HONG KONG – Swiss bank UBS has revised up its 2026 economic growth forecast for Hong Kong to 4.5 percent from a previous projection of 3.3 percent, citing steady growth momentum.

The bank said on Monday that Hong Kong's high-value-added exports are expected to continue taking the lead through the rest of the year, while financial market activity will remain resilient and domestic investment will improve.

Private consumption will expand at a steady pace, with further recovery in tourism supporting services exports, the UBS added.

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Noting that Hong Kong is formulating its first five-year plan, the UBS said the blueprint will be key to unlocking new growth potential.

Successful planning and implementation of the plan will help stabilize growth across business cycles and enhance its underlying trend growth over the medium to long term, the bank said, adding that support from the central authorities will also continue to bolster Hong Kong's growth ahead.

Official data showed that Hong Kong's gross domestic product grew 5.1 percent year-on-year in the first half of 2026, beating market expectations.