Financial intermediation, real estate and business activities contributed 30.6% to the gross value added (GVA) in 2019, followed by wholesale, retail and hotels (25.4%) and transport, storage and communication (9.3%). In nominal terms, the three sectors are expected to shrink by -3.1%, -4.27% and -5.5%, respectively, in 2020.
The overall Hang Seng Index exhibited a downward trend over the past year. As of August 24, 2020, the Hang Seng index stood at 25,551.58 compared to 26,179.33 on August, 2019.
The major regions of Hong Kong are Hong Kong Island and Kowloon, where most of the economic activity and population is concentrated.
- Hong Kong’s government is expected to invest HK$1tn (US$127.6bn) over 2019-2028 to boost the city’s competitiveness.
- As per the World Bank’s Logistics Performance Index (LPI), transport and logistic infrastructure in Hong Kong has declined over the last two years, with a fall in rank from ninth in 2016 to 12th out of 160 countries in 2018.
Reasons To Buy
- Macroeconomic Outlook Report identifies the potentials of the country as an investment destination by analyzing the political, economic, social, technological, legal and environmental (PESTLE) structure.
- PESTLE Insights provides 360 degree view of the economy which can be used as a strategic tool to understand the market dynamics, business potentials and direction of operations
- Along with providing the country’s snapshot, the report captures the risk factors pertaining to the macroeconomic risks, political environment, legal environment, demographic and social structure effectiveness, technology & infrastructure and natural and geographic aspects that might impact business.
- This report also highlights key clusters/cities which contribute significantly to the country GDP and population along with major companies’ presence in these areas.