The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.
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Learn moreJun 2019
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Hong Kong, a city with a high level of access to the internet, has long been lagging its neighbouring countries in Asia in terms of digitalisation. One of the fundamental reasons was attributed to the lack of regulatory framework catering to fast-growing online commerce and digital payment systems.
With its existing high level of network penetration, Hong Kong is expected to be one of the world’s earliest adopters of next-generation 5G mobile broadband services. In December 2017, the Office of the Communications Authority announced that the high frequency spectrum is expected to be available in 2019 and ready for telcos to offer the service in 2020.
Facilitated by the development of high quality networks, IoT and smart city development have also been promoted actively by the government. HK Electric has launched a campaign in 2018 called “Smart Power Services” which is intended to help Hong Kong become a smart city.
In June 2018, 3 Hong Kong and Alibaba Group entered into a digital internet economy partnership to develop Hong Kong’s new digital internet economy ecosystem. Alibaba’s economy ecosystem project includes “Four Areas” covering city, home, manufacturing and automobiles.
While digital payment gained traction in Hong Kong over the past few years, cash payment remains the most common and dominant payment method. According to the AlipayHK Smart Payment Popularity Index released by the Hong Kong Productivity Council, almost 99% of respondents use cash payment as their regular payment, while around 68% of respondents refused to adopt mobile payment.
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Overview
Discover the market trends as it relates to the Digital Landscape in Hong Kong, China with research from Euromonitor’s team of in-country analysts.
Explore the digital readiness of consumers in Hong Kong, China in order to strengthen your strategies for this tech-first era.
If you are in consumer-facing industries, our research will save you time and money by empowering you to make informed, strategic and profitable business decisions.
Our market research reports answer questions such as:
This report originates from our Digital Consumer market research database.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.