Employment and the Economy

Youth I.D.E.A.S. 76 Employment and the Economy — Exploring Green Employment for the Future Green employment has become a global trend. To further promote the sustainable development of society and tackle the climate crisis, various governments have committed to developing green markets and to leading the increase in the number of green jobs and relevant practitioners. Green employment in Hong Kong is catching up with this development. While support measures have been provided, this is still in its infancy. Against this background, our study aims to explore the issue and how to promote the development of green employment in Hong Kong as a […]

Youth I.D.E.A.S. 72 Employment and the Economy — Career Development and Challenges in the New Era of Generative AI The rapid development and application of technology, including generative AI, brings different opportunities. Given generative AI’s accelerated growth and application, and with governments of the world’s main economies starting to implement regulatory frameworks, the issue of how to properly use and guide the development of this technology becomes an unavoidable question for the HKSAR Government and various sectors in Hong Kong. The Youth I.D.E.A.S. has conducted research about “Career Development and Challenges in the New Era of Generative AI”. Data was collected during […]

  Youth I.D.E.A.S. 70 Economic Development Tapping into the Economic Opportunities of the Metaverse   The concept of the virtual “Metaverse” world has become popular since 2021. It is considered a new economy trend worthy of universal attention.[1] The Metaverse generally refers to a network of 3D virtual worlds focused on social connection. People in the real world can enter these artificial worlds with an avatar by using virtual-reality and augmented-reality headsets, mobile phones, personal computers and video game consoles. The Metaverse can also be understood as a huge application of various off-the-shelf technologies such as blockchain, artificial intelligence, virtual […]

  Youth I.D.E.A.S. 66 Economic Development Sustaining Sports Development by Strengthening its Industry   Hong Kong athletes have performed very well in recent years. Historically, athletes from the Hong Kong team won 1 gold, 2 silver, and 3 bronze medals[1] in the Tokyo 2020 Olympic Games, and 2 silvers and 3 bronzes[2] in the Tokyo 2020 Paralympic Games, which made the public very excited. However, in terms of public participation in sports, multiple surveys have shown that the physical activity level of Hong Kong’s population is insufficient. The proportion of those who can meet the World Health Organization physical activity […]

Youth I.D.E.A.S. 62 Economics Navigating Career Opportunities for Young People 1 August, 2021   The employment situation of Hong Kong’s young people has been drawing public attention. It is worth looking at how young people’s employment opportunities can be opened up so that their career development choices can be broadened in order to cope with future economic development trends.   Hong Kong is an important financial centre and commercial hub in the world, attracting enterprises of different capital backgrounds. Among them, enterprises from mainland China have been gradually increasing since the 1980s. In recent years, investments from mainland China have […]

  Youth I.D.E.A.S. 58 Economics Tackling Hong Kong’s Brain Drain 14 March, 2021     A talent cluster is one of the key elements in promoting economic growth and social development. Human resources have been the most important asset of Hong Kong in this respect. According to the Report on Manpower Projection to 2027 released by the Labour and Welfare Bureau, the labour force of Hong Kong continues to decline but the overall workforce demand continues to rise. The demand for workers with a bachelor’s degree or above will have increased by 310,000 by 2027, leading to a shortage of […]

  Youth I.D.E.A.S. 54 Economic Department Opportunities for Youth Employment Amid the Pandemic 2 November, 2020   Since the COVID-19 outbreak in Hong Kong in late January 2020, the HKSAR government has introduced a number of measures to reduce social contact and cross-border travel in order to control the spread of the virus. However, these measures have hit the economy and employment hard. As a result, the labour market has been deteriorating since February 2020.   According to the Census and Statistics Department,[1] the overall unemployment rate reached 6.4% for the period July–September 2020, while the overall underemployment rate reached […]

Youth I.D.E.A.S. 51 Economic Development Facilitating Young People’s Access to Financial Services through Virtual Banking 3 July 2020     According to a Business Insider research service report, the total value of all the world’s virtual banks equalled USD 18.6 billion in 2018, with 26 million users and 50 million accounts. It is expected that the growth of virtual banks is rapid and the total value will increase to USD 63 billion in 2024, with 98 million users and 187 million accounts[1].   The Hong Kong Monetary Authority published a revised set of guidelines on the authorisation of virtual banks […]

  Youth I.D.E.A.S. 47 Employment and Economics Development Enriching the Experiences of Working Youth through Overseas Exposures 31 September, 2019     Hong Kong is a cosmopolitan city that bridges east and west. It is also an international trade and financial centre. According to the Census and Statistics Department, 9,040 businesses with overseas parent companies are located here and employ 493,000 people. These businesses cover major industries such as trade, wholesale, retail, finance, and professional and business services.[1] Staff with overseas experience are needed for the daily operation of these businesses as well as for their future overseas expansion.   […]