AmCham HK’s Latest Members Business Sentiment Survey Shows Cautious Optimism in 2023
MARCH 30, 2023 – HONG KONG – The American Chamber of Commerce in Hong Kong (“AmCham”) released its 2023 Members Business Sentiment Survey Findings Report today.
The survey, which was conducted during the first two months of 2023, captures wide ranging views of those who responded on the business outlook for the territory. The findings provide a useful reference for companies and executives to assess the business environment when making decisions following the lifting of Hong Kong’s COVID measures.
“Members surveyed are cautiously optimistic about their business outlook for the coming year, as they become more certain about remaining in Hong Kong. Members generally believe Hong Kong remains competitive as an international hub but remain vigilant as a result of continued US-China tensions, overseas public perception of Hong Kong, as well as the overall weakening global economy. These three external risks are tied and perceived as the most prominent challenges facing business for respondents for the rest of the year,” said AmCham President Dr. Eden Woon.
Talent attraction, talent retention, and domestic political uncertainty are also issues of concern for members surveyed. A majority of respondents (73%) remained confident in the rule of law in Hong Kong. On National Security Law, 38% cited it as having direct (32% of them) or indirect (68% of them) impact on their business, especially their ability to attract and retain talent. As for the Greater Bay Area, clearer rules and laws, regulatory harmonization and visa free access to the mainland are the top three factors that members would like to see progress on, in order to support companies’ business opportunities.
This year, AmCham partnered with Intuit Research, a professional research company, to design, process and analyze the survey findings.
Click here to read the full report.
Ms. Queenie Tsui
Director, Communications & Government Affairs