Final Report - Professional Services Activities Environmental Scan Final Report - Professional Services Activities En | Page 93

7.9 Key Drivers and Barriers of Industry Growth
Overall, companies feel that their industry growth is mainly driven by government’s focus on
boosting the growth of the industry, followed by the advancement of technology in increasing
productivity and efficiency. In terms of key barriers to growth, more than half of the companies
indicated less attractive salary and benefits, and the lack of skilled human capital as the top
barrier of growth.
Table 39: Top 3 Drivers of Growth in the Professional Services
Government’s focus on boosting the
growth of the sector
Government financial aid / incentives
Government policy in attracting talent
Advancement of technology in
increasing productivity and efficiency
Increasing talent supply within the
industry
Strong industry associations to steer
industry development
Increasing foreign investment in the
industry
Others
Top
1 Top
2 Top
3 Total Percent-age
143 49 73 265 61%
67
32 73
63 42
56 182
151 42%
35%
61 78 69 208 48%
76 56 57 189 44%
35 65 63 163 38%
9 11 21 41 9%
9 2 8 19 4%
Table 40: Top 3 Drivers of Growth in the Professional Services by Industry
Accounting Advertising
Government’s focus on
boosting the growth of
the sector
Government financial aid
/ incentives
Government policy in
attracting talent
Advancement of
technology in increasing
Architectural Engineering Land &
Quantity
Surveying
53% 77% 80% 67% 65%
37% 38% 28% 56% 52%
36% 15% 33% 34% 38%
59% 54% 46% 40% 52%
Environmental Scan – Professional Services Activities
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