A 2024 Glimpse at the Hong Kong Job Market

The Hong Kong job market has seen a shift in recent years, with companies looking to hire younger professionals to fill mid- and senior-level positions¹ as experienced candidates depart. Additionally, as shown in an industry study² 54.5% of Hong Kong companies were confident in hiring candidates with the required skills over the next 12 months, and were actively shaping their workforce strategies to adapt to the evolving economic landscape.

Shifting Talent Demand

The demand for talent is obvious — but to see the full picture of the current job market in Hong Kong, we shall look closer at the numbers. In the foreseeable future, the demand for hiring will likely be primarily driven by persistent talent shortages prevalent across a select few industries. 

Currently, 62% of global senior decision-makers see a scarcity of personnel possessing IT skills. This sentiment certainly holds true in Hong Kong, as we anticipate a sustained demand for tech-savvy talent in the foreseeable future, as companies continue to undergo digital transformation and pivot their businesses online following the city’s digital economy development plan. Notably, the adoption of AI-powered technologies is a key priority for many organsations to facilitate decision making or enhance customer experience, further driving the need for professionals skilled in areas like machine learning, data analytics, and intelligent automation. With tech-related job openings leading the line, 75% of global recruitment professionals anticipate that skills-first hiring will be paramount for their organisations, mounting pressure for a change in the talent sourcing approach. 

The Rising Demand for AI and Data Science Specialists

One field that’s seeing high demand in particular is no other than Artificial Intelligence (AI) and machine learning. AI for business application is still in the budding stages for most non-tech companies. Employers are looking to AI for productivity improvement and even process automation, so candidates with a deep understanding of building and utilising AI models are highly sought after. 

Similarly, data science and analytics skills have become increasingly sought-after over the past decade, driven by the growing prominence of big data and machine learning. As AI continues to become more ubiquitous, the demand for talent specialising in these domains is expected to rise further. While the global talent pool of data scientists and analysts stands at a sizeable 2.7 million individuals, according to a recent industry data³, the uneven distribution of talents urges organisations to actively acquire top data science and analytics talent to stay competitive in the complex and ever-evolving technology landscape. This trend is also observed in Hong Kong, where the demand for AI and data science specialists continues to grow. As shown in the Talent List, a government-led initiative to identify the most sought-after professions in Hong Kong, the city currently holds a great interest in recruiting AI specialists, cloud infrastructure specialists, data scientists, and many more innovation and technology professionals. 

Navigating the Evolving Landscape

As the demand for tech-savvy talent continues to rise in Hong Kong, there are ample opportunities for individuals to join the thriving AI industry. Those interested in leveraging their skills in areas like machine learning, data analytics, and intelligent automation can explore the wealth of job openings available. 

In support of the Hong Kong government’s digital-forward directive, business and tech incubator institutions like Cyberport, Hong Kong Science Park and the upcoming Hong Kong-Shenzhen Innovation and Technology Park are always open for overseas talents to join their I&T community, with a whole spectrum of funding and job search support available. To stay up-to-date on the latest AI-related job opportunities, we recommend regularly checking our Hot Job section, which features the most in-demand roles across the technology sector.

Follow our social media channels closely, as we regularly share information about relevant seminars and workshops that can help deepen your understanding about Hong Kong job market. By proactively investing in your skill development and staying informed about the industry, you can position yourself as a competitive candidate for the many AI-related roles that are in high demand across Hong Kong's thriving tech ecosystem.

Source

1. Robert Walters’s Hiring in Hong Kong: Guide and Trends in 2024
2. Hay’s 7 Trends Employees and Employers in Hong Kong SAR Should Know in 2024
3. Randstad’s 2024 Global in-Demand Skills Research