Hong Kong is popularly referred to as the Pearl of the Orient given its strategic location on the ancient trade routes and its present strategic position in World Trade. Hong Kong business opportunities are several and the former city nation, now a part of China, lends itself freely to foreign trade. Though being a Special Administrative Region of China, Hong Kong has its own currency, passport, and has a unique democracy. A third of people’s representatives are directly elected, and the remaining two-thirds are elected by a special 20,000 person constituency of important citizens.
Though Hong Kong is an established business hub, getting around regulations, laws, and commercial formalities can be complicated. While there are opportunities aplenty, local knowledge is vital for success.
Hong Kong’s vital data (as of 2014)
|GDP (billion USD)||291|
|GDP per capita (USD)||40,170|
|GDP per capita PPP (USD)||55,084|
|Purchasing power per dollar, compared to the USA||137%|
|Surface area (sq km)||1,100|
|% of population living in urban areas||100%|
|% of GDP added by agriculture - industry - services||not available for 2014|
|Ease of doing business index (1 = best, 180 = lowest)||3|
What are business opportunities in Hong Kong?
Imports into Hong Kong account for about 120% of its GDP. It would be fair to say that Hong Kong imports most of what it consumes. Hong Kong provides a flexible environment for business, embracing uncertainty and promoting creative thinking.
Where the action really is - Hong Kong international business
The Top 5 imports into Hong Kong are:
- Integrated Circuits
- Broadcasting Equipment
What are Hong Kong’s important events?
The top 3 sports in Hong Kong are Dragon Boat racing, Horse Racing, and Rugby. Hong Kong competes as an independent nation in the Olympics, though it is a part of China, reflecting its own free and autonomous culture.
The pastimes in Hong Kong are truly diverse, from art to Yoga, from food to wine. People in Hong Kong are cosmopolitan by nature.
Hong Kong straddles two completely different worlds, the Communist East and the Capitalist West. Hong Kong Tourism, therefore, offers traditional attractions like Temples, monuments, and Churches to modern must sees such as theme parks, its own Disney world, and a typical skyline of skyscrapers.
Organizing regular trade fairs in exciting surroundings, Hong Kong is one of the most business-friendly territories, being ranked 3rd in the world for your ease of doing business.
Though Hong Kong can be a lucrative market for exporters, its fast paced business environment with global competitors needs local knowledge and support. Armed with the right know-how, Hong Kong can present lucrative opportunities for your long-term prosperity.