KPMG Releases Ninth Annual Hong Kong Employment Outlook Report
HONG KONG SAR - Media OutReach Newswire - 19 March 2025 - KPMG China announced today the release of its ninth annual Hong Kong Employment Outlook survey, providing insights into the latest trends and challenges facing the region's employment market. The report covers the headcount expectations of Hong Kong professionals, a salary outlook with an analysis of compensation and benefits in the region, talent management trends to retain and attract talent, areas of growth for companies, and a multi-sectoral salary table. It reveals a cautious employment market in Hong Kong, with C-level executives expressing slightly more optimism about hiring in 2025 compared to 2024 albeit with more uncertainty also creeping in. However, overall headcount expectations have decreased slightly year-over-year across most sectors.
Conducted between 2 and 14 January 2025, the survey collected the perspectives of 425 Hong Kong business executives and professionals on employment trends and career opportunities in Hong Kong and the wider Greater Bay Area (GBA). Respondents were drawn from various sectors, with 53% of respondents' organisations being headquartered in Hong Kong. Among the respondents, 50% held leadership positions (21% C-level and 29% department head or equivalent). This year also marks the first time the survey was expanded to Singapore, for which the findings are covered in a separate publication.
David Siew, Head of People Services, Tax, KPMG China, says: "Evolving business needs, shifting workforce demographics, and technological advancements will drive Hong Kong's employment market. Organisations will need to strike a balance between the optimisation of their operations and the evolving expectations of the workforce for long-term success."
The report highlights the growing importance of talent management for Hong Kong-based organisations, with employers increasingly focusing on attracting and retaining top talent. Key findings include:
A cautious hiring market: Whilst C-suites retain a more optimistic view of increasing or maintaining headcount in 2025 (76%), the increasing uncertainty creeping in suggests that employers will be more cautious in a challenging market.
Subdued salary expectations: Across all respondents, 74% are expecting a pay rise in 2025 against 78% the year prior.
Career moves are on a downtrend: 14% of survey respondents reported having made a career move in 2024 against 15% in 2023 and 23% in 2022.
Stability is increasingly sought after: 39% of respondents put stability as their top non-monetary factor when choosing a new employer, up from 31% in 2024.
Talent demand adapts to market conditions: 97% of C-level and HR respondents experienced challenges in hiring the right talent, with 53% finding these challenges unmanageable.
The report also explores the impact of generative AI on the Hong Kong employment market, with more than half of Hong Kong respondents reporting that their organisations have adopted Gen AI in the past 12 months.
Finally, this year's report touches on GBA opportunities for Hong Kong-based organisations, with 65% of respondents reporting their organisation is either already operating in other GBA cities or planning to expand there within the next three years. The GBA also offers a deep talent pool of qualified professionals that Hong Kong-based organisations have increasingly leveraged: half (51%) of C-level and HR respondents hired talent from the Chinese Mainland in 2025 while 28% hired from overseas markets.
Hashtag: #KPMG
The issuer is solely responsible for the content of this announcement.
About KPMG China
KPMG in China has offices located in 31 cities with over 14, 000 partners and staff, in Beijing, Changchun, Changsha, Chengdu, Chongqing, Dalian, Dongguan, Foshan, Fuzhou, Guangzhou, Haikou, Hangzhou, Hefei, Jinan, Nanjing, Nantong, Ningbo, Qingdao, Shanghai, Shenyang, Shenzhen, Suzhou, Taiyuan, Tianjin, Wuhan, Wuxi, Xiamen, Xi'an, Zhengzhou, Hong Kong SAR and Macau SAR. It started operations in Hong Kong in 1945. In 1992, KPMG became the first international accounting network to be granted a joint venture licence in the Chinese Mainland. In 2012, KPMG became the first among the "Big Four" in the Chinese Mainland to convert from a joint venture to a special general partnership.
KPMG is a global organisation of independent professional services firms providing Audit, Tax and Advisory services. KPMG is the brand under which the member firms of KPMG International Limited ("KPMG International") operate and provide professional services. "KPMG" is used to refer to individual member firms within the KPMG organization or to one or more member firms collectively.
