Executives home in on local courses
The demand for executive education in Hong Kong has increased sharply over the past 18 months as firms shun overseas courses in favour of homegrown ones, with one university seeing a five-fold leap.
The trend among large local companies and multinationals is both a cost-cutting measure and an effort to train more staff.
Hong Kong University of Science and Technology (HKUST), which began offering executive training programmes in 1998, has seen demand increase by 500 per cent.
The number of custom-made courses jumped from five in 1998 to 18 last year and the figure is expected to rise again this year. The university includes the Government and a number of large commercial companies on its books.
'We are now in discussions with big banks and property development companies who are under pressure to develop their people and have come to realise there are good local schools in Hong Kong,' said Kitty Chan Wai-chu, director of executive programmes and external development in the School of Business Management.
As a result of the trend, the University of Hong Kong launched a five-year plan to target corporate accounts last year.