The city has some of the best conditions to attract both foreign institutions and students to make a hub a reality. These include regulations to ensure the quality of courses and favourable financial incentives and visa conditions.

Many countries want to be hubs, but at the British Council's Going Global 2013 conference, held in Dubai last month, it was Hong Kong that came out as one of the star performers, according to two new studies conducted by the British Council and Dr Jane Knight, the "hub specialist" from the University of Toronto.

In 2011, government figures showed about 38,300 students were enrolled in around 1,160 non-local courses registered with the Education Bureau, from Britain, Australia and other countries.

These courses, known as trans-national education (TNE), have helped Hong Kong extend access to higher education and raise the skill levels of young people. They are part of the hub in operation, supported by policies to ensure quality and an option for local accreditation.

Local universities also play a key role in Hong Kong's hub status, as Dr Eden Woon, vice-president for institution advancement at Hong Kong University of Science and Technology, made clear at the Dubai conference. Unlike many hubs, the city has strong local institutions, which attract students from elsewhere, particularly the mainland. Writes Katherine Forestier for South China Morning Post.