Recently taken under the fold by the Chinese language government, Hong Kong is a densely populated island, with a westernized outlook, Chinese roots and tradition.
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The enchanting amalgamation of Chinese traditions and 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 tradition of Hong Kong becomes imperative if you plan to move to Hong Kong or are planning on working there.
Cultural History of Hong Kong
After the defeat of China during the Opium War, Britain got Hong Kong as a colony to rule more than for the next 99 years. It had been in 1898 that the lease has been signed and China got back the particular 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 years and so, Hong Kong gained the status of ‘Special Administrative region’. The particular special status endowed by China has lead to a very open import and export policies with just 15% taxation limits. The perfect mix associated with ancient Chinese traditions and the overlay of western British influence of 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 acquired a lot of world wide attention, especially since it is known as the ‘Movie Capital associated with Asia’. Despite being under the British influence, Hong Kong has been able to define a separate identity and the changeover along with sovereignty to China has been clean. The corporate culture is an amalgamation of people working from all over the world, and the blending cultures have made the well informed working class with an international market savvy business culture in Hong Kong fast growing. However , with modifying 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 Hong Kong to become cosmopolitan, well adapt to create expatriates feel at home. The unique social ethos at the workplace has brought in regards to 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 financial changes, during the recent years, it has managed to remain a global city, with growing markets–in real estate, tourism and a booming service industry. High end medical amenities have given rise to a brand new service industry of medical travel and leisure.
As Hong Kong strengthens the economy, the demand for both residential and commercial spaces for buying and on rent, is on the rise. Because it has become one of preferred base with regard to multi national companies in Asia, 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 rise for increased real estate investment. Even after real estate recession ended in 2003, the costs are still undervalued making Hong Kong the sought after destination by overseas traders, with a bright future ahead. Fast progress in the Tourism industry plus projection of Hong Kong as an global travel destination has indirectly helped real estate development in the country.