Is Hong Kong the Next Study Destination for European MBA Students?
Mattia Palesa started his entrepreneurial journey at a tech company that worked in price comparison between grocery stores in Malaysia. He completed his MBA from The Chinese University of Hong Kong (CUHK), nestled in one of Asia’s financial hubs: Hong Kong. The degree gave him a competitive edge over other European MBA programmes in the realm of entrepreneurship.
MBA in Hong Kong: A global perspective
“Going global” is, undoubtedly, the new buzzword in today’s world of business practices. In the recent past, companies with growth aspirations viewed globalisation as a tool to get into international markets – but now it is no longer considered an option. Rapid technological advancements and mammoth innovations in this field resulted in unprecedented business growth and expansion without boundaries, making globalisation imperative. When we talk about this cutting-edge technological innovation along with multiculturalism and globalisation, the Asian business landscape cannot be overlooked.
With Asia’s significant technological growth, grad schools like The Chinese University of Hong Kong (CUHK) have also evolved. With a global mission to provide excellent learning experiences and opportunities for growth and development, CUHK motivates global business professionals. As CUHK student Mattia Palesa tells us, “I chose CUHK because I wanted to be closer to the Chinese environment and closer to the real understanding of the Chinese economy. I also didn’t want to move to China, as I wanted to live in a more western city with my family, so I wanted to be in the middle, between this technological wave coming from China and the western city [of Hong Kong].”
Hong Kong as a study destination is considered to be one of the best in Southeast Asia. It is multicultural, containing a great fusion of Chinese and English culture with an essence of the local culture and customs. Mattia is particularly attracted to this aspect. He says, “[Moving to Hong Kong] was a life-changing experience. I wanted to be out of my comfort zone and [I] also wanted to be closer to the financial hub and the multi-ethnical city [with] a lot of Indians, lots of Chinese, and expats. I also wanted to be closer to a tech area, and Hong Kong is the perfect area to be in [the] early stage of your career.”
East meets West
According to a Global Innovation Index report 2022, China is nearing the top 10 of the most innovative economies in the world. This report also includes the biggest science and technology innovation clusters in the world with the highest number of inventors. In 2022, Tokyo-Yokohama is acclaimed as the top science and tech hub in the world. Shenzhen-Hongkong Guangzhou, Beijing, and Seoul followed next.
According to Mattia, Asia is really “catching up” with the west. “I do feel that Asia is catching up in terms of universities and academic degrees with the west, especially with the US. [But] we also need to look at what our interests are,” he says. “If we are interested in fintech or in IT, I think Asia is the right place to be. The US was the right place to be 10 or 15 years ago but right now we need to look at the current technologies, we need to look at the current investors because [it’s] the investors who are changing the entire trend. So, we need to be able to look at what drives the business and I do feel that right now Asia is still the best place to be if we want to develop our career in tech.”
Asia is surely leading global growth. According to the United Nations Conference on Trade and Development World Investment Report, published in June 2022, Asia hit a record US$619 billion in foreign investments in 2021. A region with such promising economic growth is sure to be the hub for prospective MBA students wanting to focus their careers in finance and technology. For Mattia, it was no different. While talking about his clear reasons to choose Asia over the US, he tells us, “I wanted to be a part of something that is growing. For most of the American universities, the growth is stagnant. They are not using all of their potential – but Hong Kong is the perfect combination because it’s a western city in a Chinese environment. We are receiving a lot of technological waves from China and also it is the right place to start a new business.”
Capitalizing on the wealth of opportunities
Professionals and entrepreneurs who have recognised the potential of Southeast Asia have their eyes on Hong Kong, particularly grad schools like CUHK, which is a great amalgamation of professors par excellence, a global network, and multiculturalism. Mattia believes that in order to grow as a professional in the tech industry, it is not only important to think beyond borders but also to focus on the growing market. On the focal points of the CUHK MBA programme Mattia mentions three factors: “Networking, excellence in terms of professors, and the great ecosystem of startups. Hong Kong is the right place to be if you want to start your own business or if you want to be a part of any tech organisation.”
To Mattia, who is now working as a Senior Product Owner at HelloFresh, being accountable is of great value. He really wants to be a part of something bigger and make a difference. At CUHK, he has learned how to think big and how to be passionate about bringing sustainable change to society around us. He shares, “For every step in my career, I need to be passionate and I have learned this from CUHK. I really need to see value in what I am working on. At HelloFresh, we are dealing with food [which] is one of the main disruptors in the next 10 years also [in] reducing waste, which is also something that I am really passionate about.”
A global MBA teaching global competitiveness
As an entrepreneur, we look out to the world of champions and long to be like them. We try to make ourselves stronger in order to overcome adversities at all levels and look for diverse ways to be successful. Most importantly, we learn not to give up. In all these efforts to reach new heights, an MBA plays an important role.
For Mattia, the CUHK MBA helped him grow as an entrepreneur. He emphasizes two of his main takeaways: “One is the Chinese mentality of doing business and on the other side, the US was really important to me because I really understood how to [do] business with investors, how to prepare an elevator pitch… Looking at myself four years ago [and now after the CUHK experience], I can really see the growth and I can also see how I interact with people. Right now, I really feel that mentorship was one of the great services provided by CUHK.”
MBAs can be life-changing and give you the vision to change the world. MBAs can also inspire and unite people from all across the globe. Programmes like the ones at CUHK are more powerful than just a mere academic degree; they break down world barriers.
This original article was published by the MBAGRADSCHOOLS.