With booming financial markets, Hong Kong is the world’s third-largest financial centre – and Asia’s third largest. It’s a major service economy, with strong links to Mainland China and the rest of Asia-Pacific, and currency pegged to the U.S. dollar. The territory has been the ‘China entry strategy’ for many global retailers looking to reach the Far East. Hong Kong’s financial strength is matched by a high degree of consumer confidence, driven by low unemployment and ample disposable income. Consequently, Hong Kong’s people, who speak the official languages of English and Cantonese, are frequent travellers and savvy shoppers.
With influences from Europe and the U.S., Hong Kongers have developed a strong affinity for luxury and fashion. And Hong Kong joins Singapore and Shanghai as a trendsetting retail destination in its own right, welcoming shopping tourists with open arms. Newly wealthy Chinese come in droves to spend money at the malls and micro malls marking Hong Kong Island, from Central to the Causeway Bay sections.
Find out more about China’s “window on the West” – and the opportunity this market offers to online retailers from Borderfree’s Hong Kong Country Report.
Access the full report here http://www.borderfree.com/global-insights/hong-kong-ecommerce-report-2014