Traditionally seen as the gateway to China, Hong Kong remains a vibrant financial centre and regional headquarters for multinational companies. The Occupy Central movement that occurred from September through to December 2014 made headlines, however evidence that business operations were significantly disrupted outside of the neighborhoods where the protests occurred is difficult to pinpoint.
Overall, the Hong Kong market is buoyant, with positive activity across all sectors. Employers are more conservative about hiring than they were during the red-hot years of 2006 and 2007, but activity is still strong, and new companies are setting up offices. Currently, there is a real need for sales and marketing professionals. Positions in retail, including management positions, are also numerous, as are those in the food and beverage industry.
Banking and financial services, which remain significant drivers within the local economy, have their own employment needs. In fact, many junior-level positions are now available. Demand for less-experienced workers is a side-effect of the recent financial crisis, after which many banks scaled back on campus hiring in order to cut costs. Facing an expansionary period, many such institutions are now seeking to bring in new talent.
“There is always a shortage of talent, both in Hong Kong and on the mainland,” says Howard Chan, a Director in Michael Page’s Hong Kong office. “That’s true whether you’re talking about niche roles or leadership positions.”
For full details see the 2015 Greater China Salary & Employment Outlook report.
More market insights from Michael Page’s business leaders can be found here:
- Insights from Natellie Sun, Director, Page Personnel Hong Kong