Global Luxury CEOs Underscore City’s Status as Premium Hub for Luxury Business
HONG KONG, CHINA / ACCESSWIRE / December 2, 2024 / Long recognised as a land of luxury, Hong Kong has levelled up its luxury hub appeal following the Leaders of Luxury Summit 2024. Organised by Robb Report Hong Kong, the summit brought together luxury industry titans to discuss pivotal topics that “Redefine Luxury Through a Global Lens” at Regent Hong Kong on November 26-28, 2024. According to the latest “2024 Billionaire Census” report from Altrata, the city is currently world’s no. 2 with the highest number of billionaires. The city is expected to have 22.4% more ultra-high-net-worth individuals (UHNWI) by 2028, the second highest growth rate globally, according to the Knight Frank Wealth Report 2024.
Photo of Tak Man, CEO and publisher of Robb Report Hong Kong (left), Amy Yang, Vice President Marketing, APAC & IMEA of VistaJet (middle) and Dane Cheng, Executive Director of Hong Kong Tourism Board (right)
Panel discussion at the Leaders of Luxury Summit 2024
Unrivalled access to world’s largest luxury markets
Hong Kong, at the heart of Asia, is one of the fastest growing luxury markets globally, as well as a unique gateway to Mainland China, which is expected to experience the highest growth rate of UHNWI population by 2028, opening up a world of lucrative opportunities for all luxury brands.
HKTB Chairman Dr Y.K. Pang speaks at the Leaders of Luxury Summit 2024
HKTB Chairman Dr Y.K. Pang pointed out in his welcome remarks at the Summit, “as the main growth engine of the global luxury market, Asia-Pacific-including Mainland China-presents immense opportunities. China alone is projected to account for 25% of worldwide luxury sales by 2025. For luxury brands, Hong Kong serves not only as the ideal springboard into this rapidly expanding market, offering a platform to connect with discerning consumers across the region; it is also a powerful magnet attracting all those discerning consumers and HNWI, who live the luxury lifestyle.”
Luxury brand leaders hail Hong Kong’s best-in-class setup for investment and tourism
While attending Leaders of the Luxury Summit 2024 in Hong Kong, the C-suites and executives of leading limousine, yacht and private jet brands shared their personal vision of luxury experiences on land and in air and sea.
Dr Frank-Steffen Walliser, CEO of Bentley
Dr Frank-Steffen Walliser, CEO of Bentley, is impressed by Hong Kong’s pursuit of excellent quality. “Hong Kong has long been recognised for its strong market. The city often sets trends and embraces new technologies, making it an ideal market for exploring the brand’s potential. This trip is a good combination of attending the conference and meeting with our local customers and retailers. The real highlight of this trip is to hand over Four bespoke Bentayga EWB Azure models to the world-famous Peninsula Hotel. A very special occasion.” he said.
