With an overall economic freedom score of 90.2, Hong Kong remains the number one freest economy in the world for the 25th consecutive year. The US-based Heritage Foundation explains that countries with high economic freedom have business-friendly tax codes and governments that encourage innovation and entrepreneurship. The liberty granted in the business sector of Hong Kong creates more opportunities for companies to develop in the country. Additionally, foreign brands have high chances to penetrate the local market.
Heritage Foundation studies also show that people of top-ranking countries live longer, have better health, are more educated, and have better ecological protectors. Considering these attributes for Hong Kongese consumers would indicate which businesses have the potential to flourish in this market. To set up shop in Hong Kong, marketers would have to identify what these economically free people need. Continue reading “How to Win the Hearts and Trust of Hong Kongese Consumers”