Record-high numbers of companies and startups affirm Hong Kong as a great place to do business

According to the results of the 2024 Annual Survey of Companies in Hong Kong with Parent Companies Located outside Hong Kong and the 2024 Startup Survey, the number of companies in Hong Kong with overseas or Mainland parent companies rose to 9,960 in 2024, while the number of startups in Hong Kong increased to 4,694, both reaching record highs. 

The Secretary for Commerce and Economic Development, Algernon Yau, said, “These encouraging results demonstrate that Hong Kong is becoming increasingly attractive to businesses and remains an ideal place for Mainland and overseas enterprises to set up or expand their operations. The results are also a strong testimony to companies’ confidence in Hong Kong. With our unique advantages under ‘one country, two systems’, Hong Kong is the best two-way platform for overseas enterprises to tap into the Mainland market and for Mainland enterprises to go global, and therefore is their prime destination for investment.”

Director-General of Investment Promotion, Alpha Lau, stated that the figures indicate Hong Kong’s business environment has fully regained its strong growth momentum following the COVID-19 pandemic, while some companies with headquarters in Hong Kong believe that the city has clear advantages as a hub for capital, talent and technology.

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Hong Kong Continues to Be a Leading Global Startup Hub

Hong Kong’s startup landscape has exhibited remarkable resilience, continuing its upward trend into 2024. Despite ongoing external challenges, the findings from InvestHK’s 2024 Startup Survey reveal that the total number of startups has surged to 4,694, employing 17,651 individuals — a record high that underscores the ecosystem’s vitality.

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For more details of the survey results, please download the report here: 

2024 Annual Survey of Companies in Hong Kong with Parent Companies Located outside Hong Kong

2024 Startup Survey

To set up or expand your business in Hong Kong, please contact:

Tel: (852) 3107 1000
Email: enq@investhk.gov.hk
Website: investhk.gov.hk

Further Reading

Record-high Numbers of Companies and Startups Affirm Hong Kong as a Great Place to Do Business (7 MB)

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