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Ronald Chan
Opinion
Ronald Chan

How deeper ties with Monaco can help Hong Kong make waves

Collaboration with the principality, a magnet for millionaires, can boost Hong Kong’s blue and yacht economies and attract high-net-worth individuals

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Yachts are seen docked at the Monte Carlo harbour in Monaco, on May 21. Photo: AFP
Ronald Chan
Ronald Chan is the founder and chief investment officer of Chartwell Capital Limited, a Hong Kong–based asset management company.

Think of Monaco: a glittering harbour, vibrant city, global icon and financial hub. Sound familiar?

I have always been fascinated by the similarities between Monaco and Hong Kong. Today, I see an exciting future amid the fast-growing opportunities developing for Hong Kong thanks to our increasing economic, financial and cultural ties with the principality. From capital flows and marine infrastructure to yacht tourism, trade and ocean research, a deeper alliance between Hong Kong and Monaco could unlock unprecedented value for both.

We share striking similarities as compact, prosperous cities with high-density populations and strong global economic ties. We have high gross domestic products per capita when compared globally, enjoy extensive investment flows and serve as major hubs for finance and inbound capital. We are influential far beyond our geographical footprints.

I have spent a good deal of time with senior representatives from the Prince Albert II of Monaco Foundation this year and am pleased to be part of the fast-growing dialogue between Hong Kong and Monaco. I see three primary opportunities for Hong Kong in the next few years.

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