Asia's Financial Professionals Hold Negative Economic Outlook

Three in ten Hong-Kong -based finance professionals (29%) claim their confidence in the Hong Kong economy has decreased in the last 6 months, according to eFinancialCareers' 2013 APAC Employment Survey results on finance professionals’ confidence in economic outlook and employment prospects.  


Asked why their confidence had decreased, a quarter (26%) cited the poor government strategy, followed by the global economic conditions (23%), and the instability in global financial markets (17%).


“As a global financial centre its no surprise that our respondents attributed the global economic conditions and instability as key reasons for a loss of confidence," says eFinancialCareers Managing Director APAC George McFerran.


"However, by highlighting poor government strategy, finance professionals clearly believe Hong Kong could be in a far stronger position.”


When asked about the next 6 months, a third (34%) of finance professionals in Hong Kong forecast a weaker performing Hong Kong economy. Over half (54%) believe the same for their local economy in Singapore and over half (52%) in Australia.


eFinancialCareers’ survey also shows that finance professionals believe their company performance over the past 6 months has hindered their career prospects.


Four in ten (42%) of finance professionals in Hong Kong, as well as in Australia (43%), said their prospects have deteriorated.


“These results highlight real uncertainty in the market and illustrate the close relationship between business confidence and an individual career prospects,” notes McFerran. “As much as three in ten of our respondents were uncertain they could find a position matching their experience and compensation in the next 6 months if they needed to, and a further one in ten thought it was unlikely”


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