Hong Kong is starting to look up. The Hang Seng Index has rebounded from last year’s lows and tourists are flocking to major musical and sporting events in the city's new stadium. Even expats – many of whom left for Singapore, London and elsewhere during the pandemic – appear to be returning.

But structural challenges remain. The commercial property market is beset by record-high vacancy rates while retailers are reeling as residents find significant cost savings over the border in cities such as Shenzhen. And now we have the onset of US tariffs. What will it take for Hong Kong to recapture its reputation as Asia's vibrant, international city?

Benjamin Quinlan, CEO of Quinlan & Associates and conference ambassador at the Hong Kong Tourism Board, says the city needs to double down on mega events. He joins John Lee and Katia Dmitrieva on the Asia Centric podcast.