KPMG firms operate in 142 countries and territories with more than 275,000 partners and employees working in member firms around the world. Each KPMG firm is a legally distinct and separate entity and describes itself as such. Each KPMG member firm is responsible for its own obligations and liabilities.
Celebrating 80 years in Hong Kong
In 2025, KPMG marks "80 Years of Trust" in Hong Kong. Established in 1945, we were the first international accounting firm to set up operations in the city. Over the past eight decades, we've woven ourselves into the fabric of Hong Kong, working closely with the government, regulators, and the business community to help establish Hong Kong as one of the world's leading business and financial centres. This close collaboration has enabled us to build lasting trust with our clients and the local community – a core value celebrated in our anniversary theme: "80 Years of Trust".
KPMG China
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Al Etihad
an hour ago
- Al Etihad
UAE's Calidus concludes successful participation at IDEF 2025 in Istanbul
27 July 2025 20:02 ISTANBUL (WAM)UAE-based Calidus Holding Group has concluded its successful participation in the 17th edition of the International Defence Industry Fair (IDEF 2025), held at the Istanbul Expo Centre from July 22 to 27, as part of the UAE National Pavilion, supervised by Tawazun Council for Defence Enablement (Tawazun).The Calidus stand witnessed strong engagement from senior officials, military leaders, and official delegations from around the world, who praised the advanced capabilities of the UAE's defence industry and commended Calidus products for their reliability, precision, and competitiveness on regional and global the exhibition, Calidus signed several agreements and memorandums of understanding, including an MoU with Türkiye's Presidency of Defence Industries (SSB) to support supply chain collaboration and industrial localisation programmes, as well as an MoU with CTech to explore joint satellite communications and data link projects for military Director and CEO of Calidus Holding Group, Dr. Khalifa Murad Al Blooshi, stated that the participation significantly boosted the company's international presence and showcased the technological innovations of the UAE's defence sector, particularly in AI-driven and next-generation defence solutions, all designed and manufactured exhibited a range of advanced solutions, including the MATV armoured combat support vehicle integrated with the Al Hedaa missile launcher, six variants of the Al Hedaa system, models of the B-250 light attack and B-250T advanced trainer aircraft, a mock-up of the CLS military vehicle production facility, and cutting-edge electro-optical and infrared company also presented its locally manufactured military chassis, built for high-load and extreme-condition performance. The company emphasised that its IDEF 2025 participation aligns with its broader vision to strengthen the UAE's role as a key player in the global defence landscape through technology localisation, strategic autonomy, and regional and international market expansion.
Middle East Eye
5 hours ago
- Middle East Eye
IMF warns against Egypt's military dominance over economy
In arguably its bluntest report to date, the International Monetary Fund (IMF) warned that Egypt's military-controlled economic model is crippling private sector growth, deterring investors and keeping the country in a cycle of debt and underperformance. In its long-delayed staff report for the fourth review of Egypt's loan programme, the IMF noted: 'The economic landscape is dominated by public-driven investments, an uneven playing field, and state-owned entities, including military ones.' The IMF further warned that military-owned firms continue to enjoy 'preferential treatment', including tax breaks, cheap land and privileged access to credit and public contracts. Such privileges, the 202-page report notes, have continued to sideline private sector competitors and distort the market. While Cairo has taken some economic steps - such as floating the pound, slashing subsidies and launching a state ownership policy - the IMF says progress has been 'uneven and slow', leaving many of the country's key problems unresolved. New MEE newsletter: Jerusalem Dispatch Sign up to get the latest insights and analysis on Israel-Palestine, alongside Turkey Unpacked and other MEE newsletters Public debt remains high, and Egypt's external debt is expected to rise from $156.7bn to $180.6bn in the current fiscal year, deepening the country's financial strain, according to the IMF. Meanwhile, everyday Egyptians are bearing the brunt, grappling with soaring inflation, declining ages and a shrinking safety net, the report suggests. A flawed economic model The military's grip on Egypt's economy is not new. It dates back to the 1950s, following the July 1952 revolution, when army officers overthrew the monarchy. But the generals' economic role expanded significantly after the 2011 uprising, when the Supreme Council of the Armed Forces (SCAF) assumed control following the ouster of long-time autocrat Hosni Mubarak. The situation even worsened under President Abdel Fattah el-Sisi, who technically assumed power in 2013 after he had led a coup that removed Egypt's first democratically elected president, Mohamed Morsi. Egypt's Sisi accused of 'giving away' strategic Red Sea land of Ras Shukeir after decree Read More » One of the IMF's central concerns is the ongoing expansion of military-run businesses in non-defence sectors, operating behind closed doors, with little transparency or public oversight. The military has steadily expanded its role in construction, agriculture and other civilian sectors, justifying its reach by claiming to deliver major national projects and secure economic stability. But experts argue that this flawed model pushes out the private sector and reinforces a non-transparent economic elite. 