Food and Beverage
Long one of the world’s culinary capitals, Hong Kong is fast becoming a centre for the wine trade too, since the Government’s 2008 decision to abolish duty on wine’s import. Unbeatable logistics plus the high number of business and leisure visitors it receives each year make Hong Kong a compelling proposition for companies expanding in the food and beverage sector.
The global demand for wine is shifting from traditional wine consumption markets, like Europe and the US, to Asia. Strong economic growth, increased prosperity and changes in lifestyle have led to a dramatic increase in demand for wine, particularly in Mainland China.
The Hong Kong Government’s decision to cut duty on wine and beer to zero in February 2008 has propelled Hong Kong into the position of Asia’s wine hub. All duty-related administration has been eliminated, making the import and export of wines hassle-free. In 2010, Hong Kong overtook New York to become the world’s largest wine auction centre.
Currently, the Asian wine market represents just a few percent of global wine consumption. This is forecast to double the current amount, and jump to US$27 billion by 2017, signalling massive potential for investors.
If you are involved in the wine trade, there is no better time to invest in Hong Kong. For valuable information and support, contact InvestHK’s Tourism & Hospitality team.
Restaurants and Bars
Hong Kong’s restaurant and bar scene is thriving. The city has 3 of the World’s 100 Best Restaurants 2015, as compiled by Restaurant magazine, more than any other city in Asia. With a local population that loves to dine out and high levels of business entertainment, there is a buoyant market for restaurants at every price point. The launch of the Hong Kong and Macau Michelin Guide has also strengthened Hong Kong’s attraction as a culinary destination. A number of world-class industry events are also hosted in Hong Kong, for example Wine & Dine Festival and Vinexpo.
InvestHK’s Tourism & Hospitality team can provide advice and practical support to companies setting up in Hong Kong. Contact us to find out more.
Food Trading and Distribution
Renowned as the culinary capital of Asia, Hong Kong boasts around 8,500 restaurants in the city. With dining out a regular pastime for local residents and a growing number of international visitors, there is no better place than Hong Kong to showcase and develop your exciting food and beverage concept.
Hong Kong’s high number of international and Mainland Chinese visitors means excellent brand exposure. Its combination of a skilled workforce, strong intellectual property protection and pro-business regulation makes it the ideal launchpad for brands targeting the Chinese and Asian markets.
The best way to find out about food trading and distribution opportunities in Hong Kong is to contact InvestHK’s Tourism & Hospitality team.
- Restaurant receipts in Hong Kong are rising, thanks to record visitor numbers and a local population that loves to dine out
- Hong Kong is the world’s number one wine auction centre
- It is Asia’s leading wine hub, with world-class logistics and storage facilities
- Wine and beer are exempt from duty, and import and export are hassle-free
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