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 centred on textile manufacturing. The city also rivals Victoria as a tourist destination. In the Kowloon side, the tourists will find that the buildings are more authentic than the Hong Kong side, and the streets are less ritzy, and the prices for food, hotels, and shopping are a lot cheaper. 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 has a population of over 2.1 million, which makes it one of the most populous urban areas in Hong Kong. The residents are of Cantonese ethnicity, and use Cantonese as their usual 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-suited.

One of the major pillars of the economy of Hong Kong [inclusive of Kowloon] is the tourism industry. And, in 2016, the industry contributed to around 5% of Hong Kong's GDP and employed over 200,000 persons, accounting to about 7% of the total employment.

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