The Times Australia
News From Asia

.

53% of Hong Kong Firms Target GBA for Growth, Driven by Innovation and Market Potential

HONG KONG SAR - Media OutReach Newswire - 21 March 2024 - The Page Insights C-suite Confidence Insights report for 2024 has unveiled findings, highlighting the Greater Bay Area (GBA) as the epicenter of business expansion and innovation for Hong Kong companies.

An impressive 53% of businesses in Hong Kong are setting their sights on the GBA, incentivised by its expansive market opportunities, technological innovation and supportive government policies.

This research conducted across 277 C-suite and senior management leaders across the Chinese Mainland, Hong Kong and Taiwan offer a detailed outlook on the Greater China's business landscape for 2024. These are told from the lens of top decision makers from the region's prominent companies.

"The 2024 Page Insights C-suite Confidence Insights report marks a transformative period for Hong Kong's business sector, emphasising the pivotal role of the GBA in shaping a future rooted in strategic expansion and progressive innovation," stated Rupert Forster, Senior Managing Director at Michael Page Greater China.

"This report reflects the buoyant optimism amongst business leaders and highlights their commitment to seize emerging opportunities, draw in top-tier talent, and stimulate economic growth. The GBA stands as a vibrant hub of untapped potential, positioning Hong Kong's businesses ahead of the economy."

The sectors at the forefront include Banking & Financial Services, Technology, FMCG, Healthcare & Life Sciences, and Industrial & Manufacturing. These industries, driven by innovation and technological advancement, are poised to lead the expansion into the GBA, showcasing the region's ability to attract diverse business interests.

Amidst this environment of growth and expansion, the sentiment among C-suite leaders in Hong Kong is positive. With confidence scores of 6.8 (out of 10) for company outlook and 6.7 for industry outlook, the report indicates a sense of optimism about the future. This optimism is grounded by strategic planning at the C-Suite level and a clear vision for 2024 and beyond.

In addition, the report highlights a strategic shift in hiring needs, with an increase in roles within sales, marketing, technology, and R&D sectors. This shift reflects the industries' progression towards innovation and indicates a broader trend of adapting to the changing business landscape. On the opposite side, there's a strategic reduction in roles within finance, legal, HR, and administration, signaling a move towards leaner, more efficient operational models.

The report's insights into the strategic importance of the GBA, coupled with a proactive approach to talent acquisition and business development, position Hong Kong as a central hub for innovation and economic growth in the region.

Hashtag: #MichaelPage

The issuer is solely responsible for the content of this announcement.

Times Magazine

Building an AI-First Culture in Your Company

AI isn't just something to think about anymore - it's becoming part of how we live and work, whether we like it or not. At the office, it definitely helps us move faster. But here's the thing: just using tools like ChatGPT or plugging AI into your wo...

Data Management Isn't Just About Tech—Here’s Why It’s a Human Problem Too

Photo by Kevin Kuby Manuel O. Diaz Jr.We live in a world drowning in data. Every click, swipe, medical scan, and financial transaction generates information, so much that managing it all has become one of the biggest challenges of our digital age. Bu...

Headless CMS in Digital Twins and 3D Product Experiences

Image by freepik As the metaverse becomes more advanced and accessible, it's clear that multiple sectors will use digital twins and 3D product experiences to visualize, connect, and streamline efforts better. A digital twin is a virtual replica of ...

The Decline of Hyper-Casual: How Mid-Core Mobile Games Took Over in 2025

In recent years, the mobile gaming landscape has undergone a significant transformation, with mid-core mobile games emerging as the dominant force in app stores by 2025. This shift is underpinned by changing user habits and evolving monetization tr...

Understanding ITIL 4 and PRINCE2 Project Management Synergy

Key Highlights ITIL 4 focuses on IT service management, emphasising continual improvement and value creation through modern digital transformation approaches. PRINCE2 project management supports systematic planning and execution of projects wit...

What AI Adoption Means for the Future of Workplace Risk Management

Image by freepik As industrial operations become more complex and fast-paced, the risks faced by workers and employers alike continue to grow. Traditional safety models—reliant on manual oversight, reactive investigations, and standardised checklist...

The Times Features

What Is the Dreamtime? Understanding Aboriginal Creation Stories Through Art

Aboriginal culture is built on the deep and important meaning of Dreamtime, which links beliefs and history with the elements that make life. It’s not just myths; the Dreamtime i...

How Short-Term Lenders Offer Long-Lasting Benefits in Australia

In the world of personal and business finance, short-term lenders are often viewed as temporary fixes—quick solutions for urgent cash needs. However, in Australia, short-term len...

Why School Breaks Are the Perfect Time to Build Real Game Skills

School holidays provide uninterrupted time to focus on individual skill development Players often return sharper and more confident after structured break-time training Holid...

Why This Elegant Diamond Cut Is Becoming the First Choice for Modern Proposals

Personalised engagement styles are replacing one-size-fits-all traditions A rising diamond cut offers timeless elegance with a softer aesthetic Its flexible design wo...

Is sleeping a lot actually bad for your health? A sleep scientist explains

We’re constantly being reminded by news articles and social media posts that we should be getting more sleep. You probably don’t need to hear it again – not sleeping enough i...

Ricoh Launches IM C401F A4 Colour MFP to Boost Speed and Security in Hybrid Workplaces

Ricoh, a leading provider of smart workplace technology, today launched the RICOH IM C401F, an enterprise-grade A4 colour desktop multifunction printer (MFP) designed for Austral...