Opinion | Asian talent competition in the new tech age | fDi Intelligence – Your source for foreign direct investment information

Competition between Asian locations to attract and retain talent, especially researchers and engineers, remains strong. Traditional Asian sectors and established multinationals are losing talent to ‘new age’ companies, including disruptive start-ups and those working in areas like cryptocurrencies and electric vehicles.

The Conference Board, a think tank, reports that talent shortages are most acutely felt in critical areas such as tech, cybersecurity, analytics and e-commerce. A 2022 survey by PwC also found that just 57% of employees in Asia-Pacific were satisfied with their job. Amid these dynamics, non-financial rewards such as flexibility, focus on wellbeing and inclusive work cultures matter even more to retain employees and attract new potential hires. 

Border restrictions and political instability in some key markets are also aggravating talent shortages in Asia. Hong Kong…