'Military involvement in the country's economy undermined competition, discouraged private investment, and distorted market signals, creating a dual economy - one transparent and risky - and the other opaque and protected,' a Cairo-based economist told Middle East Eye on condition of anonymity for security concerns. The expert's view is echoed by a construction contractor in the Mediterranean city of Alexandria, who also asked to remain anonymous for similar reasons. 'Military involvement in the country's economy undermined competition' - Egyptian economist 'Before the army stepped into our industry, I used to have three projects running in and around Alexandria,' he told MEE. 'Now, I'm lucky if I get one a year. We just can't compete with the pricing or timelines of military-backed companies.' In 2019, Mohamed Ali, a former contractor now living in self-imposed exile in Spain, blew the whistle on the military's business dealings, sharing explosive behind-the-scenes details in a series of viral videos and social media posts. His revelations sent shock waves through Egypt, sparking rare public outrage and calls for accountability in a country where questioning the military is often taboo. In an exclusive interview with MEE, Ali revealed that he received state-funded projects without contracts or oversight. His claims, supported by the IMF's latest report, painted a picture of a shadow economy that avoids scrutiny. The IMF's latest report reflects those alarms, reinforcing long-standing concerns about secrecy and privilege in Egypt's economic system. 'While some private sector representatives reported improved access to foreign exchange,' the IMF noted, 'others flagged an uneven playing field in key sectors.' The report also pointed to 'gaps in transparency and accountability' in both state-run and military-affiliated companies. According to the report, military-owned and state-run firms benefit from tax exemptions, access to prime land and cheap labour, all while operating with very limited transparency about their finances. In industries like cement, steel, and marble and granite, military firms control up to 36 percent of the market, making it nearly impossible for genuine private competition to develop. An earlier section of the report noted that the 'reallocation of public spending towards military-related or high-profile projects diverts resources from more productive uses, and undermines long-term growth potential', cautioning that ongoing public sector control can discourage foreign investment and crowd out domestic enterprise. Credibility at stake The fifth and sixth reviews of Egypt's $8bn loan programme have now been merged and delayed, another sign of the IMF's mounting frustration. The delay highlights Cairo's slow progress on key commitments, especially privatising state and army-run companies and reducing fiscal vulnerabilities that still burden the economy. As part of its commitments to the IMF, the Egyptian government has promised to sell stakes in 11 state-owned enterprises by mid-2027. Four of these companies are military-owned, including Wataniya Petroleum and Safi, a bottled water company that has faced long-standing criticism for its lack of financial transparency. IMF more than doubles Egypt bailout deal to $8bn following devaluation Read More » The plan aims to increase private sector involvement and restore investor confidence. However, progress has been slow. Both Wataniya and Safi have been moved to the Sovereign Fund of Egypt to prepare them for sale. Two other military-affiliated companies - ChillOut, a fuel station chain, and Silo Foods - a large food processing business, are also set to be offered to local and foreign investors as part of the state's broader privatisation effort. While Gulf investors have consistently expressed interest in buying these military-run businesses, the deals have faced continuous delays, despite numerous promises and public statements from Egyptian officials. No clear timeline has been established, which raises questions about the government's willingness and ability to fulfil its privatisation commitments. Despite Egypt's shift to a flexible foreign exchange rate in March 2024, commended by the international lender, the report made it clear that Cairo must keep up with reforms to secure the next $2.5bn loan tranche. 'Preserving exchange rate flexibility and rebuilding credibility in the monetary framework will be critical,' the IMF explained. With public debt soaring and economic inequality deepening, the IMF's warning comes at a crucial moment. 'Unless exclusive benefits offered to military and state firms are lifted and transparency is ensured, private businesses will continue to hold back. The IMF's message is crystal clear. Sustainable growth requires fair play, not to protect a powerful few who avoid public scrutiny,' the economist concluded.
