Hong Kong has been in the limelight as of late – and for some in the luxury and retail industries, the positive press is overdue.

Captivating discerning shoppers from around the world, the special administrative region of less than 7.5 million residents has long been an alluring hub for retail and entertainment, a premier destination for high-end brands that wanted to establish a presence in Asia-Pacific – ideally close to mainland China.

Social unrest in 2018, followed by some of the world’s most restrictive Covid policies, delivered questions about Hong Kong’s safety and future prospects as a business centre, and prompted what has been seen by many as an exodus to nearby Singapore and other countries. 

But according to recent surveys such as a 2023 CBRE report, Hong Kong and Singapore remain “evenly matched” in the bid to attract both talent and multinational corporations’ regional headquarters in Asia Pacific.

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