Due to its superior connection and affordable taxes, Hong Kong has been recognised as one of the world’s top markets for data centres, but it still lags behind Singapore in the area. Hong Kong improved from sixth place last year to fourth place this year in Cushman & Wakefield’s annual ranking of global cities’ data centre developments, thanks in part to Hong Kong’s strong fibre-optic cable density and quality, consistent demand for and availability of cloud services, and its business-friendly tax structure.
Singapore, which has a bigger market than Hong Kong and even better fibre access, came in third on the firm’s list. Although Beijing and Shanghai are leaders in terms of market size and fibre connectivity, they did not make a list’s top 10 data centre markets. Growth in the digital economy during Cvid-19 has led to a boom in demand for data centre providers in Hong Kong.
By 2025, it is anticipated that Hong Kong’s data centres’ total gross floor space will increase by 30%, and by 2024, the Asia-Pacific data centre market will be worth US$28 billion. To keep its position as a top market for data centres, Hong Kong must overcome specific obstacles like an out-of-date local data regulation system and a complex web of data security standards proposed by Beijing.
