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Asia has more than 30 cities with populations greater than five million people, yet only two can lay claim to the top bar on Asia’s 50 Best Bars list.

Every year since the list’s inception, the continent’s best-ranked bar has been in either Hong Kong or Singapore.

The annual ranking is organized by William Reed Media, which also publishes The World’s Best Bars and The World’s 50 Best Restaurants.

“Asia’s 50 Best Bars was the first and is currently the only regional 50 Best ranking, with the inaugural list announced in 2016,” said Mark Sansom, the list’s content editor. “Asia has a huge variety of brilliant bars and cities that we felt needed recognizing as some of the leading cocktail capitals in the world.”

The ‘best bar’ in Asia

Over the last six years, five bars have topped the 50 Best list. Singapore gained an early edge in total wins, yet Hong Kong has had the “best bar” in Asia twice in the past three years.

Here’s the breakdown:

Bars that ranked No. 1

Hong Kong’s Coa was named Asia’s best bar at this year’s awards, announced in May. The Mexican-inspired establishment, with a menu that leans heavily upon agave-based spirits, edged out Singapore’s Jigger & Pony, which fell to No. 2.

Coa, which launched in 2017, made its name with drinks such as the “Ancho Highball” with tequila blanco and salted plum and the “La Chinesca” with mezcal, cayenne pepper and ginger honey.  

Jay Khan (left) opened Hong Kong’s Coa, a Mexican-inspired bar named after the tool used to harvest agave.

Courtesy of Asia’s 50 Best Bars

Sansom said Coa clinched the top spot due to its “subtle agave education, relaxed vibes and a simply fantastic drinks list… combined with the great work they have been doing to support their community throughout the pandemic.”

The full list

Asia’s 50 Best Bars list is created by tabulating votes from 220 industry insiders who name five bars, in order of preference, that they most enjoyed during the past 18 months. At least one bar must be outside the voter’s country of residence.  

An Old Fashioned, made with sugar sourced from Japan’s Hateruma island, at Singapore’s No. 2-ranked Jigger & Pony.

Courtesy of Asia’s 50 Best Bars

“This method… means that bars cannot apply to be on the list, cannot be nominated, and no external influences (from William Reed or our sponsors) can influence the list,” reads 50 Best’s website.  

The process also provides space for newcomers and opportunity for movement among the rankings, both of which are apparent on the 2021 list:

1. Coa, Hong Kong
2. Jigger & Pony, Singapore
3. The SG Club, Tokyo
4. Indulge Experimental Bistro, Taipei, Taiwan
5. Sober Company, Shanghai
6. Manhattan, Singapore
7. Atlas, Singapore
8. No Sleep Club, Singapore — new
9. Bar Benfiddich, Tokyo
10. Caprice Bar, Hong Kong — No. 34 in 2020
11. The Bamboo Bar, Bangkok
12. Bar Trigona, Kuala Lumpur, Malaysia
13. Charles H, Seoul, South Korea — No. 29 in 2020
14. Native, Singapore
15. Hope & Sesame, Guangzhou, China — No. 36 in 2020
16. Sidecar, New Delhi — No. 40 in 2020
17. Bar Mood, Taipei, Taiwan
18. Bee’s Knees, Kyoto, Japan
19. Room By Le Kief, Taipei, Taiwan
20. The Diplomat, Hong Kong — new
21. 28 HongKong Street, Singapore
22. Tropic City, Bangkok
23. Tell Camellia, Hong Kong — new
24. Aha Saloon, Taipei, Taiwan
25. Quinary, Hong Kong
26. The Pontiac, Hong Kong
27. High Five, Tokyo
28. The Wise King, Hong Kong
29. Barbary Coast, Singapore — new
30. Penicillin, Hong Kong — new
31. Union Trading Company, Shanghai
32. Speak Low, Shanghai
33. Union Brasserie, Bakery & Bar, Jakarta, Indonesia
34. Bar Cham, Seoul, South Korea
35. Backstage Cocktail Bar, Bangkok
36. Tippling Club, Singapore — No. 17 in 2020  
37. Junglebird, Kuala Lumpur, Malaysia
38. The Curator, Manila, Philippines
39. D.Bespoke, Singapore — No. 23 in 2020
40. Darkside, Hong Kong — new
41. Alice, Seoul, South Korea
42. The Old Man, Singapore — No. 22 in 2020
43. Bar Trench, Tokyo
44. Le Chamber, Seoul, South Korea
45. MO Bar, Singapore
46. Vesper, Bangkok — No. 11 in 2020
47. Three X Co, Kuala Lumpur, Malaysia — new
48. Teens of Thailand, Bangkok
49. Sago House, Singapore — new
50. Star Bar, Tokyo

Of the eight bars making their first appearance on the list, half are in Hong Kong, the most of any city in Asia. That doesn’t surprise John Nugent, co-founder of The Diplomat, a speakeasy-style bar in Hong Kong’s Central district which, at No. 20, was the highest ranking new bar to open in Asia this year.

