The setup of HK Ambassador Club comes as a strategic move, but what more can be done?

The launch of the Hong Kong Ambassadors Club (HKAC) has stirred up conversations within the marketing industry as to whether the club can promote Hong Kong as a global financial hub effectively, and if more private entities can play a part in contributing to the hub.

The hub, co-founded by lawmaker Jeffrey Lam and chairman of Tsangs Group Patrick Tsang, HKAC seeks to connect industries across numerous ecosystems starting with the Middle East, to build stronger economic and investment partnerships for the business community in Hong Kong.

The club stated that it is dedicated to collaborating with global investors and the international business communities to engage global brands to host influential events in Hong Kong. The club is also planning to organise bilateral trade business and investment delegation visits among strategic markets for Hong Kong such as the Middle East, Southeast Asia and the Greater Bay Area, and facilitate partnerships and collaborations between the senior leaders in the public and private sectors among the regions.

Don't miss: Hong Kong Ambassador Club set to strengthen investment partnerships in HK

HKAC was officially inaugurated on 22 March in the Four Seasons Hotel amid the presence of Hong Kong's high-level officials, business leaders and consul generals and the representatives. Since the official inauguration, media intelligence firm CARMA saw an increase in mentions of HKAC, with the volume of mentions expectedly peaking on 23 March. Majority of the mentions were positive and optimistic about the launch of HKAC and its plan to promote Hong Kong as a global business hub. In the last 30 days, there were a total of 53.3% positive mentions related to HKAC.

It is worth noting that the positive sentiment surrounding HKAC is not limited to the local media in Hong Kong, with mentions in international media having been on a rise, said CARMA’s HK GM Charles Cheung. “Most media mentions were in Hong Kong, followed by the United States and Saudi Arabia. This suggests that HKAC's launch and its plans to promote Hong Kong as a global business hub have caught the attention of investors and business professionals worldwide,” he added.

This is the first time the city has launched an official ambassador club designated for engaging with international business community and global investors since the lifting of covid restrictions across the borders between Hong Kong and international countries. 

Commenting on the move, David Ko, managing director of RFI Asia told MARKETING-INTERACTIVE that the establishment of the HKAC is a strategic move, as the business-led initiative indicates that the private sector is stepping up to promote Hong Kong instead of solely relying on the government.

The club's collaboration with global investors and international businesses to host influential events in Hong Kong, has the potential to positively impact the region's reputation and prominence.

Agreeing with his view was Vin Ng, director of Spread-it, an agency which is specialised in influencer marketing and branding, who said it is no surprise to see more and more clubs being set up as Hong Kong’s main focus remains on building its economy and tourism after years of covid isolation.

“With the club, it would help promote the business community in Hong Kong, and with the economy on the road to recovery, I believe that there sure to be positive influence on the market,” he added.

Considering the opening of borders, it’s great to have another entity to enhance Hong Kong's efforts in promoting the city to potential markets, added on Yvonne Ma, founder and managing director of Eighty20. Ma and her team provides digital solutions for global governments. Ma added, "This strategic move can yield significant benefits and drive growth for our business." 

Moreover, given the fierce competition from Singapore, it is imperative that Hong Kong returns to the forefront of the global stage swiftly and effectively. "To achieve this, we must attract more international events to our city, which will not only drive traffic but also bolster our reputation as Asia's world city. Therefore, we must prioritise this initiative and take bold actions to ensure its success," she added. 

While the club definitely has its strategic benefits, it also needs to earn its reputation to ensure the creation of international business opportunities. Kate Kwan, general manager of PR agency TEAM LEWIS Hong Kong, said given its status as a quasi-government agency, it is much more of an economic-friendly move given the club doesn’t wear the official "hat" that comes with stricter boundaries when it comes to balancing conflicts, allowing it to maintain a neutral position.

It is still early days to assess its influence, however, the club could be a useful avenue for the commercial sector to gather intelligence, knowledge and investment sentiment globally.

At the same time, Hong Kong still possesses advantages in attracting investors both from a business expansion and investment perspective, especially for those who are keen to pursue a Greater China proposition, explained Kwan. 

Not forgetting the China factor

While setting up a specific club might work on promoting Hong Kong’s culture and spirit, experts agreed that at the day, the success of the club will depend on the effectiveness of its initiatives, the quality of the events hosted and the level of engagement with global investors and businesses.

Hong Kong should keep capturing far more equity business than Singapore in the next five years due to the China factor. 

On the agency front, Eighty20's Ma said the agency has been approached by global businesses and tourism brands for a variety of services, including basic digital marketing needs to comprehensive brand refreshing campaigns for the Greater Bay Area. "Therefore, we are confident that global investors remain interested in Hong Kong's dynamic and inclusive market. However, we must also recognise that the focus may not be solely on Hong Kong, but also on the GBA region as a whole," she added. 

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