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Hong Kong Overview

Hong Kong is a thriving international marketplace with financial markets, port trade and a tax system. With a highly skilled labour force, it is well known for its capability where investment and trade are maximised.

Hong Kong is regarded as among the most favourable places to start a company. In fact, the number of registered start-ups in the country rose from 998 in 2014 to over 2800 in 2018. With close proximity to Shenzhen, start-ups are specialising in eCommerce, Fintech, Software and Advertising.

Although Hong Kong has had the highest degree of economic freedom, according to the Index of Economic Freedom, since 1995, it is important to consider the recently established National Security Law for any future operations in the country.

Hong Kong continues to link its currency closely to the US dollar.

Global State of the Market Report

In 2020, the Advisory Board Centre mapped professionals currently serving on Advisory Boards. This assessment identified over 4,000 professionals on Advisory Boards over Hong Kong and China and has projected a 54% growth for the sector in the region.

Hong Kong’s Advisory Board Landscape

Research has identified that the Advisory Board sector is emerging, and Advisors exist as a profession in Hong Kong. As an emerging sector, Advisory Board professionals may have opportunities in key sectors including – financial services, trading and logistics, and professional and producer services – and are encouraged to stay open-minded to start-up and emerging industries.

There is a growing opportunity for professionals to increase participation in Hong Kong, by formalising Advisory Board structures and collaborating on a global scale. As this sector grows, it is important to note that best practice credentials will shift the market from informal to formal Advisory Boards over time.

Future Growth Opportunities

With its global focus, corporatised Advisory Boards for multinationals, and project-based Advisory Boards for businesses operating within the region and those with international expansion strategies will be on the rise.

Key Statistics

Population 7.263m Labour Force by occupation
GDP  365.753bn (USD) Agriculture 3.80%
Industry 2%
GDP by sector Services 54.50%
Agriculture 0.10% Industry and Services 12.50%
Industry 7.60% Manufacturing 17.10%
Services 92.30% Agriculture/fishing/forestry/mining 10.10%
Imports 565.253bn (USD) Global ease of doing business rank 3rd (very easy)
Export 568.877bn (USD) Global ease of doing business score 85.3/100

 

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