hong kong SAR 2020 market outlook & salary snapshot.

The Randstad Hong Kong’s 2020 Market Outlook and Salary Snapshot report gives an overview of talent demands and salary benchmarks in relation to the local economic market forecast and performance.

With the global political and economic uncertainties still looming in the horizon, Hong Kong SAR’s labour market is expected to remain conservative with hiring in 2020. 

The US-Sino trade war will further impact  global business and consumer confidence. Consequently, the political and social unrest witnessed in the second half of 2019 has adversely affected the market’s appeal as Asia Pacific’s leading financial hub. 

Developments in the Greater Bay Area have been drawing international attention, especially from companies that are setting up base or expanding their business footprint in Asia Pacific.

2020 labour market trends

With the growing number of businesses entering and expanding their presence, a steady demand for highly skilled talent, particularly within the technical and professional sectors will continue. Experienced talent within the information technology, digital sales and marketing as well as life sciences sectors will particularly be sought-after.

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key highlights from the 2020 market outlook and salary snapshot

  • in-demand jobs and skills in key market-driving sectors and salary benchmarks
  • anticipated job mobility of professionals across different seniority levels and industries
  • contracting as a workforce response to tighter HR budgets 

industries and salary benchmarks covered in the report include:

  • accounting & finance 
  • banking & financial services 
  • construction, property & engineering
  • human resources & business support 
  • insurance
  • life sciences 
  • sales, marketing and communications
  • supply chain, sourcing & procurement 
  • information technology