8 in 10 professionals bullish on Hong Kong economic growth

Half believe that growth is buoyed by Mainland China’s economy.

Eight in 10 (86%) business professionals have expressed confidence that Hong Kong’s GDP will increase and sustain its momentum by 2018, according to an economic sentiment survey by CPA Australia.

Three in 10 (38%) believe that the projected economic expansion is likely to be moderate at 2-2.9% while two in 10 (21%) believe that it will increase by 1-1.9% and 3-3.9%.

Only 3% believed that the Hong Kong economy can make great leaps next year by posting a 4% and above GDP increase.

Half (50%) attribute the projected economic trajectory to growth in Mainland China’s economy whilst 33% believe infrastructure projects such as the Hong Kong-Zhuhai-Macao Bridge and Western Kowloon Cultural District could put Hong Kong economy on the right track.

On the other hand, almost half (49%) believe that the local political environment is a negative factor that has the biggest potential to slow down economic growth.

Three in 10 believe that exorbitant prices in the property scene can deal the largest blow to the economy with 35% fearing against high property costs and 34% against high office rental.

“Business experts expect Hong Kong will maintain its position as one of the world’s most competitive markets in which to do business according to our survey results,” said CPA Australia Divisional President Mr Ivan Au.