2021 is the year for pandemic recovery, businesses are looking at new ways to capture opportunities. Local consumers aside, the Chinese expats which account for over 1.3M (over 18%) of Hong Kong’s population form a significant demographic that are believed to be one of the key engines of the city’s post COVID-19 economic recovery. To provide perspective on this growing expatriate community that is shaping the city’s consumer market now and into the future, leading AI marketing platform EternityX today announced a survey that looks at the spending and investment habits of mainland Chinese expats to better understand their potential to contribute to the city’s recovery.
The Chinese expat community has contributed to the city’s economic transformation over the years, and their educational level and occupations show that they are highly adaptive with 79% of respondents holding a Bachelor’s degree or above. From EternityX’s data, 38% of surveyed Chinese expats are considered “affluent” as they make over HK$1.5M in individual income per year, two-thirds of whom are making over HK$2M per year. These upper-income households within the Chinese expat community wield strong purchasing power potential that can boost the city’s economy.
Download the infographic for full detail!