While 42% of companies around the world are looking for growth in domestic markets, outward-looking Hong Kong is bucking the trend.
This is according to the latest international business survey by Regus, a global workplace provider, based on the opinions of more than 20,000 senior executives and business owners across 95 countries.
Revealing the survey results, Regus said in a statement that while just 17% of firms globally are looking overseas to drive growth, in Hong Kong the number targeting international markets is 26%. Also, less than 20% of Hong Kong respondents are pinning their growth hopes on domestic market expansion.
Similarly, Singapore's companies are looking outward for growth. Regus says 33% of firms surveyed reported they are mainly experiencing growth by expanding abroad, and just 17% are aiming to expand in new markets within the country.
Taiwan too is on the same path: nearly twice as many firms there than in Hong Kong - 46% - reported that they are mainly experiencing growth by expanding abroad. Only 15% reported experiencing growth by expanding in new domestic markets.
However, in Mainland China, the focus is on the domestic growth: In China, only 13% of respondents reported that they are experiencing growth by expanding abroad. This compares with 57% of respondents report mainly experiencing growth by expanding in new markets within the country.