Staff Reporter
,
Hong Kong
Photo by Ryan Kwok on Unsplash
Most (78%) cite higher returns than on the Mainland.
Hong Kong’s reputation as a financial centre has improved over the past year, data from McKinsey & Company showed.
According to the study, 78% of consumers from the Greater Bay Area (GBA) are investing in Hong Kong due to earning higher returns than on the Mainland.
The same number of consumers said they choose Hong Kong to seek more stable returns.
Other reasons why GBA consumers invest in Hong Kong include preparation for investment immigration (48%), preparation for their children’s overseas education (35%), risk diversification (34%), and emergency asset allocation (24%).
When choosing a financial institution in Hong Kong, GBA consumers look for an attractive interest rate on savings accounts (61%) and low management and transaction fees (51%).
Few cited the quality of financial advisors (16%) and good online experience (6%) as the top reasons for selecting a financial institution in the city.
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Source By https://hongkongbusiness.hk/financial-services/in-focus/why-gba-consumers-invest-in-hong-kong