March 15, 2021
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 […]
November 2, 2020
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 […]
July 3, 2020
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 […]
October 31, 2019
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. […]
June 27, 2019
Youth I.D.E.A.S. 43 Employment and Economics Development Attracting Diverse Young Talents to Hong Kong 27 June, 2019 The Census and Statistics Department has estimated that the overall labour force participation rate in Hong Kong will decrease gradually from 59.2% in 2016 to 49.6% in 2066.[1] This figure reflects the fact that the labour force is gradually shrinking due to an aging population, a trend that may hinder Hong Kong’s overall economic development. Consequently, in its previous reports, the Employment and Economic Development Group of the Youth I.D.E.A.S. has discussed the issue of encouraging young-old people’s and women’s […]
