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More than 3 Percent Economic Growth in Q3 in Hong Kong

Written by: Editor

More-than-3-Percent-Economic-Growth-in-Q3-in-Hong-Kong.jpgHong Kong’s economy continued to grow for the fourth consecutive quarter. The city recorded an economic increase of more than 3 percent during the third quarter of 2017. According to the Third Quarter Economic Report 2017, external demand had a significant role to play in the overall positive economic evolution. Moreover, company registration in Hong Kong is straightforward and accessible to foreign investors, another factor in the city’s attractiveness.
 

The fourth consecutive quarter of growth in Hong Kong

 
According to the Third Quarter Economic Report 2017, Hong Kong managed to keep its above-average economic expansion for the fourth consecutive quarter. Strong domestic demand and an increase in private consumption were just two factors that lead to a 3.6 percent economic growth in the third quarter of 2017, compared to the same period last year.
 
External demand was a third factor that helped attain economic growth. Moreover, the experts who released the report for the third quarter believe that Hong Kong’s evolution was also aided by the largely tranquil global economic conditions.
 
Companies in Hong Kong were the ones to benefit from the increase in private consumption. Company registration in Hong Kong is notoriously straightforward and an important advantage for all investors who choose to base their business here.
 

A favorable future growth

 
In light of the most recent Q3 growth, experts now believe that Hong Kong could expect a 3.7 percent overall growth for the entire year. This is higher than the forecast released in August which predicted a growth of 3.4 percent. The Special Administrative Region’s evolution is likely to be favored by an improved global economic outlook, with emphasis on the evolution of Mainland China which is also likely to expect an economic growth.
 
A favorable external environment is likely to have a positive impact on Hong Kong exports and the number of tourists coming into the city.
 
Investors who want to know specific details on how to open a Hong Kong company can contact us for more information and assistance. 

 

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