Why is Hong Kong an Ideal Destination for Higher Education?
January 17, 2024Hong Kong has emerged as a beacon for international students seeking a world-class education in an unparalleled business environment. Hong Kong stands out as an ideal destination for higher education due to its vibrant culture, advanced infrastructure, and economic prowess. We will look at the compelling reasons why Hong Kong has become a popular destination for students from all over the world.
World's No.1 Freest Economy since 1996
Hong Kong's appeal is greatly attributed to its standing as the global leader in economic freedom. According to the Fraser Institute based in Canada, Hong Kong has remained its position at the forefront since 1996, demonstrating its commitment to free-market principles, limited government intervention, and strong economic strategies. This setting not only promotes economic development but also provides students with the opportunity to interact with a thriving business environment.
World’s No.2 business-friendly tax system
According to PricewaterhouseCoopers LLP and the World Bank Group's Paying Taxes 2020 report, Hong Kong has the world's second-best business-friendly tax system. With low tax rates and a transparent taxation framework, Hong Kong attracts multinational corporations and entrepreneurs, and provides students with the opportunity to understand and navigate the intricacies of global business practices.
World’s No.3 Easiest place to do business
According to the World Bank Group's Doing Business 2020 report, Hong Kong is the third easiest place in the world to do business. This recognition highlights the city's efficiency in areas such as starting a business, obtaining construction permits, and enforcing contracts. For students aspiring to venture into entrepreneurship or corporate management, Hong Kong's streamlined business processes offer a valuable learning experience.
World’s No. 4 Global Financial Center
Hong Kong is the fourth most important global financial center, according to the The 2023 Global Financial Centres Index 33rd Edition. With a strong financial infrastructure encompassing a well-regulated banking sector and a flourishing stock market, students pursuing studies in finance, economics, or related fields can gain valuable exposure to real-world financial operations and insights into global market dynamics.
World’s No. 5 World Competitiveness Ranking 2022
According to the International Institute for Management Development's World Competitiveness Yearbook 2020), Hong Kong is ranked fifth globally in the 2022 World Competitiveness Ranking. This reflects the city's overall competitiveness, which is determined by factors such as economic performance, government efficiency, infrastructure, and innovation. Students studying in Hong Kong are immersed in an environment that encourages critical thinking, innovation, and adaptability - all of which are critical skills for success in today's competitive global landscape.
In summary, Hong Kong's economic strength, business-friendly environment, and global competitiveness make it an ideal destination for students seeking a comprehensive education that goes beyond traditional classroom learning. By choosing Hong Kong, students not only receive an excellent education but also gain invaluable insight into the operations of a major global economic and financial center.
World-class Study Abroad Journey at Hong Kong University Business School
Hong Kong University Business School (HKUBS), which is part of the University of Hong Kong (HKU), is Asia's leading business school. With a global perspective, HKUBS is well-known for its excellent teaching quality, experienced faculty, and diverse, innovative programmes.
In an international environment, HKUBS programmes not only provide practical knowledge but also lay a solid foundation, preparing students for future development. Furthermore, HKUBS is dedicated to conducting research projects that address the specific needs of Vietnam, Hong Kong, and the global community within the context of Asia's rapidly developing market economy. HKUBS's teaching programmes have helped it become a well-known education and research center in Asia.