Finance executives in Hong Kong are optimistic about the city’s economic growth, according to the annual American Express Global Business and Spending Outlook. The findings support the Hong Kong government’s prospects for a strong economic climate throughout the rest of the year.
While the overwhelming majority (93%) expect substantial or modest economic expansion in Hong Kong, (compared to 85% globally), many Hong Kong executives (87%) are concerned that an unanticipated event related to economic, political, social, or environment issues could have a negative impact on businesses.
When asked about business priorities, 77% of business leaders said “better meeting customer needs”. This was followed by “remaining competitive with other companies” (43%) and “improving financial returns to owners or shareholders” (43%).
“Business leaders in Hong Kong are bullish, but there is an underlying sentiment of concern. With rising living costs, ongoing debates on minimum wage, and disruptions from technology, companies should focus on people – catering to the evolving demands of customers and meeting the expectations of employees to create a better work culture where they can thrive.