Singapore to be world’s richest country by 2050. Centa-millionaires in Asia will continue to outnumber those in North America and Western Europe by 2050, a Knight Frank and Citi Private Bank study showed. Singapore, Hong Kong, Taiwan and South Korea are projected to be the world’s richest countries on a per capita basis by 2050. … Read more
Officially certified Japanese Kobe beef, the rarely exported luxury Japanese culinary delicacy, can now be found in Hong Kong. Hong Kong is only the second foreign market after the nearby Macau to have the permission to import the renowned Kobe beef, a meat with buttery taste and a marble-like texture that melts in your mouth. “The … Read more
Chinese buying more luxury goods at home: survey Chinese shoppers are increasingly buying luxury goods in mainland China, turning away from high-end stores abroad and in Hong Kong, according to a poll by market research firm Ipsos, cited by AFP. The poll found that Chinese buyers preferred to shop on the mainland for luxury … Read more
Top 20 global retail rental markets: Hong Kong is the world’s most expensive shopping destination as significant inbound tourist flows and continued increases in domestic wealth fuels occupier demand from international fashion and luxury retailers, according to new research from global property advisor CBRE Group. The CBRE rankings of prime global retail rents saw … Read more
To gauge which cities are considered the most important to the world’s high-net-worth individuals (HNWIs), Frank Knight’s “Wealth Report 2012” surveyed Citi Private Bank’s wealth advisors around the world and Knight Frank’s global network of luxury property specialists. The survey asked which are the most important cities to their clients now, which will be the … Read more
Italian fashion house Prada reported a 2011 net profit of 431.9 million euros beating a Thomson Reuters forecast of 415.83 million euros, annouced reuters. Prada posted a 72 percent rise in full-year net profit. Prada’s shares listed in Hong Kong have gained 41 percent since the start of 2012. Milan-based Prada is seen as … Read more