Will more locals choose to stay in Hong Kong?
Recently released data on Q3 job statistics revealed a shift from expat to local workers in Hong Kong.
In the autonomous territory, Q3 2017 saw a seasonal dip in jobs, quarter-on-quarter. This is consistent with trends across the APAC region, which usually sees a small decline in job numbers just after June. Interestingly, Hong Kong also saw a 4% increase in the number of job seekers, which recruitment consultancy Morgan McKinley attributed to a growing number of expat professionals looking to move on from their current roles.
There is a growing sentiment that hiring managers are increasingly looking to local talent, with local knowledge, connections and language skills, as drivers of business. Richie Holliday, Chief Operations Officer, Morgan McKinley Asia Pacific commented “Much has changed in the last decade. Hong Kong today is a tough jobs market for anyone not fluent in Cantonese or Mandarin.” This has had a knock on effect on visas, which have become more difficult for foreigners to acquire as the skill sets of native Hong Kongers improve.
Paul Arkwright
Publisher
