Hong Kong, ADB predicts economic growth of 3.2% in 2018

11/04/2018

The Asia Development Bank (ADB) has estimated the annual growth of Hong Kong until 2019

 

2018 is up 3.2%. These are the forecasts published by the Asia Development Bank (ADB) for Hong Kong. Certainly important numbers, even if down compared to 3.8% in 2017, but clearly above 2.1 percentage points recorded in 2016.

Yasuyuki Sawada, chief economist of ADB, confirmed that he presented the bank’s annual Asian Development Outlook publication, analyzing the growth rate up to 2019; for the next year, according to ADB, Hong Kong’s economic growth should be around 3% a year.

 

The reasons for growth must also be sought in the 2017 exploit

 

The great growth that, according to estimates, will take place in Hong Kong during 2018 finds its roots in the economic implementation of 2017. The main reasons are certainly to be found in the solid demand of the internal market, the narrow labor market and the recovery of tourism.

These, albeit with some physiological moderation in the various periods of the year, will be the driving motives. Also important is the integration of the Greater Bay Area Guangdong-Hong Kong-Macao.Yasuyuki Sawada has said that Hong Kong, rather than face the competition from the growing service industries in other cities in the Greater Bay Area, will benefit from easier access to their vast resources of manpower.

 

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