Search

NEWS
ECONOMY | Staff Reporter, Hong Kong
Published: 24 Feb 12
750 views


Despite out-of-this-world rents, Hong Kong is businesses’ capital city

We talk of Hong Kong’s sky high rents and property prices as if they were investment killers. Surprisingly, a recent global survey shows that’s really not the case.

A new survey from global workspace provider Regus reveals the cost of office or rental space ranked only number five in the top five criteria business firms consider when setting-up an office in another country. Score one for Hong Kong.

The top three criteria that lure business to a foreign city like Hong Kong or to another country are ease of doing business; economic stability and a liberal government regulatory framework. The fourth top quality is political stability.

Score more points for Hong Kong, which has all these top four qualities in abundance.

Hong Kong has consistently been ranked an extremely business-friendly city. This was recognised this January when the city was rated Number One out of 179 economies in the 2012 Index of Economic Freedom.

Hong Kong has led the rankings every year since the Index was first published in 1995. It scored 89.9 out of a maximum score of 100 this year, with the world average at 59.5.

"Hong Kong has always been an attractive market for businesses, both home-grown and from overseas," said Andrew Davis, Associate Director-General, Invest Hong Kong.

"Hong Kong has the infrastructure, the low tax base and the talent to make it a very compelling choice. In under a week and for a very low cost, a company can be up and running, and exactly the same rules apply to local and foreign-owned companies."

A recent report from the Hong Kong Trade Development Council also underlines the Hong Kong government's commitment to helping businesses weather the financial storms of 2011-12.

The report focuses on recent government measures to increase Hong Kong's competitiveness and to support SME. These efforts include building ties with emerging and neighbouring economies and the setting-up of a HK$1 billion fund to help Hong Kong enterprises tap Mainland markets.

Regus client Daniel Yen, CEO of Digital Marketing ROI, a marketing technology company, said that in Hong Kong “. . . we are able to source the talent, technical ability, and flexibility that our company needs to accelerate its growth.

“Factor in the attractive cost-base and lack of red-tape and Hong Kong was clearly the right choice for us."

"Enterprises evaluating which markets to expand into need to anticipate the challenges of doing so," said Hans Leijten, Regus's Vice-President, East Asia. "It's vital that they do their homework and find out everything they need to know about the market they're moving into.”



Sign up for our newsletter

 

Do you know more about this story? Contact us anonymously through this link.

Click here to learn about advertising, content sponsorship, events & rountables, custom media solutions, whitepaper writing, sales leads or eDM opportunities with us.

To get a media kit and information on advertising or sponsoring click here.

Tags: Regus, Hans Leijten, Regus Vice-President, East Asia, Andrew Davis, Associate Director-General, Invest Hong Kong

LATEST ECONOMY JOBS »
  • No jobs posted on this category.
    PRINT ISSUE »

    Subscribe Now
    A journey to Lantau Island

    108 views

    Hong Kong jewellery market loses high-end lustre

    59 views

    Filling the sandwich class in Hong Kong

    49 views

    MOST READ EXCLUSIVES

    I need space: This sibling-powered startup gives solutions for an extra home space

    I need space: This sibling-powered startup gives solutions for an extra home space

    No renovation required, just your smartphone.

    by KRISANA GALLEZO
    13 Jan 2015 | 2211 views
     

    The future of innovation: What’s next after Facebook and Twitter?

    The future of innovation: What’s next after Facebook and Twitter?

    A video version of Twitter might be under way.

    by KRISANA GALLEZO
    11 Dec 2014 | 1810 views

    Here’s a startup that allows real-time booking for corporate access

    Here’s a startup that allows real-time booking for corporate access

    In just two years, it has raised a total of $US3.7m in seed and series A funding.

    by KRISANA GALLEZO
    15 Dec 2014 | 1545 views
     

    HK Government House’s former chef unveils own contemporary Chinese restaurant

    HK Government House’s former chef unveils own contemporary Chinese restaurant

    Its interior boasts of an East meets West ambience with a modern twist.

    by KRISANA GALLEZO
    16 Jan 2015 | 1302 views
    close Don't Show Again

    STAY INFORMED! Get our free weekly newsletter