by Xinhua writers Liu Yinglun, Zheng Jingxia
HONG KONG, Aug. 16 (Xinhua) -- British national Greg Lowden relocated back to Hong Kong last year as regional head of communications for Asia and the Middle East at HSBC, after a two-year stint that ended in 2023. This time, he hopes to stay for good in the company's home market.
"For me, Hong Kong offers a winning combination -- great work prospects and the best outdoor running trails visible from my office," Lowden told Xinhua.
Always a super connector of global markets, Hong Kong is seeing an influx of expats and entrepreneurs from abroad seeking careers beyond finance and staying for much longer than a gap year.
Local data showed that Hong Kong granted 31,278 work visas to foreign nationals last year, more than double the figure five years ago. The number of new non-Chinese tenants rose 30 percent from a year earlier, pushing rental prices up 5 to 8 percent in popular locations, according to local real estate agencies.
SPROUTING OPPORTUNITIES
"Job opportunities have increased since the last time I was here," said Lowden. This is the result of a mix of factors, including Asia's accelerating growth and Hong Kong's sci-tech push.
"Asia is the growth center of the global economy, and the finance industry in particular," said Ben Bennett, chief investment strategist for Asia at British asset management firm Legal & General. The company, as well as foreign banks such as Standard Chartered and UBS, has plans to increase hiring in Hong Kong amid a boom in Asia-Pacific capital markets and wealth management.
For executives like Lowden, working in Hong Kong brings a major advantage of reaching almost all the markets they oversee with a direct flight. Such connectivity is one of the reasons more financial institutions are basing their Asia regional offices in Hong Kong.
Rental prices for premium Grade-A offices on Hong Kong Island rose 4.8 percent during the first five months, according to a report from real estate consultancy Knight Frank. Another real estate services firm JLL said that eight out of ten fund management companies now settle their Asia office in Hong Kong, up from two out of ten early last year.
While professionals in finance, education, events management and recruitment are starting careers here, entrepreneurs are flying in with bigger plans than simply setting up a representative office.
As a part of the Guangdong-Hong Kong-Macao Greater Bay Area, the world's leading industrial powerhouse, Hong Kong can help turn engineering concepts into manufacturable high-quality products in a relatively short time, said Harry Chen, founder of a medical technology firm.
He also listed access to capital and the Chinese mainland market, strong intellectual property protection, and a large pool of research talent as reasons for choosing Hong Kong as his company's global innovation and business hub.
LONGER STAY
Florian Lang, founder of a fintech firm who co-chairs the AI & Fintech Committee of the French Chamber of Commerce in Hong Kong, believes that more will spot opportunities and settle in Hong Kong.
"The French community here will keep growing not with expats on three-year packages, but with founders and professionals who choose to build their lives here," he said, citing increasingly frequent visits to Hong Kong by government-led delegations from southern French cities seeking business and cultural exchanges.
In a July survey by British asset management firm St. James's Place of 450 wealthy expats living in Hong Kong, 74 percent of the respondents said they plan to settle in the city for at least eight years, while 67 percent want to retire here thanks to stronger financial benefits.
Promising jobs draw people in, and the city's less visible advantages help them stay -- security, cozy outdoors, sound healthcare and education as well as low taxes.
"I run and play pickleball more than I ever did in Europe," said Lang, crediting the city's compact layout that blends dynamic business districts with easy access to nature.
Both Bennett and Lowden are excited about putting their young children through Hong Kong's education system, where they can learn Cantonese, Mandarin and English. Bennett, who welcomed a baby boy in July, said Hong Kong's public schools are "very strong" and the availability of international curricula gives students plenty of options.
Hong Kong ranks seventh in the Global Relocation Index 2026 published by Singaporean consultancy firm Rumavi, which evaluates 192 countries and regions based on factors such as financial and tax conditions, livability, safety and opportunity. ■
