Swedish companies continue to have an important presence in Hong Kong. There are currently around 120 Swedish or Swedish-related companies in Hong Kong, and they vary in size and number of years in the market.
This year's survey shows that the companies' financial performance is rebounding, and the negative trend from the last few years has stopped, even though performance may not be back at pre-pandemic levels. Even though pandemic restrictions have been removed, they still impact Hong Kong's business climate.
Political developments over the last few years, including the implementation of the national security law, continue to affect Hong Kong's business climate. The companies' main concerns are impacts on Hong Kong's status as an international business centre, freedom of speech, media freedom and the judicial system's independence.
Finally, the survey, like in previous years, shows that most Swedish companies take sustainability seriously. Sustainability is part of their business models and contributes to their profitability. Many Swedish companies are leaders in green solutions and eager to share their experience and know-how as Hong Kong works towards the goal of carbon neutrality by 2050.
Please download the report to fully overview the results with a detailed analysis.
ABOUT THE SURVEY
The Business Climate Survey for Swedish Companies in Hong Kong SAR 2023 is a joint initiative by Team Sweden in Hong Kong SAR; Business Sweden, the Swedish Chamber of Commerce, and the Consulate General of Sweden.
The Business Climate Survey has been carried out in Hong Kong annually since 1997. The aim of the survey is to understand further the performance of Swedish companies, their perception towards market conditions, opportunities and challenges that they are facing, as well as their outlook on the Hong Kong market.
The 2023 survey was conducted between 13 March-30 March 2023. The response rate was 60 per cent. Out of the 111 Swedish companies in Hong Kong invited to participate in the survey, 66 companies participated.