The question of how to make Hong Kong great has always been relevant, whether before 1997 or after. As a small city with limited resources, Hong Kong has every reason to be ambitious. There is still a lot to do to ensure it remains competitive in the years ahead.

Which leads to another question: what are the main ingredients for a world-class metropolis? At the Chamber’s “CEO 123 Tell Me More” luncheon on 12 June, Professor Philip Chen, Independent Non-Executive Director of Hang Lung Properties Limited, shared with members some inspiring thoughts on the topic and the ways Hong Kong can enhance its status as “Asia’s world city.”

Elaborating on his well-known “great cities theory,” Chen pointed out that geographical location, proximity to natural resources, cultural and religious tradition, and political significance, despite their importance, are not the factors that determine the success of a city. He cited Brussels, Brunei, Rome and Washington DC as examples to support his views.

“If we look at history, great cities such as Venice, Xian, Malacca and Cape Town shared a common characteristic – they were all transport centres,” Chen argued, adding that as the transport routes and modes changed, so did their fate.

Today, world cities like London, Frankfurt, Dubai, Singapore and Hong Kong are all air hubs with strong home carriers.

The advantages of having a local airline are manifold. “First of all, it is a major foreign exchange earner. If you look at Cathay Pacific’s annual report, about 25% of its revenue is from Hong Kong, while 75% comes from overseas,” said Chen. A home carrier also makes huge investments where it is based, boosting local employment. Moreover, as an international brand name, the airline serves as a promoter, advertising its home base overseas and contributing to the tourism industry. 

In this regard, enhancing the competitiveness of air transport facilities and infrastructure is the top priority. 

“Hong Kong is doing a great job in terms of airport infrastructure, facilities and convenience,” Chen noted. With major Asian cities and half of the world’s population within a five-hour flying circle, he said Hong Kong should capitalize on this unique position as a gateway to vital markets.

“We must develop the local carrier aggressively,” said Chen, adding that the Government should steer with a vision to ensure that the airline is one of the best in the world. For example, it is important to guarantee the frequency of flights and access to major markets. Given Hong Kong’s focus on strengthening connections worldwide, leveraging its status as a leading aviation hub is the path to becoming a great city.