Hong Kong's eight-day football festival could generate as much as HK$428 million in economic benefits, with gains expected across the retail, hospitality, and transport sectors, the South China Morning Post reported Sunday.

The Hong Kong Football Festival, which began Thursday, features four top European clubs - Liverpool, AC Milan, Arsenal, and Tottenham Hotspur - playing at the newly opened Kai Tak Stadium.

Event organiser TEG Sport said over 35,000 fans attended open training sessions for Liverpool and AC Milan, while Saturday's match between the two teams drew a record crowd of 49,704 for a live football event in the city, according to SCMP.

The event has also attracted major sponsors and commercial tie-ups, including an MTR Corporation (HKG:0066) pop-up Liverpool store at East Tsim Sha Tsui station, which helped boost foot traffic and nearby retail activity, the report added.

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