The Annual Business Climate survey is a report by the members of Team Sweden in Hong Kong: Business Sweden, The Consulate General of Sweden in Hong Kong and the Swedish Chamber of Commerce in Hong Kong. The report is a tool to map out the opportunities and challenges Swedish companies face when doing business in Hong Kong.
The business climate survey of Hong Kong was carried out during May 2020. It was sent to 147 member companies of the Swedish Chamber of Commerce in Hong Kong, with a total of 79 respondents.
Since the latest Business Climate Survey, in Dec. 2018, Hong Kong has experienced significant challenges, including political protests and the outbreak of Covid19. The enactment of the National Security Law has also created a high degree of uncertainty. Despite these challenges Hong Kong remains an important business hub and market for the Swedish business community.
According to the report, Swedish companies currently view the business climate in Hong Kong as negative, due to a high degree of uncertainty. However, a majority still remain resilient and profitable. The coronavirus outbreak is perceived as a short-term risk, while the political and social unrest are recognized as more long-term risks, with potential to affect Hong Kong’s status as an international business hub.