The standard of living in Hong Kong is very high. In fact, the average salary of the province’s residents is a million dollars, as of a few years ago. Because Hong Kong residents live so well, it is also very expensive to live in the city. The province has been a financial centre in the world and in the Asia-Pacific market at least since colonial Britain, and this is one reason for this wealth.
As an economic powerhouse, the province commands a lot of respect around the world for being an established location for business. However, rents are killing the average business’s overhead. Hong Kong rents were some of the highest a few years ago, even rivalling New York and London. This is one of the reasons that when it comes to coworking space – Hong Kong has a thriving scene.
Let’s take a closer look at some of the reasons why the coworking space is booming in Hong Kong.
A Space To Network
Nowhere is the business relationship more important than in Hong Kong. While conglomerates call the province home, the province is run by prominent families as well. Being well-connected is a great attribute when trying to establish a business in Hong Kong.
The coworking platform can give your business the chance to make the types of connections that help get the word out about your business. The coworking space’s setup provides businesses with the opportunity to naturally engage other professionals throughout the day, and when there are other events, professionals have a chance to relate in a more social setting.
Fun Places To See And Be Seen
The coworking space can provide a fun way to work. The space presents businesses with an open floor plan that is also open to many possibilities. During the work day, this office without borders lends itself to being a place for great industry. You might find coworking professionals engaging in conversation, but more than likely you will find a lot of collaboration.
Furthermore, with such a friendly business atmosphere, it makes going to work enjoyable simply because you get to interact with so many different types of workers. In a general coworking space, you can find yourself working with various creative types, free-thinkers, and just your average everyday entrepreneur. The mix makes not only for a very fun working environment, but it also makes for an interesting marketplace of ideas.
Access On A Budget
As stated before, Hong Kong office rents are very high, and the coworking space can provide your business with the tools needed to manage the everyday affairs of business at a much lower space. Imagine being able to work in the Central District or near Causeway Bay, which is increasingly becoming a popular place for coworking spaces. The coworking space makes it possible to afford these really prestigious office locations simply by streamlining a lot of the costs associated with managing an office.
Depending on the coworking space, you might find yourself having access to a lot of resources that are typically not available for those working in an office through traditional leasing. Because office rents in the province are impossibly high making renting in the financial centre virtually impossible, the coworking space is a viable solution for businesses who need access to businesses, resources, and people who work in these locations. The coworking space lease, furthermore, is a little less protracted making it possible for businesses to move on if needed.
Why Coworking In Hong Kong?
There are so many reasons for this particular workspace to take off in a place that is not just another opulent capital in the Asia-Pacific market. At the foundation of commerce and economy is the type of industry that builds wealth. The coworking space has given access to this new generation of entrepreneur that values collaboration in a shared workspace setting.