And this trend is set to continue.
It has been noted that the roles of CIOs are increasingly being given more importance in Hong Kong, which itself has been observed as a leading incubator of the Asia Pacific's digital and fintech capability.
According to a release from Harvey Nash and KPMG, James O'Callaghan, Partner, KPMG China, said: “With the emergence of the CDO, and the repositioning of roles between technology, data and digital we see the Hong Kong market as a leading incubator for much of the digital and fintech capability and talent in the region. It is reassuring that CIOs in Hong Kong are increasingly getting a seat at the C-level executive table and helping to shape the direction of business.
We think that this trend will continue especially given the emergence of fintech and the innovation agenda in Hong Kong and its development as an Asia hub in this space.”
Now in its 18th year, the Harvey Nash/KPMG CIO Survey is the largest IT leadership survey in the world, and this year’s results offer fascinating insight into the issues faced by CIOs across China and Hong Kong. Further, according to the survey, 26 per cent of CIOs in Hong Kong report directly to the CEO, 7 per cent less than the regional average, and 50 per cent sit on a board or executive management team versus the APAC average of 53 per cent. Sixty eight per cent of CIOs in Hong Kong felt their role was becoming more strategic, 4 per cent behind the rest of the region.
Here's more from Harvey Nash and KPMG:
In Hong Kong, the most required skillsets are data analytics, mobile solutions and digital. The proportion of CIOs in Greater China who plan to increase their technology headcount stands at 52 per cent, (8 percentage points more than the global average at 44 per cent, and 5 percentage points more than the APAC average at 47 per cent) which highlights that in the APAC war for talent, China may have the upper hand.
Life for a CIO in Hong Kong: The majority of Hong Kong CIOs find their roles rewarding – with 86 per cent saying their roles are either quite or very fulfilling – the highest in APAC alongside Singapore.
Just under a third (32 per cent) of the city’s CIOs received a pay rise in the last year, 9 percentage points behind the APAC average.
68 per cent of CIOs in Hong Kong earn more than US$200,000 a year, ahead of the APAC region (40 per cent). The average salary of a CIO in Hong Kong is between
USD$220,000 and US$239,000.
IT budgets are increasing, but not in-line with the rest of the world – 40 per cent received a budget increase in the last year, 5 percentage points behind the global average.
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