Wealthy Hong Kong Citizens Prioritize Travel Over Real Estate: A Paradigm Shift in Life Goals

For affluent Hong Kong residents, the allure of real estate doesn’t hold the same level of appeal as it once did, according to a recent study. Interestingly, travel appears to be taking precedence over traditional investments like property. Only a quarter of those surveyed ranked buying a house as a significant life goal, putting it in seventh place.

Travel as a Form of Investment

The study interestingly revealed that immersive travel experiences were a priority for almost half of the wealthy respondents, ranking second only to early retirement. The study polled 1,058 affluent Hong Kong residents aged 30 and above, each with at least HKD1 million of investable assets.

The report revealed that for a majority of high-net-worth individuals (HNWIs) polled, travel was not just a leisure activity but a means to “build intangible capital, broaden outlook and sustain long-term well-being”. This sentiment was shared by almost three-quarters of the HNWIs who took part in the survey.

Among wealthy parents, there was a clear trend towards valuing overseas travel as a significant component of their child’s educational investments. It was considered more valuable than tutoring or extracurricular activities.

The Waning Influence of Real Estate

Despite the shifting perspective towards real estate, it’s important to acknowledge the historical importance of the sector for Hong Kong households. In the early 21st century, real estate contributed to more than 30% of the city’s GDP. However, it’s influence has been waning, declining to about 21% in 2021.

As affluent residents shift their financial focus towards travel, the amount they are willing to spend on it is rising. On average, HNWIs planned to spend HKD345,000 on travel this year. This figure is significantly higher than the average of all respondents, though it falls below the peak recorded in 2024 when post-pandemic outbound tourism was notably popular.

Furthermore, two-thirds of HNWIs reported that their travel expenditures exceeded their daily living expenses, including dining, entertainment, and other forms of lifestyle consumption.