Population projected to hit 8.19m by 2046, with 36pc elderly

Hong Kong's population is projected to reach approximately 8.19 million by 2046, with the elderly aged 65 and over expected to constitute 36 percent of the total population, excluding foreign domestic helpers, according to Chris Sun Yuk-han, Secretary for Labour and Welfare.

During a Legislative Council meeting on Wednesday, Sun reported that the labor force participation rate is expected to decrease from about 55 percent in 2023 to around 52 percent by 2046.

The labor chief during the Legislative Council meeting today outlined in the Report on 2023 Manpower Projection that the local manpower demand is anticipated to rise from 3.55 million in 2023 to 3.75 million in 2028, but Sun noted various sectors will face a manpower shortage over the next five years due to the rapidly aging local population.

Sun stated the government will continue enhancing local talent development and recruiting foreign talent while ensuring that locals remain a priority in employment.

He also highlighted that, following the implementation of proactive talent attraction measures by the end of 2022, over 270,000 applications were approved from the 430,000 received by the end of last year.

Sun believed that over 180,000 skilled individuals, along with their families, would arrive in the city and help fill the gaps in both the population and labor supply.

Furthermore, Sun mentioned that there are no current plans to establish a separate task force to review population policies, as the Human Resources Planning Commission is already exploring relevant policies.