The Causeway Bay district serves as the center for shopping, dining and nightlife in Hong Kong.
Every weekend, a minimum of 400,000 shoppers visit the area from all around the world. The rent of shopping areas in Causeway Bay is ranked as being one of the highest in the world, near that of London's Sloane Street and New York's 5th Avenue.
Hong Kong has long been a sophisticated and cosmopolitan city. With many famous galleries and auction houses like the world-renowned Gagosian Gallery, White Cube, Sotheby and Christie’s, already located in Hong Kong. Hong Kong has become a major hub for international collectors.
The Hong Kong Government’s aspiration for the arts is best illustrated by the West Kowloon Cultural District (WKCD) initiative. With an earmarked budget of HKD 21.6 billion (USD 2.8 billion), the 40-hectare complex intermingles commercial and residential space with museums and theaters, a project that the government plans to complete by 2031.
Hong Kong is currently the world’s leading art market by auction turnover and there is no tax on the import and export of art (in contrast to mainland China, where there is a tax of 34% on the sale of any imported art work). With its shared history with the West, Hong Kong is a place where people from all parts of the world feel equally at home.