Hong Kong Economy :
Hong Kong is one of the most stable, democratic, and developed economies in the world. Hong Kong is an excellent destination if you wish to live and work in another country. With Indo -Pacific, China, and India becoming the happening economies, gaining any kind of expertise or experience around them adds a lot of value to your resume and opens several opportunities. Hence, a stint in Hong Kong will add a lot of mileage to your career.
Located at a supremely favorable geographical position in the heart of the Indo-Pacific, the country of Hong Kong evolved as one of the most dynamic economies. Hong Kong is a hub for international business, trade, and finance, thanks to its natural harbor and free-market economic policy. It boasts an efficient and productive workforce that has been helping the city to grow economically. Coupled with western business methods and advanced infrastructure and technology, its highly efficient workforce has made Hong Kong a prominent economy on the world map.
A few other factors that helped Hong Kong in standing up as a rising star in the world economic scenario include the region’s political stability; its tax system, as well as business parks. Entrepreneurs from across the world are showing their interest in Asia, especially in this heartland.
This port city is better known for its prospering service industry. Manufacturing, Banking, insurance, telecommunication, information technology, and tourism are the major service industries where a majority of the population in Hong Kong is engaged. Taking special note of the tourism industry, a significant portion of the economy’s revenues is generated from it. Hong Kong received about 55.91 million visitors in the year 2018, which is almost eight times larger than the region’s population. Another industry that deserves a special mention is the entertainment industry. Hong Kong is also known as Asia’s movie capital.
Hong Kong truly stands as an Asian leader in many industries, especially finance and information technology. Factors like strong work ethic, advanced technologies, and business-oriented environment are undoubtedly making this city a prime choice in the continent for every entrepreneur to spread or set up a business. It is a dream country that offers great job opportunities for skilled professionals. For sure, this is one country where one can make his/her permanent home and an ideal place to bring up a family in!
- The world’s freest economy
- The world’s most service-oriented economy
- The world’s 2nd highest per capita holding of foreign exchange
- The world’s 2nd most competitive economy
- Asia’s 2nd most business-friendly economy
- Asia’s 2nd largest recipient of foreign direct investment
- Asia’s 2nd largest source of foreign direct investment
- Asia’s 2nd least corrupt place after Singapore.
- The world’s 11th largest exporter of services
- The world’s 11th largest trading economy
- The world’s busiest airport in terms of international cargoes
- The world’s 3rd busiest container port
- The world’s 4th busiest speed-post administration in terms of traffic volume
- The world’s 5th busiest airport in terms of international passengers
- Asia’s highest concentration of fund managers
- Asia’s largest venture capital center
- Asia’s 2nd most developed insurance market in terms of per capita insurance premium
- Asia’s 2nd largest syndication loan center
- Asia’s 3rd and the world’s 7th largest stock market
- Asia’s 3rd largest international banking center
- The world’s largest IPO market
- The world’s 6th largest foreign exchange market
Communications and Media
- The world’s first major city to have a fully digitized telephone network
- The world’s first commercial rollout of Video-on-Demand
- Asia’s busiest international telephone traffic
- Asia’s highest rate of telephone penetration
- Asia’s highest cellular mobile telephone penetration
- The world’s second-highest broadband penetration