- Hong Kong has lost ground to regional rival Singapore in recent weeks, according to an FT analysis of real estate prices, air traffic and other indicators.
- Singapore has made gains in air traffic, with arrivals now reaching 70% of pre-pandemic levels compared to just over 50% in Hong Kong.
- Singapore has seen an influx of foreign currency deposits and an increase in family offices, while Hong Kong has seen deposits dwindle.
- Chinese leader Xi Jinping’s clampdown on technology entrepreneurs has heightened Singapore’s attraction as a destination.
- Hong Kong still leads in financial fundamentals.
How Singapore stacks up against Hong Kong in battle of Asia hubs
FT analysis of real estate prices, air traffic and other indicators suggests Chinese territory has lost ground in recent years
Primrose Riordan
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