Blog

Guangdong-Hong Kong-Macau Bay Area: Massive opportunities for young people

A gist of the blog:

The concept of bay area economy is not new. The New York Bay Area, San Francisco Bay Area and Tokyo Bay Area are well-known global examples. The Guangdong-Hong Kong-Macau Bay Area (the Bay Area) is already comparable to those economic clusters in US and Japan in terms of the size of population and economy, and shows even greater potential. The Bay Area, covering 9 cities and 2 special administrative regions, has a population of over 60 million and a total area of 56 000 square km, both of with exceed that of the bay areas of Tokyo and San Francisco. While the aggregate GDP of the Bay area ($US 1.4 trillion) is still trailing that of the Tokyo Bay Area ($US 1.8 trillion), it is very close to that of the New York Bay Area ($US 1.44 trillion). The GDP of the Guangdong-Hong Kong-Macau Bay area is comparable to that of Australia (ranks 13th globally) and South Korea (ranks 11th globally).

Under the “One country, Two systems” principle, Hong Kong is performing unique functions and is indispensable to the development of the Bay Area. For young people who aspire to start their own business, the Bay Area also has another important meaning: that our “local market” will be expanded from the existing 7 million residents of Hong Kong to the entire 67 million population of the Bay Area. The huge market will be a useful leverage point for our young entrepreneurs to develop their businesses.

January 28, 2018