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Hong Kong is fast becoming one of the hottest markets in the Asia Pacific region, with companies rapidly hiring new talent to meet the demands of the global market. According to Deel Lab’s “State of Global Hiring Report,” Hong Kong ranks as the second fastest-growing market in APAC for hiring, with Australia leading the way and India coming in third.

The report is based on a study of more than 260,000 worker contracts across 160 countries, revealing that global hiring grew across all regions in 2022, with APAC leading the way. Of all contracts signed last year, 89% were for remote roles. Hong Kong companies are among those seeking to hire remote workers from around the globe to fill talent gaps.

The report found that Hong Kong-based companies are commonly hiring remote workers from countries such as Ukraine, India, the Philippines, the UK, and the US. The top five roles Hong Kong companies are hiring for are software engineers, marketing professionals, business development and sales specialists, project managers, and developers.

At the same time, Hong Kong talents are being sought after by global companies for remote work, with US-based companies leading the way, followed by the UK, Canada, Singapore, and Denmark. Hong Kong-based workers are most commonly hired for roles such as software engineer, statistician, product manager, trader, and sales.

What’s interesting is that it’s the younger generations who are capturing these global work opportunities. Post-90s and post-80s in Hong Kong are the most open to remote work, with 67% of those born in the 90s-00s and 25.4% of those born in the 80s capturing these opportunities. Only 7.6% of those born in the 70s are embracing remote work opportunities.

In the broader APAC region, the Philippines is the hottest market to hire from, with APAC companies hiring globally at the fastest rate of all regions. The top five roles that global organizations are hiring are software engineers and developers, product designers, product managers, quality assurance engineers, and project managers. In APAC, software engineers, sales, and product roles emerged as the top three most popular roles hired.

Karen Ng, Regional Head of Expansion & Market Lead in Hong Kong, Singapore, ASEAN, and India, said, “The talent shortage is still a pain point, but we’re seeing Hong Kong companies looking globally to fill talent gaps in the market and are adding more remote workers to their workforce – even as the city is opening up. We expect this trend to stay – not only for the year ahead but in the long term.”

“By now we know that Hong Kong’s workforce wants more flexibility, and we are pleased to see that companies are also embracing this future of work and are using global hiring as a way to access the best talent they can get without being restricted by geographical borders,” Ng added.

In conclusion, the report reveals that Hong Kong is becoming a hotbed for global talent, with companies embracing remote work to stay competitive and nimble. With a younger generation leading the way in capturing global work opportunities, and companies now having more sophisticated HR strategies, corporate infrastructure, and digital tools to support a global and hybrid workforce, it’s clear that Hong Kong is set to stay at the forefront of the global hiring market.