Kowloon, Hong Kong » City Info » Economy

Kowloon is the peninsular part of Hong Kong located across Victoria Harbour. The district is featured as a service-oriented economy and has a well-established international financial market.

Since the 1950s, Kowloon has become an industrial centre, especially for textile manufacturing. In Kowloon, compared to Hong Kong, the buildings are more authentic, the streets are less luxurious, and the prices for food, hotels, and shopping are lower.

The currency adopted here is the Hong Kong dollar, which is pegged to the US dollar. And, the district enjoys economic strengths and is a favourable destination for international firms.

In terms of demographics, Kowloon is one of the most populous urban areas in Hong Kong. The residents are of Cantonese ethnicity and use Cantonese as their everyday language. English and Mandarin are also in customary usage.

Kowloon is accessible by ferry (Star Ferry), train, taxi, helicopter, and bus. And, to travel within the city - public transport is well-established.

One of the major pillars of the economy of Hong Kong (inclusive of Kowloon) is the tourism industry. In 2016, the tourism industry contributed to around 5% of Hong Kong's GDP and employed over 200,000 people, accounting for about 7% of the total employment.

The economic future is prone to challenges of economic globalisation and direct competition from cities in mainland China. Over the years, Kowloon has transformed into a lively district with modern well-blended facilities with traditional ethos, making it a go-to destination.