Many expats are leaving HongKong

[HongKong_Great]

I've heard or read in the news that many expats are leaving HongKong. Is the economoy of HK will come back like before?

[hullexile]

I've heard or read in the news that many expats are leaving HongKong. Is the economoy of HK will come back like before?

To be fair expats are always leaving Hong Kong and others arrive. Half the posters on here have left. Is there really a significant number leaving at the moment?

[sv336]

To be fair expats are always leaving Hong Kong and others arrive. Half the posters on here have left. Is there really a significant number leaving at the moment?

I posted a video a couple of weeks ago where a relo company guy was saying that he's working with single digit inbounds, whereas the outbounds are consistently high. There was also a series of articles last spring on how the avg. expat package is getting smaller: less high-flying bankers, more mid-level engineers (French). Proportionally, the French represent a greater chunk of expats than some years ago. Escaping their home country taxation and happy enough with the limited English on the streets. The old times are definitely over.

[DimSumBond]

The only expats I can see entering Hong Kong and Singapore are from France.

Everyone else has long gone.

Peak Hong Kong had a very a long run. It ended in 2013 for those who are unable to see this.

[kimwy66]

The only expats I can see entering Hong Kong and Singapore are from France.

Everyone else has long gone.

Peak Hong Kong had a very a long run. It ended in 2013 for those who are unable to see this.

Depends which industry you are in. Engineering and construction are bouyant again after the bridge finished. Economic stimulus = build big things in HK speak. (there are some big French construction companies here, but also UK, Canadian, Australian consultancies)

[MatthieuTofu]

I've heard or read in the news that many expats are leaving HongKong. Is the economoy of HK will come back like before?

With the virus, more people or leaving than coming in that’s for sure.
When this is all over we’ll be seeing a continuation in the trend that started a year or two ago. Less families, younger chaps (single) coming in from Europe. The political turmoil that will continue after the outbreak ends will only accentuate this trend. Very few families would move here when HK is on the news weekly with the unrest making headlines.

Regarding the second question. No HK will never be the same as pre-June 2019. Almost certainly less big luxury brands, a less retail based economy.

TL;DR HK changes all the time anyway. The expats come and go.
Quick example with the French community: back 10-12 years ago a lot of them were here for construction firms, now that most of the contracts now go to Chinese firms, most French expats (on expat contracts) now either work in retail, marketing, things that relate to tourism.

[HongKong_Great]

How about the tourism? I'm in the hospitality industry.

[RMDNC]

Most of the current expats, if you can call them that, are younger drifters. Younger folks who could not land a job out of college in their home countries. Eventually they end up on the Mainland with teaching positions. Also some sexpats using HK as a base station for their crimes in places like Thailand. The golden era for expats ended long ago. Whereas HK is not Mainland dominated in business, its not a bad thing.

[kimwy66]

TL;DR HK changes all the time anyway. The expats come and go.
Quick example with the French community: back 10-12 years ago a lot of them were here for construction firms, now that most of the contracts now go to Chinese firms, most French expats (on expat contracts) now either work in retail, marketing, things that relate to tourism.

Dragages / Bouygues are still doing well here and have / had a number of large contracts recently.

[Skyhook]

To be fair expats are always leaving Hong Kong and others arrive. Half the posters on here have left. Is there really a significant number leaving at the moment?

I think if you speak to some of the relocation company's you'll find out that expats leaving with children have substantially risen over the last 3 months, when usually they're usually flat out in June.

I don't think Hong Kong will climb out of this predicament and certainly will be, dynamically, quite a different place ahead, compared to the past familiar colonial past.