Hong Kong’s economy revived with a 6.4% rise in 2021, but strict measures to fight the pandemic impacted the benchmark Hang Seng Index. Under such mixed circumstances, the combined wealth of the city’s 50 richest dipped slightly to $328 billion from $331 billion last year.
Macau’s casinos face a long road to recovery. Even when travel curbs are fully lifted, high rollers from mainland China are unlikely to return in force amid a government crackdown on illegal cross-border gambling.
The February/March issue of Forbes Asia magazine's cover story charts the rise of ESR chair Jeffrey Perlman as he bulks up on properties supporting the digital boom, while the annual list of Hong Kong's 50 Richest also saw an uptick in real estate fortunes.
The business metaverse, the digital twin of the physical world, is unsurprisingly dominated by large enterprise tech companies. But the consumer metaverse's 3D world is where the hype is at, and Asia's tech firms and their young fans are leading the charge.
Fresh from a pivotal deal that transformed ESR into Asia’s largest property manager, chairman Jeffrey Perlman is bulking up on the physical assets that power Asia’s digital boom such as data centers, logistics hubs and warehouses.
After last year’s dip, Indonesia’s GDP growth is on track to recover to pre-pandemic levels. But the country isn’t over the hump yet: Strict lockdowns slowed economic momentum in the third quarter while the government grapples with a surge in Covid-19 cases.