Published on December 19, 2014
A former British colony and currently a special administrative region of China, Hong Kong is known as a place where “East meets West.” It has evolved from being a first trading point for local fishermen and British sailors, into a dynamic economy which uniquely combines the best of both worlds.
Hong Kong’s capitalist economy, with its free trade and low-tax policies and its proximity to the largest Asian market, makes this city a lucrative place for multinational companies to establish their regional headquarters and for investors to explore their opportunities in the area.
Hong Kong is the service capital of Asia, leading in well-established service industries such as advertising and marketing. There is a great range of services available in the city, including market research, advertising campaigns, brand consultancy, and public relations.
The highest demand for these services comes directly from the neighboring Chinese mainland, making it the major income source of Hong Kong’s marketing exports. According to ZenithOptimedia, China ranked third in advertising expenditure in 2013. The Closer Economic Partnership Arrangement between the two regions has given Hong Kong permission to establish marketing and advertising facilities in mainland China. The increasing number of foreign multinationals entering the region has also fueled the demand for more aggressive marketing campaigns to capture the attention of local consumers and tackle the competition.
Additionally, the popularity of mobile devices in Hong Kong has led to an incredible potential for digital advertising. Statistics by Econsultancy showed Hong Kong as having one of the highest rates of mobile penetration in Asia (228%) and more than 16 million active subscriptions. Hong Kong consumers are also avid users of the Internet, which makes this region-- as well as neighboring mainland China-- great audiences for marketers to reach using e-marketing tools.
Internet users in Hong Kong absolutely love instant messaging (taking up 16% of the average user’s time spent online), watching online videos (10.7% of time spent online), and social networking (7.7% of time spent online). Notably, unlike in China, the use of Facebook is very popular among Hong Kong residents; in fact, it is the second most popular website there after Yahoo.
Overall, a multichannel approach involving both traditional and digital medias, although requiring a lot of work and resources, has proved to be the most effective way to interact with customers in Hong Kong. As the Managing Director at Experian Marketing Service for Asia Pacific, John Merakovsky, noted in an article published on Media Buzz: “A multichannel marketing approach is not a one-size-fits-all solution. Marketers should think about their cross-channel strategy and how they can create and stimulate a dialogue that engages consumers and encourages them to convert.”
So, what makes Hong Kong such a promising destination for completing a marketing internship?
1) With a diverse demand for marketing services, companies are looking for new international-talent to join their forces.
2)This well-developed industry offers a strong network of specialists and accessible market research resources.
3)As communication is a key component of any marketing strategy, having English as one of the official languages of the region definitely makes Hong Kong a “pearl of the Orient” for aspiring marketers of any level of experience and background.
Apply now to gain the chance to intern with a top PR & Marketing firm in the booming economy of Hong Kong!
Photo 1. based on by Start Up Stock Photos, CC0