Across the region, the market outlook seems relatively positive. Despite gradually slowing economic growth – expected by many analysts to be somewhere between 7 and 7.5%, the mainland market will continue to be investment-driven with an important role for exports. However, the struggling property market is expected to be a drag on growth.
Hong Kong will continue to be a hub of trade and industry, although economic and political issues could change the landscape. Property prices are rising steeply, and there is a shortage of good schooling options – issues that could make Hong Kong less welcoming for expatriate labour and locals alike.
Those considerations notwithstanding, the PageGroup Greater China team is confident and positive about the Hong Kong market in the coming year.
Although no big changes are expected in Hong Kong, we do expect a gradual increase in the number of jobs created. This is an indicator that, although employment conditions may not be booming, they are solid and steady.
We expect Taiwan’s banking and financial services sectors to remain relatively quiet. However, other industries should have solid growth. Tech companies in particular will need to hire people, as digital marketing and e-commerce continue to expand.
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