonymous. Some of the city’s largest and oldest firms are among the sponsors and invitations to corporate boxes and hospitality suites are highly coveted. Pre-COVID, banks would often hold client parties and meetings to coincide with the Sevens, which might be attended by executives from New York, Frankfurt or London. This year, Hong Kong’s central bank is doing the same thing: hosting a conference that will coincide with the tournament, hoping will attract global banking bigwigs and signal the city’s revival.

“I genuinely think that people see this as a really important watershed,” says Robbie McRobbie, the CEO of the Hong Kong Rugby Union (HKRU), which organizes the event. “People want to show their support and demonstrate that Hong Kong is resilient and still here and we all collectively want to get the show back on the road.”

But not everyone in the city is as optimistic. The Sevens will take place under an array of unfamiliar pandemic restrictions, and it isn’t clear how many international visitors will be willing to make the journey if the event is drained of its fiesta-like atmosphere. The government has also not offered a clear timeline or roadmap for moving on from the city’s “dynamic zero-COVID” strategy, which has left the city effectively cut off from the rest of…