HK's workforce revived by talent influx, labor chief reports

Secretary for Labour and Welfare Chris Sun Yuk-han revealed that the city’s various talent admission schemes have received around 510,000 applications as of last month, with 340,000 approved and more than 220,000 individuals having already arrived in Hong Kong.

One of the key initiatives, the Top Talent Pass Scheme (TTPS), launched in December 2022, has seen its first batch of applicants apply for visa renewals. 

Sun described the renewal rate as "quite encouraging," with official statistics to be released within two weeks.

Sun highlighted that the influx of overseas professionals—many bringing their families—has helped replenish Hong Kong’s labor force and counteracted population loss. 

For example, between early 2023 and June this year, over 100,000 dependents arrived under the TTPS alone.

This wave of "new blood" has reversed the pandemic-era decline in Hong Kong’s working population and offset the effects of natural population decrease, stabilizing overall numbers.

Economic contributions and housing market impact

Most newcomers have successfully found jobs, particularly in finance, innovation, IT, and commerce—key industries driving Hong Kong’s economy.

Sun also noted that overseas talent has boosted housing demand. From December 2022 to June 2025, private residential rents rose by over 10 percent, yet the vacancy rate remained steady. 

He attributed this to new demand from talent offsetting the shrinking young adult demographic (aged 20-34), which traditionally fuels the housing market.