As Hong Kong's population has now declined 1.6% to 7.29 million with the labor force losing 116,000 people aged 18-39 over the past two years, Hong Kong's shrinking pool of talent threatens its competitiveness and status as a financial hub. Even as the government releases a raft of measures, including tax breaks and looser visa rules, aimed at reversing a brain drain fueled by strict COVID-19 measures, the talent shortages continue to pose an existential threat to businesses. To tackle this growing scarcity, Hong Kong is competing with other countries in rolling out new approaches to attract, nurture, and retain talent.
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