InvestHK makes city’s cultural hub a magnet for global artists, enthusiasts and collectors

Well-planned initiatives to establish Hong Kong as a global arts hub have paid off in the past few years, with the city now home to an impressive number of top-flight galleries, auction houses, popular museums and outdoor installations, as well as large-scale annual events such as Art Central and Art Basel Hong Kong.

The West Kowloon Cultural District, a vibrant cultural quarter built on 40 hectares (100 acres) of reclaimed land, has also garnered international attention with signature facilities such as Hong Kong Palace Museum, home to more than 900 priceless Chinese treasures from Beijing’s Palace Museum, M+ contemporary art museum and the Xiqu Centre, which serves as a world-class performance venue promoting Chinese traditional theatre and Chinese opera.

Their presence has helped to create a truly vibrant cultural scene, which has become a magnet not only for artists and enthusiasts, but also for private collectors and high-net-worth individuals (HNWIs) looking for an eye-catching work or astute investment.

According to the “World Wealth Report 2024”, published by business technology consultancy Capgemini, Asia-Pacific is home to 7.4 million HNWIs. Hong Kong is well placed to provide access to these potential buyers.

For fine art connoisseurs, the city offers a distinct range of advantages. On the one hand, there is the unique and exciting blend of cultural influences on show, embracing different styles, visions, mediums and modes of expression.

On the other, there is Hong Kong’s strategic location and proven ability to meet all the practical needs of those operating in the international art market. These include great facilities and exhibition spaces, but also specialist financing, tailor-made insurance, secure storage and the expertise to ship fragile, high-value consignments as and when necessary.