Connect with us

Hi, what are you looking for?

The American GeniusThe American Genius

Business News

Business trend: Hong Kong residents turning to eCommerce

While you can’t throw a stone without hitting a banker or lawyer, many of whom are Western, in Hong Kong small eCommerce businesses are on the rise.

hong kong

hong kong

Emerging type of professional in Hong Kong

I know several Westerners in Hong Kong-all of whom are British or American-trained lawyers. They all say the same thing… there are three types of people in Hong Kong: bankers, lawyers or people who support one of those functions.

While this held true on Hong Kong island during my visit this month, and I could not escape overhearing conversations about interest rates or legalese, it’s not necessarily true of the surrounding areas. Kowloon and the New Territories are giving rise to a new type of Hong Kong business person – one heavily invested in eCommerce.

This new business person is taking full advantage of the Hong Kong government offerings of .hk domains and Hong Kong’s rating of fastest internet provider in the world. But how these entrepreneurs are going about running their businesses may surprise you.

What are these entrepreneurs doing?

The newest way to earn a living while taking advantage of Hong Kong’s pricey real estate market and telecommunications technologies rests in one website: Airbnb, an online “community marketplace for unique spaces” which connects would be renters with apartment owners/leasers around the globe.

Advertisement. Scroll to continue reading.

Many of the Hong Kong working class complain of high real estate costs, and a few are turning to renting out rooms and acting as virtual inn keepers. I interviewed one such inn keeper named Joe who has completely made the switch from part-time subletter to full time inn-keeper (a moniker he’s given himself) with three apartments in Hong Kong for short or long-term stay.

When I asked him how difficult of a switch it was, he said, “It was quite easy considering the traffic into Hong Kong. Anyone with an apartment would be silly not to rent out some of the space.”

Also supporting themselves through the web

Another way is for Hong Kongers to offer goods and services online through sites like Facebook, Etsy and the like. Next time you’re online shopping, take a moment to see if your new purchase originated in Hong Kong.

This is good news for startups who want to capture some of the online market share. Knowing that your global counterparts are relying on technology to spur sales may be just the push some Western businesses need to invest in infrastructure to enable them to compete.

Advertisement. Scroll to continue reading.
Written By

Monica Moffitt, founder and Principal Cultural Consultant at Tianfen Consulting, Inc., has traveled the world and enjoys linguistics and all things culture. Having split her career between project management and business analytics, Monica merges logic, fluency in Chinese and creativity in her new role as cultural consultant. She received a Bachelor of Arts in East Asian Studies/Chinese from Vanderbilt University and a Master of Business Administration (International Management and Marketing) from University of Texas at Dallas.

1 Comment

1 Comment

  1. Miami real estate

    May 27, 2013 at 8:21 am

    i want to buy some macbook so let me know price.

Leave a Reply

Your email address will not be published.

The
American Genius
news neatly in your inbox

Subscribe to our mailing list for news sent straight to your email inbox.

Advertisement

KEEP READING!

Business News

(Business News) Technology has shifted the business landscape rapidly, and a new study reveals four emerging trends you should be familiar with.

Business Entrepreneur

As the world becomes smaller, more and more organizations are springing up with offers to help bridge the gap between East and West, and...

Business Entrepreneur

While many business owners see mainland China as a haven for manufacturing and production, it’s worthwhile to get to know their Hong Kong counterparts.

Business News

Pollution has gotten so bad in China that executives expect bonuses for enduring it, or they're emigrating and American entrepreneurs are finding ways to...

The American Genius is a strong news voice in the entrepreneur and tech world, offering meaningful, concise insight into emerging technologies, the digital economy, best practices, and a shifting business culture. We refuse to publish fluff, and our readers rely on us for inspiring action. Copyright © 2005-2022, The American Genius, LLC.