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LettersHong Kong isn’t investing enough in home-grown talent
- Readers discuss the declining government expenditure on education in Hong Kong, and the shortcomings of the latest policy address
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Talent is the driving force in the development of innovation and technology. However, the policy address only focuses on attracting global talent, when cultivating local talent is equally critical.
Hong Kong has lagged behind developed economies in terms of investment in the nurturing of local talent, according to international reports. While our GDP per capita is ranked 25th in the world, ahead of countries like Germany, we are ranked low for education expenditure as a share of GDP: 53rd out of 63 economies in the IMD World Talent Ranking 2020, and 76th out of 132 economies in the Global Innovation Index 2021.
Further, a report, “Nurturing of local talent”, by the Legislative Council Secretariat pointed out that the share of education expenditure in total government expenditure has continued to decline from 20.1 per cent in 2010-2011 to 15.4 per cent in the budget for 2021-2022. At the same time, the estimated recurrent government expenditure on education in 2021-2022 will increase by only 3.7 per cent, which is far below social welfare (16.2 per cent) and health (7.9 per cent). This raises doubts about the government’s commitment to education.
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