Hong Kong
Gov’t appoints 19 members to new tourism committee
Gov’t appoints 19 members to new tourism committee
The new members will serve the committee until December 2025.
HKIA sees record passenger and flight movements in December
In December, passenger volume increased 1.7 times YoY to 4.3 million.
Consumer prices rise 2.4% YoY in December
The December inflation is lower than the November record of 2.6%.
Fewer businesses feel optimistic about 1Q24
Only 13% expect their business situation to be better.
Hang Seng enables credit card customers to use loyalty points in AlipayHK
They can use their loyalty points to pay at over 150,000 outlets that accept AlipayHK payments.
Mainland Chinese tourists fuel growth in Hong Kong’s life insurance market
The industry will grow 4.1% by 2028 due to more mainland tourists and the super aging population.
Looking into the inspiring journey of Greater Bay Area’s global hub for vaccine innovation
The Greater Bay Area International Vaccine Innovation Centre offers a comprehensive innovation space that seamlessly integrates elements such as public education, knowledge exchange, academic collaborations, industry discussions, and innovation incubation.
Housing market to enter a phase of ‘relative surplus’ between 2024-2027
JLL noted that the annual average sales of new homes in Hong Kong is only 16,400.
HK Express launches daily flights to Beijing Daxing International Airport
The service will commence on 12 March.
Jobless rate unchanged at 2.9%
The total number of unemployed people stands at 105,700.
4 trends shaping GBA’s commercial real estate investment market
Total annual investment volume reaching RMB66.1b in 2023.
Industrial rents grow 1.4% in 2023
Renewals dominated the leasing market last year.
Property investments drop 28% YoY to $37b in 2023
2023 only saw 65 deals.
Berking Re sits with a stable outlook, pressure from market volatility seen: AM Best
The insurer’s governance and regulatory oversight are expected to adequately protect its capital and assets.
Hong Kong investors are amongst the most eager to divest assets in 2024
The 2024 net buying intention of Hong Kong was -11%.
Grade A office rents drop 6.5% YoY in 4Q23
By 4Q23, average rent stood at $52.9 per sq ft.
Hong Kong falls to 77th place on list of most livable cities for ex-pats
The city ranked 17th in the 2013 edition of the list.
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