Could now be the best time to get finance jobs in Hong Kong?

Britons keen to flee the austerity of the UK for a new life and career overseas may wish to consider finance jobs in Hong Kong as the basis for their new start.

Recent figures from Hong Kong's Census and Statistics Department have revealed that unemployment is falling in the special administrative region of the People's Republic of China - which may mean that Britons would be entering more favourable job market conditions than are currently apparent in the UK.

Indeed, during the May to July period of 2010, the seasonally adjusted unemployment rate fell 4.6 per cent from where it stood between April and June.

Meanwhile, total employment was on the up, increasing from 3.492 million in April-June 2010 to 3.5 million in May-July - growth of some 8,100 positions.

During the same period, the labour force also expanded, while the number of unemployed people fell, which all makes a healthy comparison with the trend currently being seen in the UK's jobs market, amid public spending cuts in an attempt to pay back the country's deficit.

All of this may mean that Britons wish to waste no time in kick-starting their search for a new job overseas, but what can they expect when they arrive in Hong Kong?

Paul Jeffels, manager at Round the World Experts, said that Hong Kong is becoming a popular destination as it is halfway between the UK and Australasia.

He added: "It's good value compared to the usual alternatives - Singapore, Los Angeles or New York City in terms of inexpensive food and shopping - and of course there is a huge influence of speaking English."

All of this could help to make people feel welcome when they arrive, while it will also allow Britons to enjoy some of the home comforts they are familiar with in the UK.

Particular hot spots for shopping include Macau and Shenzhen, Mr Jeffels acknowledged, while Hong Kong is also seen as a good access point to China.

In terms of events, Hong Kong has plenty of spectacles to offer that Britons could not expect to see if they were finishing a day's work in the financial services sector's City home in London.

Among these is Chinese New Year, which the Lonely Planet Awards recently revealed was voted the event travellers would most like to attend in the coming year (11.07 per cent), after Carnival in Rio de Janeiro (26.01 per cent).

However, a move abroad is a huge decision and will involve a significant change in lifestyle.

Rhiannon Davies, director of ShelterOffshore.com, recently claimed that the greatest likelihood of a UK expatriate getting into trouble when they start a new life overseas is if they have failed to organise their financial matters and get them in order before jetting off.

She reminded Britons to be "realistic" about whether they will have enough money to afford them a decent standard of living once they arrive.

Other considerations include whether individuals will have access to free healthcare in their new home, or whether they will need to take out insurance.

Ms Davies also recommended giving life abroad a trial run - such as by travelling around Hong Kong for a few weeks or months - before settling there permanently.

"Our advice would be to spend time living in a country on a tourist visa before committing to relocating there - and always rent a property before you consider buying so that you can make sure you really do love the country enough to stay, you have picked the best area of the nation for you and you have spent sufficient time getting to know the lay of the land and the property market and tax laws before buying in," she urged.

By taking these precautions and with the knowledge that things look bright for Hong Kong's jobs market, now could be the time to take that leap and start a new career overseas.

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