All the incentives come from local businesses, with the total value now exceeding $15 million.

"The value of various lotteries or reward programs, we have learned from news reports, has exceeded HK$120 million," Hong Kong's chief executive Carrie Lam said at a weekly briefing.

Some of the more high-end prizes are gold bars, being given away by billionaire Lee Shau Kee's Henderson Land Development, and Tesla Model 3, which is one of the lottery prizes from Australia's Goodman Group.

"We believe vaccinations are an important measure that will save lives and improve the COVID-19 pandemic situation around the world and here in Hong Kong. We are grateful to be able to join others in taking the lead and further supporting the Government's vaccination program. We hope the lottery will encourage eligible citizens in Hong Kong to get vaccinated as soon as possible," Paul McGarry, head of Asia, Goodman Group, said in a statement.

Other prizes include a $1.4 million apartment, iPhones, cash, shopping vouchers, and even paid time off.

Hong Kong has seen a low vaccination rate despite being one of the few places where a vaccine is available to all adults. According to Bloomberg's COVID-19 Vaccine Tracker, Hong Kong has 15.1% of its 7.5 million people fully vaccinated, which is behind other financial hubs like London.

The local government now seems to be relying on businesses to help drive the vaccination numbers and these lotteries seem to be doing the trick, according to local media reports.