Entrepreneurs in Hong Kong are among the most globally minded in the world, and business owners are seizing opportunities and benefiting from deepening international wealth corridors as globalization enters a new and dynamic phase, according to a recent report.

There is also a decisive shift in how wealth is being diversified and managed internationally, with a strong focus on Asia and the Asia-Middle East corridor, nearly three in five entrepreneurs globally ( 59% ) diversifying wealth internationally, and nearly 1 in 10 considering moving personal assets to Hong Kong, finds HSBC Private Bank’s Global Entrepreneurial Wealth Report 2025.

Hong Kong is particularly appealing to entrepreneurs in Asia looking to diversify, the report shows, ranking as the preferred international choice for entrepreneurs in mainland China ( 22% ) and Taiwan ( 26% ) to diversify their wealth.

Similarly, entrepreneurs in mainland China are one of the most interested in expanding their business to Hong Kong ( 78% ), the report details, while global entrepreneurs cite Hong Kong’s access to a wider customer/client base, better professional services and more advanced technologies as key reasons for wanting to conduct business here.

Despite market volatility and geopolitical uncertainty, the vast majority ( 93% ) of entrepreneurs in Hong Kong are positive about their business outlook, the report reveals, and 84% feel optimistic about their personal wealth prospects, with outlook for their business ( 51% ) and performance from their investment portfolio ( 46% ) as the top two driving factors.

Hong Kong entrepreneurs are particularly internationally mobile, the report points out, ranking third globally with 80% holding multi-residency status, significantly higher than the global average of 56%. More than half ( 54% ) of the entrepreneurs in Hong Kong hold dual residency in mainland China or Singapore, with the rest spread across Taiwan, Japan, the UK and France. On the business front, 42% of Hong Kong entrepreneurs plan to expand their business into new markets in the next 12 months.

Globally, technology or advancements in artificial intelligence ( AI ) are seen as major drivers of business optimism, the report shares, with more than three in five ( 62% ) of entrepreneurs worldwide citing tech advancements or AI as the top factors driving positivity for their business, while investing in AI is the most popular strategy for expansion. In Hong Kong, investing in technology is also a key strategy for business expansion.

Hong Kong entrepreneurs, the report reveals, are enthusiastic luxury consumers. Nearly half ( 49% ) spend on luxury goods, such as high-end fashion and jewellery, followed by real estate for personal use ( 48% ) and cars ( 47% ). Hong Kong entrepreneurs are more likely than the rest of the world to spend on art and collectibles ( 33% ) compared with a global average of 24%.

Challenges ahead

Hong Kong entrepreneurs, the report notes, outweigh their international counterparts on a number of concerns about the next generation taking on the business.

Most notably, 63% worry that inheriting significant wealth will erode the values and work ethic of the next generation, higher than the global average of 50%, while the same proportion ( 63% ) find it difficult to discuss which roles or responsibilities in the business are best suited to members of the next generation ( versus a global average of 45% ).

Other concerns include fearing that a large inheritance will create disputes within the family ( 58%, versus 50% globally ) and finding it difficult to discuss money with the next generation ( 52%, versus 40% globally ).

“We remain confident in Hong Kong’s enduring role as a pivotal international wealth hub,” adds Lok Yim, the bank’s regional head of global private banking for Asia-Pacific. “In the past year alone, we have seen a growing number of entrepreneurs choose Hong Kong to drive globalization and diversification, particularly from mainland China.”