The city’s six pandas are front and center in the government’s latest effort to boost its lackluster tourism industry and revive an economy that’s struggling to regain momentum.

This weekend’s public debut of twin six-month-old cubs at Ocean Park will serve as a litmus test, with hopes the bears will spark a viral moment similar to Moo Deng, the pygmy hippo in Thailand who took social media by storm last year and saw a flood of tourists visit her zoo.

The yet-to-be-named cubs are a “game changer” for Ocean Park, which has already seen a boost to visitation, said Paulo Pong, chairman of the theme park where the city’s pandas reside. “We’re hitting the pre-pandemic numbers again. So it’s quite an encouraging sign that people are coming back to the park in full force.”

But the challenge will be converting a short-term lift into a sustained boost to tourism. Hong Kong’s visitor numbers remain well below pre-COVID highs after large-scale protests in 2019, strict pandemic measures and the imposition of a national security law dented the city’s appeal for international travelers. Meanwhile, economic malaise is hurting spending by tourists from mainland China, who make up the majority of visitors to the financial hub.

“The pandas will provide a temporary boost,” said Carlos Casanova, senior Asia economist at Union Bancaire Privee. “I don’t think that’s going to turn around the tourism story in Hong Kong. And I don’t think tourism alone, in the absence of a broader sort of strategy, is going to turn around the economy.”

About 45 million people visited Hong Kong last year, just shy of officials’ projection for 46 million, according to tourism board data. While that’s up 31% from 2023, it’s well down from the record 65 million visitors in 2018.

Hong Kong wants tourism to play a greater role in its economy: the government estimates its strategy will see the industry generate HK$120 billion ($15.4 billion) in 2029, up from HK$75.3 billion in 2023. 

But efforts to entice visitors, ranging from free plane tickets to turning the city into a mega-events hub and even a plea for residents to smile more, have largely fizzled. 

Retail sales fell for a 10th straight month in December. The same month, Hong Kong leader John Lee unexpectedly sacked his tourism chief, saying he needed ministers who “will be able to deliver what I have in mind.”

That’s piling pressure on Hong Kong’s six pandas, the biggest population outside of mainland China. 

Ying Ying and Le Le were gifted to the city by Beijing in 2007 and, after more than a decade of mating attempts, Ying Ying gave birth to twins in August. 

At almost 19 years old—about 57 in human years—she became the world’s oldest first-time panda mother. Her cubs, the first to be born in the city, are currently referred to as “Elder Sister” and “Younger Brother”. 

Ocean Park also welcomed five year-old female Ke Ke and her male mate, An An, gifts from the Chinese central government, last year. Their public debut in December drew big crowds, which the park’s operators anticipate will be repeated with the new cubs this weekend. 

The 48 year-old theme park is Hong Kong’s largest, but despite reporting the most visitors in five years, it posted a HK$71.6 million deficit for the year ended June 30.

The pandas have been immortalized as animated characters and Ocean Park’s Pong says the theme park could capitalize on the intellectual property by turning them into cartoon, movies and comic books. “Having this IP will help the park generate revenue and steady income in the long run,” he said. 

So far, the pandas are proving good for business. There was a 20% increase in bookings for Ocean Park on Trip.com following the Jan. 21 announcement of the panda cubs’ public debut, according to Eddy Yip, the territory manager for Hong Kong at the booking platform. International visitors account for 75% of the bookings, though reservations from locals increased 60%, he said. 

Typically, more than half of Ocean Park’s guests are local and most international visitors come from mainland China. But the park has seen a growing number of visitors from Southeast Asia and India who are willing to pay more for premium experiences, according to Pong. Ocean Park has already received requests for private sessions to see the pandas and is planning further premium offerings to cope with the demand, he said.

Pandas are found in southwestern China and according to the World Wildlife Fund, there are only just over 1,800 left in the wild. The animal is considered a national treasure but has a decades-long history of being used as a diplomatic tool.

While Hong Kong received its pandas as gifts, other cities have spent big bucks to have the highly watchable black and white bears. Washington, DC’s National Zoo, for instance, pays $1 million a year to the China Wildlife Conservation Association for a pair of bears.

Keeping them is an expensive exercise, too. In November, a zoo in Finland returned their panda duo, eight years earlier than planned, after annual costs hit €1.5 million ($1.5 million)