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Who is returning to HK, Anecdotal Evidence - Part 1

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  1. #11

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    Actually we know 3 couples who left in the first half of the year, two to the UK and one to France/Luxembourg. All were intended to be permanent departures at the time.

    One UK couple back already, helped by the fact they both had global jobs which could be done in the UK but both companies ultimately preferred to have them over here. One of the companies was even soft enough to pay for both relocations

    Couple in France coming back in January... there is a long narrative but I think they mostly just missed having two helpers / sea view / tennis courts and pool. The other UK bound couple are also now seriously considering coming back.

    Definitely not representative, but neither is the totally downbeat attitude so many people on here seem to have.

    Beanieskis and Insomnia like this.

  2. #12

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    Quote Originally Posted by Peaky:
    Actually we know 3 couples who left in the first half of the year, two to the UK and one to France/Luxembourg. All were intended to be permanent departures at the time.

    One UK couple back already, helped by the fact they both had global jobs which could be done in the UK but both companies ultimately preferred to have them over here. One of the companies was even soft enough to pay for both relocations

    Couple in France coming back in January... there is a long narrative but I think they mostly just missed having two helpers / sea view / tennis courts and pool. The other UK bound couple are also now seriously considering coming back.

    Definitely not representative, but neither is the totally downbeat attitude so many people on here seem to have.
    We shall see what the numbers say. Is the flow back bigger than the flow out?

  3. #13

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    Definitely not representative, but neither is the totally downbeat attitude so many people on here seem to have.
    I am always of the belief that people follow opportunity and money, everything else is a noise many eventually adjust/adapt to.. Always thought one set of people will be replaced by another and new set will get used to new normal but more and more it seems like even many in old bunch are willing to adjust to new normal..

    Executive recruiters, who have an interest in luring people back, are predictably optimistic.

    “I’ve seen a lot of interest from people, particularly expats who left to Europe or London,” said Loretta Chan, Hong Kong-based partner at executive search firm Wellesley Partners, which focuses on the financial services industry. “I’ve seen them come back.”
    https://www.thestandard.com.hk/break...99---Bloomberg

  4. #14

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    The after tax salary vs cost of living levels in HK right now is very attractive. To me it feels rents in expat districts are around 10 year lows, whereas salaries are at 10 year highs. This will drive people back. The window to lock in a 2 year rental at a great deal is closing pretty fast in my view. After next summer it will probably be gone.


  5. #15

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    Side bet - last 10-15 posts will generate new thread 'Who is returning to HK, Anecdotal Evidence - Part 1' before 11 am..

    shri, hullexile, Peaky and 1 others like this.

  6. #16

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    If the trend continues and HK keeps with the reopening, I have no doubt that new and old expats will be back. If the money and the lifestyle is there, it's an easy prediction. For locals, it's a completely different story, in my opinion, the reasons for leaving are very different.


  7. #17

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    Quote Originally Posted by hullexile:
    We shall see what the numbers say. Is the flow back bigger than the flow out?
    Probably not but does confirm my anecdotal experience that the main push factor for expats was Covid - with the exception of some fields affected directly by NSL like journalism. Now that Covid policies are relaxing people are willing to come back.

    For locals the main push factor has always been China and NSL, and that hasn’t changed so the outflow there will continue.

    As I’ve said before meeting plenty of new expats under 30 who came in 2022 and say they’re pretty happy here on balance. But they have nothing to compare it to.
    Beanieskis likes this.

  8. #18

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    Quote Originally Posted by merchantms:
    As I’ve said before meeting plenty of new expats under 30 who came in 2022 and say they’re pretty happy here on balance. But they have nothing to compare it to.
    I know several young expats under or near 30 that have gotten executive jobs that they might not have in previous years so this gigantic mess did benefit some people

  9. #19

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    Also there are people that will see a great opportunity to buy HK property now with a discount around 20% and will be motivated to return and easily make a few million dollars or more over the next few years. This will of course be only a few smart people that act quickly now, most people dont see the big picture and just do nothing and then smack themselves in the head in two years from now and think "why the hell didnt I buy back in late 2022 when it was obviously at the bottom".

    Mrs. Jones likes this.

  10. #20

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    Quote Originally Posted by ndt:
    Side bet - last 10-15 posts will generate new thread 'Who is returning to HK, Anecdotal Evidence - Part 1' before 11 am..
    You know what my FPS ID is ...
    ndt likes this.

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