Hong Kong to face 130k manpower shortage in 2028 – 50k less than previously projected

Hong Kong is set to experience a manpower shortage of approximately 130,000 by 2028, according to new government figures. This is a substantial decrease from the previously projected 180,000 workers. The Labour and Welfare Bureau unveiled this information at a press conference on Thursday, following the announcement of Hong Kong's first Five-Year Plan and fifth Policy Address by Chief Executive John Lee.

Secretary for Labour and Welfare Chris Sun attributed the reduction to government initiatives aimed at developing artificial intelligence and attracting top talent from abroad. He estimated that without these schemes, the city would be around 300,000 workers short in 2028. Sun also announced that visa holders of the Top Talent Pass Scheme (TTPS) will face further relaxations, particularly for those working in start-ups based in designated innovation parks.

Additionally, in line with the Policy Address, the government plans to launch a 30,000 Youth Employment and Internship Programme to boost youth employment. This initiative, to be implemented over the next two years, will create around 10,000 new jobs specifically for Hong Kong permanent residents under 29, without any educational prerequisites.

The Labour and Welfare Bureau will collaborate with major chambers of commerce to encourage private companies to generate additional positions, with the government covering one-third of the salaries for these roles, which must have a minimum employment term of six months.