AmCham Chairman Lucille Barale says the 2004 Business Outlook Survey confirms that Hong Kong continues to be an attractive place to do business in the region
The bright festive lights reflect Hong Kong's upbeat economic outlook and optimism in most business sectors

AmCham member companies continue to be optimistic about Hong Kong's economic future as nearly 100 per cent of respondents anticipate "good" or "satisfactory" overall company performance in 2005. 48 per cent intend to expand business while 44 per cent plan to hire more staff over the next three years.

"Hong Kong continues to be a very attractive place to do business in the region. AmCham members are telling us they are very satisfied with Hong Kong's business environment," said AmCham chairman Lucille Barale. "They value the convenience of Hong Kong's location and the strong legal and regulatory environment. Hong Kong's economic fundamentals continue to be strong and we expect further economic growth by 2005."

Happy workers

Hong Kong workers are the most optimistic in the world on the employment situation in 2005, a survey by research firm TNS and Gallup International has found. The survey which polled 65 economies in late 2004 also found Hong Kong people to be the second most optimistic about the 2005 economy among 12 Asia Pacific economies.

TNS Hong Kong associate director Stephan Yap said the positive mood has a lot to do with the influx of mainland tourists, a rebound in the local economy and the implementation of the Cepa free trade pact.

"It's encouraging to observe such robust optimism in Hong Kong which hopefully sets the stage for sustained growth as we welcome in the new year," added Mr Yap.

International fund managers voted Hong Kong as Asia's most-favoured equity market in the latest monthly Dow Jones Newswires survey as an improving economy, stronger consumer demand and easing unemployment set the stage for better stock returns in 2005.

Stocks on the boil

Hong Kong stocks have risen 13 per cent in 2004 as an influx of mainland visitors filled shops and helped the economy to rebound. The Hong Kong stock market is set to finish the year with an historic high for market capitalisation setting new records for daily turnover. Capital raised by new share issues has jumped by nearly two-thirds from 2003. (Details in Records set as mega-IPOs raise billions)  
 
Hong Kong International Airport (HKIA) is set for another record-breaking year. In 2004, total cargo throughput at the airport is expected to exceed three million tonnes, a 14 per cent increase over last year. Chairman Dr Victor Fung said HKIA has taken several business initiatives to ensure Hong Kong maintains its position as Asia's premier aviation centre. These include the setting up of the Air Cargo Consolidation Centre at the Shenzhen Futian Free Trade Zone, the Marine Cargo terminal, expansion at the Asia Airfreight Terminal and express air cargo services by DHL.

Passenger arrivals at HKIA surged nearly 15 per cent in November compared to the same period last year, the sixth successive month for the passenger figure to exceed three million. Aircraft movements rose nearly 9 per cent and cargo flights recorded a 22 per cent growth over last year.

Related links
American Chamber of Commerce  
Hong Kong International Airport  
Grant Thornton 
Dow Jones Newswires