Hong Kong ranked fifth globally by young adults as the best city for economic prospects and first among global cities in terms of education and training. However, discontent among local young adults has been revealed with a score of second to last in optimism about their future as well as in income inequality, according to a survey by the Economist Intelligence Unit. 

The survey, which involved 5,250 young adults aged 18 to 25 in 35 global cities, analysed four broad categories to determine the rankings, including government support and institutional framework; employment and entrepreneurship; education and training; and human and social capital.  

While results have shown that Hong Kong is ranked fifth in an overall index of external factors in young people’s success after Toronto, New York, Chicago and Singapore, it was placed third from bottom in the survey on the question of employment growth, and fared worst in human and social capital with a rank of 15. Only young people from Seoul were seen to be less optimistic than their Hong Kong counterparts.


Commentary by Deanna Kwok, Assistant Manager, Marketing Services

The positive economic outlook and good performance by cities in supporting the education infrastructure for young people does not necessarily lead to positive perceptions of their economic prospects. The results also suggest that such shot-term statistics do not reflect the real opportunities and challenges that young people are facing. Future uncertainties have made people in Hong Kong pessimistic. Hong Kong youth, especially, tend to take a comparatively dim view of their economic prospects, despite the solid support in education and skills training by the HKSAR. The negative perception is mostly likely resulted from Hong Kong’s widening income inequality, sluggish income growth and the recent political situation.

The widespread discontent with the local education system has driven mobility to the UK, resulting in a record increase in interest in the UK as an alternative to local higher education.  


Source: http://www.scmp.com/news/hong-kong/economy/article/1937572/hong-kong-ranks-fifth-globally-economic-strategy-young-people

For further insight into the Hong Kong market environment, please contact deanna.kwok@britishcouncil.org.hk