Hong Kong Worker Shortage Forecast Cut to 130,000 by 2028 on Talent Policies
SCMP · 2 SOURCES1 day ago2 MIN
Summary
Hong Kong's projected workforce shortage by 2028 has been revised down to 130,000 workers, about one-third less than earlier estimates, according to Labour and Welfare Secretary Chris Sun Yuk-han. The improvement stems from AI-driven economic changes and government policies to attract talent and import labour. A detailed five-year manpower projection will be announced next week.
Key Points
- Hong Kong's 2028 workforce shortfall revised to 130,000, down from 180,000 projected in 2023
- Without government talent policies, shortage would have hit 300,000 workers by 2028
- 2023 forecast predicted labour supply of 3.56 million against demand of 3.75 million
- Economy assumed to grow at 3.2% annually; 2023 shortage stood at 50,000 workers
- Start-up founders approved by Science Park, Cyberport, or Hong Kong-Shenzhen Innovation and Technology Park exempt from proving company income when renewing Top Talent Pass Scheme visas
- Government subsidies cover one-third of young employees' salaries up to HK$6,000 monthly for six months under Graduate Employment Launch Program
Why It Matters
The revised projections demonstrate that Hong Kong's strategic talent acquisition and AI integration efforts are yielding tangible results in addressing structural labour gaps. With 10,000 additional youth positions created through the Graduate Employment Launch Program, the government is directly tackling youth unemployment while building a sustainable workforce pipeline for the city's innovation-driven future .
The revised projections demonstrate that Hong Kong's strategic talent acquisition and AI integration efforts are yielding tangible results in addressing structural labour gaps. With 10,000 additional youth positions created through the Graduate Employment Launch Program, the government is directly tackling youth unemployment while building a sustainable workforce pipeline for the city's innovation-driven future .