More firms prefer Hong Kong over Singapore for international expansion: survey

Hong Kong’s tax and governance are way more attractive.

More international companies prefer to establish their headquarters in Hong Kong versus Singapore, a study by the British Telecommunications revealed.

The study, entitled “The Art of Connecting Global Business”, showed that 32% of business decision-makers believe Hong Kong has the most attractive tax and governance regime, compared with 23% in Singapore.

Firms also believe that Hong Kong citizens are more affluent and have greater disposable incomes, with 31% choosing Hong Kong compared to 29% in Singapore.

Hong Kong also trumped Singapore for the criteria regarding the workforce’s IT skills, where 26% chose Hong Kong over 23% in Singapore.

23% of companies saw Singapore as a highly desirable market for expansion, a tad lower compared to 27% for Hong Kong and 29% for China.