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For Immediate Release

Businesses in Hong Kong are significantly more optimistic about the city’s economic outlook for the coming 12 months, according to the findings of the Hong Kong General Chamber of Commerce’s (HKGCC) latest Business Prospects Survey. A total of 48.3% of respondents said they were positive about business conditions in Hong Kong in the coming 12 months, up sharply from just 18.3% last year. On the opposite end of the spectrum, only 15.3% of respondents said they were negative about their prospects for 2026, compared to 44.3% in the previous year. 

“Companies are definitely more optimistic than last year, when President Trump was threatening to raise tariffs, which created a lot of uncertainties for businesses. This year’s survey might also have been influenced by the U.S. and China agreement to a tariff truce and peace talks between Israel and Palestine,” said HKGCC Chairman Agnes Chan.  

The survey, conducted from 30 October to 12 November, revealed that over 70% of respondents reported that their business turnover in the first 10 months of 2025 had either increased (28.8%) or remained largely the same (41.5%) compared to the same period last year. For the coming year, 40.3% forecast an increase in business turnover, 44.1% expect no change, while just 15.7% expect a decline.  

Although respondents appear to be taking a wait-and-see approach towards their capital investment in Hong Kong -- with 65.7% anticipating no change in their investment levels in 2026 -- sentiment was considerably more optimistic for outbound investments aimed at diversifying risk and accessing new opportunities.  

The Greater Bay Area (GBA) (excluding Hong Kong) continued to be a hub for investment. Among those already operating in the region, 38.7% indicated they would increase investment over the next 12 months, compared to just 3.7% planning to reduce their investment in the GBA. Plans for the rest of the Chinese Mainland were slightly more cautious: with 24.1% intending to inject additional capital, while 50.6% aim to maintain their current investment levels in 2026. 

Regionally, respondents showed growing interest in diversifying their investments in emerging markets, especially in Southeast Asia. About 41.1% planned to boost their investments in ASEAN over the next 12 months, while 26.2% aimed to increase investment in the Middle East. 

“Sluggish global economic growth and geopolitical headwinds remain the key challenges for businesses in Hong Kong,” said Chan. “To offset this, companies are exploring new opportunities and diversifying their markets.” 

The survey also highlighted the importance of digital transformation. Although over 90% of businesses indicated they were working to integrate AI and other digital technologies into their operations, most remained at a moderate (45.8%) or limited (30.9%) stage of adoption. Unsurprisingly, SMEs were making slower progress in digital transformation, with 14% not adopting any of these technologies, compared to just 2% of large enterprises. 

Among respondents who have already adopted AI or digital technologies, 75.5% cited increased operational efficiency as the most notable benefit. Other advantages included lower operating costs (40.7%), reduced human error through automation (38.9%) and enhanced product or service quality (37%). 

However, the lack of technical talent is clearly hindering businesses in their digital transformation journey, reported by over half (53.8%) of respondents. Along with high upfront investment (38.6%), these may be the reasons behind the somewhat sluggish progress expected in further digitalization over the short term, with only 24.3% of respondents optimistic about achieving noticeable progress and completing digital transformation.  

The increasing adoption of AI and digital technologies could lead some businesses to restructure their workforces. On hiring intentions, 22.5% of respondents said they plan to recruit more staff, while more than half (55.9%) will maintain their current headcount in 2026. Just 12.3% said they planned to cut staff, compared to 17.4% last year. 

“AI-related innovation may cause near-term job displacement, but will also ultimately create new opportunities. Respondents rated their employees as not yet ready to support digitalization, underscoring the need for businesses and the Government to upskill our workforce for digital transformation and future growth,” said Chan.  

HKGCC also revealed its economic forecast for 2026, which predicts real GDP growth of 2.7% with headline inflation of 1.8%. 

Hong Kong has demonstrated remarkable resilience amid global uncertainty. Looking ahead, the economy faces a mix of both strengths and vulnerabilities. While the overall local business environment should improve, sluggish global growth, heightened geopolitical risks and the AI race will continue to reshape markets in ways that could change the world. 

About the survey 

The annual Business Prospects Survey, conducted from 30 October to 12 November 2025, received a total of 236 valid responses. Professional and business services accounted for the most respondents (23.7%), followed by trading companies (18.6%), and property/construction (9.3%). 

HKGCC Chairman Agnes Chan (centre), CEO Patrick Yeung (left) and Economist Doris Fung, presented the findings of HKGCC’s Business Prospects Survey today. 

HKGCC Chairman Agnes Chan said a total of 48.3% of respondents said they were positive about business conditions in Hong Kong in the coming 12 months. 

High resolution slides for the survey can be downloaded here.  

Media inquiries: Please contact Ms Chloe Lee at 2823-1297 / clee@chamber.org.hk