The problem of IT talent shortage in Hong Kong is a real headache. The Hong Kong General Chamber of Commerce survey stated that 74% of local business leaders reported they needed more talent. Jonathan Cheng, head of strategy and sales for Hong Kong and Macau at Lenovo Hong Kong, added the demand for IT talents has been a constant struggle, which intensified in 2023 with the rise of digitalization and user expectations. However, many IT professionals are now leaving the city or have moved forward across China to find better opportunities elsewhere. Let’s explore why this is happening and where they are going.

Reason of IT talent shortage in the Hong Kong:

1. Better Job Opportunities: Other cities across China are offering better career opportunities and financial rewards to the employees.
2. Higher Quality of Life: The high cost of living and stressful work culture in Hong Kong push many to seek a better work-life balance elsewhere.
3. Career Growth: Many IT professionals look for places where they can work on exciting projects and advance their careers with handsome salary packages and other work benefits.
4. Education and Research: The countries with top university scholarships and research facilities has attracted the professionals those seeking further better education to work along with other benefits like visa, tax etc.
5. Remote Work Opportunities: The rise of remote work has enabled IT professionals to work for global companies without being tied to one location, giving them the freedom to move in global market with higher salary and less income tax.

Where is HK’s potential IT Talent?

• Singapore Tech: Singapore is becoming a top choice for IT professionals from Hong Kong. It has a strong tech industry, a favorable business environment with higher salary, including benefits, and is close to Hong Kong. Many IT professionals are working there on-site, remote, and on hybrid mode for the companies.
• Mainland China: Cities like Shenzhen and Shanghai are popular among IT professionals. Shenzhen, known as the “Silicon Valley of China,” offers many job opportunities and is close to Hong Kong, making it an attractive destination. We have already our office located in the Shenzhen to provide our customers a top IT talent pool.
• United States: The US, especially Silicon Valley, attracts IT talent due to the presence of major tech companies and a culture of innovation. IT professionals can work on cutting-edge projects and enjoy numerous career opportunities.
• Canada and Australia: Canada and Australia offer a high quality of life and strong job markets in the tech sector. Cities like Toronto, Vancouver, Sydney, and Melbourne provide excellent career opportunities and a balanced lifestyle. Making it the perfect career development origine for global talent.
• Europe Region: European cities like London and Berlin are becoming more attractive to IT professionals. They have vibrant tech industries and offer a high standard of living. Due to supportive income tax structure, these cities are providing exciting opportunities for IT talent along with education support.

Impact on Hong Kong’s Tech Industry

The shortage of potential IT professionals is challenging in Hong Kong for tech industries. A talent shortage could affect the city’s competitiveness in the global tech market. To address this, businesses need to create a stable and supportive environment for our IT professionals, offering competitive opportunities and a support for a better quality of life.

Conclusion

The problem of IT talent shortage in the Hong Kong is driven by better job opportunities, higher quality of life, career growth, educational prospects, and the rise of remote work. As IT professionals seek better opportunities and quality of life, they are moving forward or else considering remote or hybrid work options. From Hong Kong to retain its talent, it must address these issues and create a more favorable environment for its tech industry.

For 9+ years, Boyang is helping IT industries across Hong Kong and China to find top talent for any IT role especially for network and cybersecurity. We are connected with best IT professionals and has successfully filled 500+ IT roles last year.

If you are the tech company looking to hire candidates for IT positions, consult with us today.