Millionaires are leaving Hong Kong, but its art scene is booming

The number of millionaires in Hong Kong has fallen by 4% in the last decade, according to Henley & Partners’ World’s Wealthiest Cities Report. However, one sector in the city is showing great promise – art. The Hong Kong Art Gallery Association recorded a 27% increase in member galleries between 2021 and 2023 and the world’s largest auction houses are upsizing to meet demand. CNBC spoke to rising artist Mak2 at Art Basel Hong Kong to learn more. #CNBC #ArtofAppreciation #HongKong #Art ----- Subscribe: http://cnb.cx/2wuoARM CNBC International TV: https://cnb.cx/2NGytpz LinkedIn: https://www.linkedin.com/showcase/cnbc-international/ TikTok: https://www.tiktok.com/@cnbci Facebook: https://www.facebook.com/cnbcinternational Instagram: https://www.instagram.com/cnbcinternational/ Threads: https://www.threads.net/@cnbcinternational X: https://twitter.com/CNBCi Telegram: https://t.me/cnbci WhatsApp: https://bit.ly/CNBCiWhatsApp