Opportunities in HK | Traffic Explosion, Talent Influx, Energetic HK Never Stagnant

Over the years, pessimistic voices about Hong Kong never stop chanting, but what's the truth exactly? Let the facts speak for themselves.

In May 2024, according to the economic data from the HKSAR Census and Statistics Department, Hong Kong's economy has grown by 2.7% in the first quarter of this year, far exceeding expectations. Hong Kong's GDP grew by 3.3% in 2023, surpassing the average growth rate of developed economies during the same period. The steady economic recovery is primarily driven by consumption.

In the first quarter of this year, Hong Kong's private consumption grew by 1%, marking a consecutive growth for 6 quarters, and accounting for more than 70% of the overall economy.

The tourism industry is also booming. In the first 4 months of 2024, the number of visitors in Hong Kong reached 14.62 million, doubling from the previous year. The average hotel occupancy rate is around 80%, making it nearly impossible to book a room. Over 200 mega events are scheduled in the city for the year, adding another spark to the "Capital of Events." The HKSAR government expects every 1.5 million tourists to bring in 0.1% of growth to the GDP, as the flourishing tourism sector becomes a powerful booster for the economy. 

Besides, Hong Kong's foreign trade is rebounding. With demand rising in the Chinese mainland and overseas markets, Hong Kong's total import and export volume registered a 9.9% growth in the first quarter of this year.

The financial sector also remains stable. By the end of March, total deposits in Hong Kong's banking sector reached HKD 1.62 trillion, up 4.4% year on year. From January to April, Northbound Trading in the Shanghai-Hong Kong Stock Connect and Bond Connect has seen a remarkable increase in daily turnover, demonstrating the rapid development of financial interconnection between Hong Kong and the Chinese Mainland. 

The influx of enterprise and talent is another key driver of Hong Kong's economy. So far, the HKSAR government has introduced 49 leading enterprises in two batches, with a total investment exceeding HKD 40 billion, creating more than 13,000 jobs. Global financial institutions such as Morgan Stanley, HSBC, and UBS have all expressed intentions to expand their business in Hong Kong. 

Talent is also flocking to the city. By the end of April, approximately 290,000 applications have been submitted to various talent programs, with around 180,000 approved, and roughly 120,000 talents having arrived in Hong Kong, showing their confidence in the city's future.

Despite experiencing ups and downs, Hong Kong remains vibrant and resilient as it used to be, and the world will continue to witness this “Pearl of the Orient” full of possibilities and opportunities.

出品：南财国际传播中心 21新媒体中心 创意互动中心

策划统筹：于晓娜 丁青云

内容统筹：谭婷 张楠

执行统筹：黄欣然

文案：黄欣然

责任编辑：张楠

设计统筹：林军明

视频统筹：白宇航

监制：施诗

英文翻译&配音：李莹亮

海外运营监制: 黄燕淑

海外运营内容统筹: 张伟韬

运营支持：曾静娇

审校：孙静芳 黄志明