IDC Identifies Greater China as Potential Gold Mine for eRecruiting Firms
FRAMINGHAM, MA – APRIL 17, 2001 – If you’re a recruiter looking for a golden opportunity, IDC says you should head east – Far East. According to the global market intelligence and advisory firm, Greater China – China, Hong Kong, and Taiwan – represent a gold mine of untapped opportunity for the erecruiting market.
"Several factors in addition to the region’s large population contribute to our belief that online executive search firms, online job boards, Internet media and services firms, and niche recruitment sites have an excellent opportunity to increase their business in Greater China," said Ellen Julian, director of Career and Learning Services at IDC. "Like in other rapidly developing markets, enterprises in Greater China are experiencing a shortage of high-level managers and skilled individuals in a variety of vertical industries and occupations. These factors, combined with a loosening of government restrictions on the Internet market, make the region ripe for erecruiting."
IDC estimates erecruiting in Greater China will generate nearly US$500 million by 2004 – remarkable considering the market was under US$5 million in 1999. Seizing this opportunity won’t be without its challenges, however. According to IDC, Taiwanese and Chinese Internet users strongly prefer to surf the Web in their native languages. "Recruiting sites in these countries that aren’t steeped in local language and culture will face an uphill battle," warned Christopher Boone, an analyst for IDC’s eRecruiting research program. "Also, the soft Internet advertising climate can be seen as a serious inhibitor of online recruitment Web sites in Greater China, which receive a large portion of their revenue from advertising."
Nevertheless, IDC is optimistic about erecruiting’s potential in Greater China. "In the short term, job seekers and employers will be drawn to the Internet as a resource for recruiting. Longer term, they will be drawn to the Internet as a source of career management activities," Boone said.
IDC recently published The eRecruiting Market in Greater China: Forecast and Analysis, 2000-2004 (IDC #B24222). This report forecasts revenue in Greater China’s erecruiting market through 2004, segmented by the following countries: China, Hong Kong, and Taiwan. Regional trends in each country are examined. Overall market drivers and inhibitors are discussed in detail. Additionally, the report includes a listing of executive search firms, Internet media and services firms, online job boards, and targeted specialty sites that currently serve the market.
To purchase this report, contact Jim Nagle at 1-800-343-4952, extension 4549, or at firstname.lastname@example.org.
IDC is the foremost global market intelligence and advisory firm helping clients gain insight into technology and ebusiness trends to develop sound business strategies. Using a combination of rigorous primary research, in-depth analysis, and client interaction, IDC forecasts worldwide markets and trends to deliver dependable service and client advice. More than 700 analysts in 43 countries provide global research with local content. IDC's customers comprise the world’s leading IT suppliers, IT organizations, ebusiness companies and the financial community. Additional information can be found at www.idc.com.
IDC is a division of IDG, the world's leading IT media, research and exposition company.
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