Recently taken under the fold by the Chinese language government, Hong Kong is a densely inhabited island, with a westernized outlook, Chinese language roots and tradition. The wonderful amalgamation of Chinese traditions plus British outlook has shaped a contemporary, westernized capital economy with a multi cultural ethos. Referring to its previous glories and recent return to Chinese sovereignty, understanding the ethos and lifestyle of Hong Kong becomes imperative once you plan to move to Hong Kong or are planning on working there.
Cultural History of Hk
After the defeat of China throughout the Opium War, Britain got Hong Kong as a colony to rule over for the next 99 years. It was in 1898 that the lease has been signed and China got back the sovereignty over Hong Kong in 1997. However , it was put into the agreement that Hong Kong would be able to maintain a totally free economy for the next 50 many years and so, Hong Kong gained the position of ‘Special Administrative region’. The special status endowed by Tiongkok has lead to a very open transfer and export policies with only 15% taxation limits. The perfect mix associated with ancient Chinese traditions and the overlay of western British influence from the last 99 years have given the people of Hong Kong, a different cast and separate identity. The influx of people over the years has earned Hong Kong the tag of a global city.
Work and Emerging Changes
The majority of the service industries deal in telecommunication, insurance, banking, real estate and tourism. Tourism in Hong Kong has gained a lot of world wide attention, especially as it is known as the ‘Movie Capital of Asia’. Despite being under the Uk influence, Hong Kong has been able to define a separate identity and the changeover along with sovereignty to China has been smooth. The corporate culture is an amalgamation of people working from all over the world, and the blending cultures have made the well well-informed working class with an international market savvy business culture in Hk fast growing. However , with changing times, expatriates looking for work in China and taiwan need to have language proficiency in Cantonese and Mandarin with a high level of experience in their fields.
The constant migration of people has enabled to make Hk to become cosmopolitan, well adapt to make expatriates feel at home. The unique social ethos at the workplace has brought about a multi ethnic society where people of different nationalities live and interact for a common goal. Though it has been subjected to intense political and economic changes, during the recent years, it has managed to remain a global city, with emerging markets–in real estate, tourism and a flourishing service industry.
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High end medical facilities have given rise to a brand new service industry of medical tourism.
As Hong Kong strengthens the economy, the demand for both residential and commercial spaces for purchasing and on rent, is on the rise. As it has become one of preferred base to get multi national companies in Asian countries, the demand to house the expanding expatriate employees is on the rise. As well as that the local population and better for each capita income has given increase for increased real estate investment. Even after the real estate recession ended in 2003, the costs are still undervalued making Hong Kong the sought after destination by overseas investors, with a bright future ahead. Quick progress in the Tourism industry and projection of Hong Kong as an international travel destination has indirectly helped real estate development in the country.