“Hong Kong has always been a city willing to push the envelope,” he told CNBC Travel. “We have seen and will continue to see fun, interesting and exciting bars in the near future.”

The Diplomat’s John Nugent told CNBC its “extremely fun” to be part of Hong Kong’s new bar scene “which are owned and operated by bartenders themselves.”

Courtesy of The Diplomat

Nugent is opening a new martini bar in Hong Kong this summer, and he’s heard rumors of new bar openings in the neighborhood, he said. He described the area as recently being “just a couple of takeaway kebab joints, but now we have three ’50 Best Bars’ within 30 seconds of each other.”

New in 2021: the expanded list

Despite its name, Asia’s 50 Best Bars published an expanded list of bars that ranked from 51 to 100 this year, a first for the organization.

“The 51-100 list gives us the opportunity to recognize a greater number of amazing bars, especially during this difficult period for the hospitality industry,” said Sansom. “It was great to see new destinations such as Sri Lanka and Vietnam appear for the first time on the list.”

Plus, he said consumers now have “double the choice of expert-approved drinking destinations” as they make travel plans in the months ahead.

Hong Kong has three bars on the extended list:

• 54. The Old Man — No. 2 on last year’s list
• 65. 8 1/2 Otto e Mezzo Bombana
• 68. The Shady Acres 

Singapore has six:

• 66. Gibson
• 70. Employees Only
• 71. Ah Sam Cold Drink Stall 
• 75. Live Twice
• 79. The Other Room
• 82. Junior The Pocket Bar

Individual awards

A final lens through which to evaluate Asia’s cocktail capital are the individual honors the 50 Best organization awards to specific bars and people. Together, Hong Kong and Singapore secured seven of those nine awards.

This year, these Hong Kong establishments took home individual awards:  

• Quinary — Heering Legend of The List award, for a bar that consistently ranks well year after year
• The Diplomat — London Essence Best New Opening, honoring a new bar that opened with the highest ranking
• Caprice Bar — joint winner with New Delhi’s Sidecar of the Nikka Highest Climber award, for the bar that has risen the most in rankings in a year
• Penicillin — Ketel One Sustainable Bar award, for the bar with the strongest commitment to sustainability

Read more from CNBC Travel

Singapore clinched these three:

• No Sleep Club — the Disaronno Highest New Entry award, for the highest-rated bar entering list for first time
• Bannie Kang of Anti:Dote Fairmont Singapore — Mancino Bartenders’ Bartender award, for the individual who contributed the most during the previous year
• MO Bar — Michter’s Art of Hospitality award, for best hospitality experience

Following this year’s virtual ceremony, Asia’s 50 Best Bars awards presentation is scheduled to return to an in-person format in 2022. Sansom indicated Singapore and Hong Kong may face stiff competition at the event, which is to held in Singapore.

“With the way the bar scenes are progressing in other parts of Asia,” he said, “there are many other locations that are pushing very hard for the top spot.”

Indian women wait in line for food in New Delhi.

SOPA pictures | LightRakete | Getty Images

The World Bank has warned that while the pandemic is recovering, critical measures must be taken to get women back into work and on the path to gender equality.

The pandemic has exacerbated existing gender gaps, and more efforts are needed now than ever to advance women, World Bank group global director Caren Grown told CNBC on Friday.

“While everyone was exposed to the same storm, they really affected men and women differently,” Grown told Squawk Box Asia.

For example, although the death rate from Covid-19 was generally higher in men, women are more socially and economically affected, she said.

This is partly due to the disproportionate representation of women in heavily affected industries such as hospitality and tourism, but also to the additional care obligations that they normally face.

It has always been referred to as a shadow pandemic, but when we think about a recovery we actually need to initiate stronger responses.

Caren has grown

global director, World Bank Group

Even before the pandemic, the World Bank estimated that it could take 150 years for women to achieve gender equality with men. The health crisis has likely lengthened that schedule.

To overcome these differences, ensuring equitable access to vaccines is critical, Grown said. This includes making sure women have the time and resources to schedule their appointments.

