Finance professionals not abandoning Hong Kong

Despite the tough times, 82% of financial professionals now in Hong Kong would rather stay put until the global financial crisis blows over.

A survey by eFinancialCareers said the professionals surveyed have no intention of leaving Hong Kong, and its stable and well-developed economy. The survey talked to 653 finance professionals working in the city’s investment banks.

Most respondents recognize Hong Kong as an ideal market where finance professionals can wait out the downturn, with 81% saying they would recommend the city to their peers in the same field.

These professionals are also least likely to move out compared to their peers in the Asia Pacific region, according to the survey.

A quarter of professionals liked Hong Kong because the city is a safe place to live in. About18% like the city's low taxes while 16% preferred the city’s job opportunities.

"As the Hong Kong market maintains its stability and continues to benefit from the mainland-driven growth amid the global economic lull, local finance professionals appreciate what Hong Kong has to offer now more than ever," said George McFerran, eFinancialCareers's managing director.

The survey also showed that 84% of respondents are not considering relocating to the mainland. The recent spate of mass firings in the financial services sector is convincing more of the respondents to consider other careers.

Some 50% said they were prepared to shift their careers to other industries to ride out the financial storm while remaining in Hong Kong. About 43% said sectors outside financial services may offer more job opportunities at the moment.

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