Forget the negative headlines and the whispers. Amid all the noise and speculation, Hong Kong is quietly reemerging as an enticing destination for global talent. This vibrant city, renowned for its neon lights and towering skyscrapers, is undergoing a remarkable transformation. It’s shedding its old image and embracing a new identity that beckons the world’s brightest minds to take a second look.

Hong Kong, a cornerstone of international commerce for decades, recently solidified its growing appeal to the world’s most skilled individuals with the successful hosting of the inaugural Global Talent Summit. Over two dynamic days, the summit brought together over 1,200 participants — government representatives, leading academics, enterprising business people, and talent agents — all united by a singular objective: solidifying Hong Kong’s position as a premier global talent hub. Chief Executive John Lee Ka-chiu declared it loud and clear: Hong Kong is a world-class city, an economic powerhouse, and the only place where “China and the world meet”.

Now, some might scoff. Isn’t Singapore the new darling of Asia? Don’t get me wrong, the Lion City has its charms. But here’s the thing — Hong Kong isn’t trying to be Singapore. It’s leveraging its unique identity, a potent blend of East and West, to carve its own niche. While comparisons with Singapore are natural, Hong Kong offers distinct advantages. David Cardwell, pro-vice-chancellor (strategy and planning) of the University of Cambridge, highlighted the unparalleled access that Hong Kong provides to the vast resources of the Chinese mainland, particularly the burgeoning Guangdong-Hong Kong-Macao Greater Bay Area.

Consider this: Hong Kong offers the familiar comforts of a well-established international hub, boasting top-notch financial services, a legal system based on British common law, and widespread usage of English. However, it also presents an unparalleled advantage — the dynamic energy of the Chinese mainland at its doorstep. It’s like having the best of both worlds: the stability and transparency of a developed economy combined with the boundless opportunities of a rapidly expanding giant.

As a native of Hong Kong, I have witnessed firsthand the city’s dynamism. We are fortunate to have several world-class universities catering to a population of just over 7 million. Professionals seeking growth will find a well-established international hub for finance, trade, and shipping, complemented by top-tier legal and accounting services. Entrepreneurs can leverage Hong Kong’s launchpad advantage and seamlessly expand into the mainland market. The opportunities for professional and personal growth are truly boundless.

The results of Hong Kong’s talent attraction programs speak for themselves. With nearly 180,000 approved applications, over 120,000 talented individuals have already chosen Hong Kong as their new home. The Top Talent Pass Scheme (TTPS) has been particularly successful in attracting graduates from prestigious global universities. These individuals are not just fresh-faced graduates; they are experienced professionals with families, bringing with them their valuable skills and significant purchasing power. It’s worth noting that the median monthly income of TTPS participants is impressive, with a substantial portion earning well into six figures.

Hong Kong is not just a city; it is a springboard to boundless opportunities. It is a place where you can launch your career, cultivate your business, and immerse yourself in a captivating culture unlike any other

Beyond the professional sphere, Hong Kong’s lifestyle elevates its attractiveness as a talent magnet. It offers the perfect blend of urban excitement, with its dazzling skyscrapers and bustling streets, alongside breathtaking natural beauty — pristine beaches, invigorating hiking trails, and serene mountain areas. This city caters to diverse tastes and offers a true haven for a well-rounded life.

The impact on the economy is undeniable. Estimates suggest that the TTPS alone could generate an astonishing HK$34 billion ($4.35 billion) annually. However, it’s not just about the numbers. These talented individuals are the driving force behind innovation and the catalysts for a thriving economy.

Critics may argue that Singapore offers a more “stable” environment. However, it is important to consider that stability can sometimes lead to stagnation. Hong Kong, with its deep-rooted connection to the Chinese mainland, is at the forefront of a rapidly evolving market. It is a place where you can actively participate in shaping the future, rather than merely reacting to it.

And it’s not just my opinion. Affluent individuals across Asia are taking notice. Recent surveys indicate that a significant majority consider Hong Kong to be the most desirable place to live in the region, surpassing other popular cities such as Singapore and Seoul.

Certainly, Hong Kong has faced its fair share of challenges. However, the beauty of this resilient city lies in its ability to learn, adapt, and emerge stronger. The current administration is unwavering in its commitment to attracting and retaining talent, implementing initiatives such as streamlined visa processes and co-investment funds for businesses.

Hong Kong is not just a city; it is a springboard to boundless opportunities. It is a place where you can launch your career, cultivate your business, and immerse yourself in a captivating culture unlike any other. So the next time you hear whispers about Hong Kong, take a second look. The future is bright, and it is being shaped by some of the world’s brightest minds right here in the dynamic heart of Asia.

The author is chairman of the Asia MarTech Society and sits on the advisory boards of several professional organizations, including two universities.

The views do not necessarily reflect those of China Daily.