What's On
11 hours ago
- What's On
Inside: The Growhouse by One Life at Alserkal Avenue
House favourite One Life Kitchen is growing – literally and figuratively. The community concept has a brand new outpost in Alserkal Avenue, resident cool club for all the cool kids, and now a culture and dining hotspot in the city, and this one is a little bit different. After wildly successful branches in D3 and JVC, they've made a pivot into a farm-to-table experience coming straight from just one level above – The Growhouse by One Life. Necip Camcigil, founder of One Life, tells us that this was a natural progression. The demands of Alserkal Avenue for this collaboration were such that he had to innovate and come up with a fresh idea for a fresh space, as is the MO of the avenue, and this is what came out of it. He adds that One Life was never going to be a franchise-chain-esque concept, which is why each branch has an element that makes it stand apart from the others. After failed attempts at growing produce at their D3 location during the strange times of the pandemic, him and partner Chef Kelvin Kelly decided now was the time to revive that design, but done with purpose and intention this time. And so, The Growhouse was born. Housed within industrial chic walls, the cafe and co-working space features a regenerative biodiversity farm and a massive kitchen, three times larger than the sister branches, and is also now the catering headquarters of the brand. The space itself is big and airy, still having retained a lot of the barebones elements of the warehouse structure – concrete walls, exposed vents, high ceilings and all that. Posters from neighbour Cinema Akil's activations line the walls. Two bright red, charming handpumps stand in the middle of all the greenery, so you can wash your hands the way your ancestors did it. This time around, UAE-based sustainable solutions provider LetitGRO is offering horticulture expertise to make up for the lack of Camcigil and Kelly's green thumbs, and local company, The Waste Lab, will help them convert food waste into a resource. The Growhouse will also serve as a community hub, hosting public workshops and events centred around sustainability, food, and wellness. The food One Life has always had a made-from-scratch, sustainable philosophy, but now with an indoor farm where they're growing their own ingredients, they're executing it in the most absolute manner – real zero-mile, farm-to-table stuff, with a view into the magic with the open kitchen. A myriad of all kinds of delicious scents reach my nose before the food is even served, and I'm given a selection of some of the exclusive Alserkal dishes. Two kinds of tortellini – hearty, packed with flavours and comfort; perfectly done kebabs, Camcigil's own recipe, juicy and slathered in yogurt sauce; sea bass served in a silky, buttery sauce with sweet grapes – you'd think it doesn't work, but it couldn't be better; mixed salad bowl with pasta, beetroot, cherry tomatoes, kale and more good, green stuff; and of course, some amazing coffee. The story of One Life is also one of awakening from corporate slumber. As we pick at our food, Camcigil explains the inspiration of the name of his brand – having spent 9 years in corporate, he decided he was going to take his one life and do something with it that nourishes him. The many things The Growhouse does and the way it does them reflects what it stands for – doing everything, for everyone, from scratch. The air is buzzing with a welcoming, communal feel as patrons tap-tap away at their laptops, sipping coffee, having meetings and going about their day. Life, done at a leisurely pace, because you know, you only have one of it. @thegrowhousedxb Images: Supplied > Sign up for FREE to get exclusive updates that you are interested in
