Ranked as the 18th smartest city in the world, Hong Kong seems to have lagged behind its global peers when it comes to efforts in digital transformation. One reason could be that Hong Kong’s long period of prosperity, through its reliance on property and financial services industries, has bred a certain level of complacency, making it less dependent on economic diversification and technological innovation.
But things are changing, with the government's launch of the "Smart city blueprint for Hong Kong" in 2017, backed by HKD 50 billion in 2018 for innovation and technology development.
The increased connectivity and integration with Shenzhen and other cities within the Greater Bay Area could potentially accelerate Hong Kong’s technological advances. CIO believes Hong Kong has the necessary government support, funding, and infrastructure to drive large-scale digital transformation within just a few years.