Hong Kong's Year of Rebuild

As I continued coming to Hong Kong, even during the pandemic lockdowns, I could now feel the optimism of an awakening city after hard years. Troubles started in 2019 with violent riots on the streets and then two years of being literally cut off. Still, crossing over to the Mainland, has some quarantine regulations in place, as the situation there is different due to the sheer size of the population and structure of the medical system. It is, of course, still hard for Hong Kong not to be fully connected to the mother province Guandong. But at least for travellers arriving from other parts of the world, arrangements for testing have substituted the quarantine requirements. I personally found this very well organized. Still, shopkeepers told me that with the Euro and the British Pound down against the US$-pegged HK$, European visitors don’t spend. US-Americans are rare these days. So, it will still need Mainland tourists to come. Even they may actually choose to travel elsewhere once this is possible again.

Also, the troubles of 2019, where protests escalated into full-blown riots, disappeared. This is partly because of recent changes in security laws. Some say they are now too strict. But having been here during the peak of rioting in 2019, I am not surprised by such a legal tightening. Also, many have been lured away by the British offer to extend some of their rights in the UK if they hold a British Oversea Passport. I think this is really difficult and mainly plays into the British playbook of getting a (cheap) workforce and money into the country. Still, I wish those who went all the best. In any case, Hong Kong has become stable and safe again, and I am convinced the “Year of Rebuild” will show once again the resilience this city has. Perhaps I even made a small contribution by teaching a skill-based MBA course on Turnaround Management and Corporate Resilience at the University of Hong Kong Business School.

As I have to scale down my own University engagements, this year’s hike on Lamma Island also marked the end of my academic decade. It all started in 2006 when I set foot for the first time on the Island and immediately loved it. For five years, the island became my home in the South China Sea. I should perhaps have never left it. Of course, I will continue teaching Masterclasses and Executive Education also in the future. But it’s now time, again, to get back to business.