Hong Kong recently played host to this year’s Leaders of Luxury Summit which was held at the Regent Hong Kong from 26 to 28 November. 

Organised by Robb Report Hong Kong, the summit brought together luxury industry titans to discuss pivotal topics that Redefine Luxury Through a Global Lens. 

According to the 2024 Billionaire Census report from Altrata, the city currently ranks second in the world with the highest number of billionaires resident. 

The city is expected to have 22.4 percent more ultra-high-net-worth individuals (UHNWI) by 2028, the second highest growth rate globally, according to the Knight Frank Wealth Report 2024.

Hong Kong Tourism Board (HKTB) chair YK Pang remarked at the Summit: “As the main growth engine of the global luxury market, the Asia-Pacific, including Mainland China, presents immense opportunities. China alone is projected to account for 25 percent of worldwide luxury sales by 2025. For luxury brands, Hong Kong serves not only as the ideal springboard into this rapidly expanding market, offering a platform to connect with discerning consumers across the region; it is also a powerful magnet attracting all those discerning consumers and HNWI, who live the luxury lifestyle.”