After Hong Kong relaxed its compulsory quarantine requirements in late September, inbound travellers no longer need to go through hotel or home quarantine, but only 3 days of medical surveillance, during which they can go to work or school. What does the new 0+3 model mean for your business, as the city finally opens its doors to the world?
Lifting of quarantine requirements: Welcome back to Hong Kong
After 2.5 years of COVID-19, Hong Kong is finally lifting its quarantine requirements and bringing back iconic events like Hong Kong Rugby Sevens tournament, Global Financial Leaders’ Investment Summit and Hong Kong FinTech Week.
Shortly after the easing of quarantine rules, Hong Kong sees a 31% month-to-month increase in airport passenger traffic, and expects 22,000 participants at the 2 major financial events taking place in early November.
Though how things play out remains to be seen, “Asia’s World City” has not lost its appeal as a unique “gateway to China and China’s gateway to the world” — Hong Kong’s close proximity to China still provides easy access to the Greater Bay Area.
UK asset manager abrdn concurs that Hong Kong will “always be important” to firms hoping to access the China market — via Hong Kong Stock Exchange’s Bond Connect, Stock Connect and its newer cross-border connect schemes.
For other non-financial businesses, China is the world’s second-largest consumer market. Countless of them have now opened a business in Hong Kong, and the lifting of quarantine requirements will only mean it’s easier to set up in the city.
New opportunities abound under the new 0+3 plan
The end of hotel quarantine in Hong Kong also comes at a time when you can save on business startup and office rental costs — as the pandemic calls for a seismic shift in the way we work.
In Hong Kong, remote and hybrid work policies have prompted corporates like DBS Group, BNP Paribas, Standard Chartered, Expedia and British Telecom to move from traditional offices in Central Business Districts to coworking spaces in various accessible locations.
This not only allows you to reduce overhead and enhance flexibility, but also avoid long-term lease commitments. For one, Standard Chartered reportedly saved USD 770,000 monthly by trading eight floors in Central for flexi-working offices for their 6,000+ employees.
As such, if you’re looking to enter into the Hong Kong market or further expand into the vast Chinese market under the new 0+3 plan, renting a coworking office can help you cut your operating costs significantly. This is particularly true of startups and small businesses.
By turning to coworking and hot-desking, you’re also propelling your business into the future of work — most coworking spaces are intelligently designed for you to stay connected, motivated, productive and innovative.
At WeWork Hong Kong, we redefine the workplace of tomorrow. Our modern, flexible and inspiring coworking spaces in six prime locations offer open blended workspaces that inspire creativity and foster connections with thoughtful office amenities and smart tech integration.
Explore our range of business solutions, from serviced to private offices for teams of different sizes. Our move-in ready spaces can be tailored to your needs — whether it’s branding the spaces with your company logo, or creating new rooms suited to your functional needs.
WeWork Day Pass is also available for businesses to arrange office spaces or meeting rooms for their employees freely and flexibly — whenever and wherever they want. This is a pay-as-you-go daily WeWork membership option valid across all of our locations in Hong Kong.
What the latest WeWork promotion offer can do for you
In the wake of the axing of quarantine requirements and the launch of 0+3, we’re here to help businesses and entrepreneurs to grow and expand with our latest WeWork promotion, “Revitalise Your Business”.
Become a WeWork member by 30 November 2022 and start a private office in Hong Kong to enjoy our member benefits and privileges. Plus, you can even enjoy 2, 5 or 8 months of free access if you sign up for 6, 12 or 18 months of WeWork membership accordingly.
If you’d like to grow your business in Hong Kong and explore how you can enjoy access to our workspaces, connect with us today to find out more.