In addition, further financial and nursing support is required to get the most affected women back on their feet and back to work.

Eventually, more safeguards against gender-based abuse need to be put in place, she said.

“What has been exposed during this pandemic is the increase in gender-based violence,” Grown said. “It has always been called the shadow pandemic, but when we think about a recovery we actually need to take stronger responses and preventative measures.”

Chairman/CEO of AMC Entertainment Inc. Adam Aron speaks onstage during the 2018 Will Rogers Pioneer of the Year Dinner at Caesars Palace during CinemaCon, the official convention of the National Association of Theatre Owners, on April 25, 2018 in Las Vegas, Nevada.

Alberto E. Rodriguez | Getty Images

“Silverback” has spoken, and he wants to issue more stock.

AMC Entertainment CEO Adam Aron sat down Thursday night with Trey Collins, host of the Trey’s Trades channel on YouTube, to answer questions from the company’s largest pool of investors.

The nearly hour-long interview offered Aron unrestricted access to Collins’ more than 280,000 subscribers, many of whom are owners of AMC stock. While Collins used this as a chance to ask Aron to clarify the company’s dealings with Mudrick Capital, its outstanding share count and the short sellers who are betting against AMC, Aron used the platform to try to persuade shareholders that allowing the company to issue millions of new shares was in the movie theater company’s best interest.

“If you arm us with the tool — meaning stock as the tool — to go find value-creating opportunities for AMC shareholders, we can do that,” Aron said. “If we are not armed with this tool, then you’re tying our hands behind our back and you’ll make it just that much harder for us to land some of these attractive opportunities that could benefit us all.”

Aron’s latest push to persuade investors to allow AMC to issue more stock comes just months after it failed to gain shareholder support to add 500 million shares.

AMC executives postponed its shareholder meeting until late July from May in an effort to allow more of its newer shareholders — who call themselves apes and have anointed Aron as their silverback — to attend the meeting. Meanwhile, it has been revamping its strategy. Its newest proposal, which it unveiled Thursday, asks shareholders to allow AMC to issue up to 25 million more shares. If approved, the company would not be allowed to sell any of that stock until 2022.

Aron reiterated that the company is looking at several acquisition opportunities, including buying ArcLight and Pacific theater locations that were shuttered during the pandemic, and would use funds raised through stock sales to do so.

He also said the cash could be used to pay down debt, reduce interest costs, or pay off millions in unpaid rent.

In the last week, AMC has sold 20 million shares in two separate deals, generating around $800 million in cash. The first transaction involved Mudrick Capital, which paid more than $230 million for 8.5 million shares. Then, AMC revealed Thursday that it had sold an additional 11.5 million shares for $587 million.

The latest stock sale made for a wild trading day for the stock Thursday. Shares closed down nearly 18% at $51.34. In premarket trading Friday, the stock was down 7.4%.

Aron said the 20 million shares were initially intended to be given to AMC’s upper management team, but the company decided to sell the stock to “strengthen the company.”

“Between those two transactions we raised over $800 million of cash, not to line my pocket or anybody who works at AMC, but to put that money in the treasury of AMC to strengthen AMC and let AMC do more good things, to grow the company,” he said.

Aron said AMC had been using stock sales to raise funds for months and without these additional shares, the company would not have avoided bankruptcy.

Aron pointed to the sale of around 200 million new shares in December, for which the company garnered around $844 million, as evidence of this.

“That single act of diluting shares saved the company and made the company a stronger company,” he said.

AMC sold 43 million more shares in May, netting $428 million in cash.

“In our view, yes we were aware that we were diluting share count, but in our view that $428 million in cash greatly strengthened AMC,” he said.

From January to May, AMC tallied around $1.6 billion in cash from these stock sales, Aron said. As of Wednesday, the company has around 501 million shares outstanding and about 46,000 shares left for future issuance.

“The shareholders should authorize more shares,” Aron said, “because this could be a very valuable tool to build this company going forward and grow this company going forward.”

For shoppers of a certain age, Fossil Group was a shopping mall fixture — with its leather belts, handbags, and of course, quartz watches sold in collectible tins.

The fashion watch and accessories company was remarkably successful for decades, from its founding in 1984 until just a few years after Apple introduced the Apple Watch.

And now it is struggling, as sales in the watch market become increasingly split between high-end mechanical timepieces from most Swiss makers on the one hand, and smartwatches on the other.

Fossil is trying to trim its operations, develop new products and expand into new markets, especially China and India.

It clearly has plans to survive and thinks its total addressable market will grow. But it could be a tough battle.