80% of respondents said city’s turmoil has affected their investment decisions; Singapore is the top relocation destination
A new American Chamber of Commerce in Singapore (AmCham) survey, conducted in collaboration with market researcher Ipsos, gives arguably the clearest indication yet of how business sentiment and investment decisions are being impacted by Hong Kong’s three-month-old political crisis.
Sixty-seven percent of senior managers, business directors and chief executive officers (CEOs) from company respondents said that Hong Kong’s reputation as a regional base of operations for businesses has been tarnished, according to the survey’s findings released on September 12.
Eighty percent of respondents, meanwhile, indicated that Hong Kong’s political turmoil has affected their future decisions to invest in the city. Sentiment is generally more conservative among companies without a business presence in Hong Kong (88%), compared to those with office space in the city (75%), the survey showed.
Over 20% said they were considering whether to move capital or relocate business functions out of Hong Kong, though more than 70% of respondents said they had no such plans. Among those companies considering to relocate, 91% indicated that their preferred destination would be Singapore.
Nile Bowie is a writer and journalist with the Asia Times covering current affairs in Singapore and Malaysia. He can be reached at nilebowie@gmail.com.
A new American Chamber of Commerce in Singapore (AmCham) survey, conducted in collaboration with market researcher Ipsos, gives arguably the clearest indication yet of how business sentiment and investment decisions are being impacted by Hong Kong’s three-month-old political crisis.
Sixty-seven percent of senior managers, business directors and chief executive officers (CEOs) from company respondents said that Hong Kong’s reputation as a regional base of operations for businesses has been tarnished, according to the survey’s findings released on September 12.
Eighty percent of respondents, meanwhile, indicated that Hong Kong’s political turmoil has affected their future decisions to invest in the city. Sentiment is generally more conservative among companies without a business presence in Hong Kong (88%), compared to those with office space in the city (75%), the survey showed.
Over 20% said they were considering whether to move capital or relocate business functions out of Hong Kong, though more than 70% of respondents said they had no such plans. Among those companies considering to relocate, 91% indicated that their preferred destination would be Singapore.
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