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Who is returning to HK, Anecdotal Evidence - Part 1

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  1. #21

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    Quote Originally Posted by shri:
    You know what my FPS ID is ...
    11am.... too late!
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  2. #22

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    Quote Originally Posted by TheBrit:
    11am.... too late!
    It is still before 11AM somewhere in the world!

  3. #23

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    Quote Originally Posted by TheBrit:
    11am.... too late!
    I thought he purposely drank coffee for 1 hour or walked 5 extra miles to do it after 11 and make me loose..

  4. #24

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    My own observation is largely of people in my age group where the tide is outward, no one I can think of has come back but I appreciate that people will come to HK if there is opportunity for them. Some in my age group are essentially leaving to acquire passports (British or Canadian) and say that they will return once they do. Those who are staying still see opportunities here for now but even some of those ones say that they would leave if better opportunities came up.

    Some business people who I know want to have their feet in places out of HK to keep their options open. HK no longer has 100% confidence, everyone has backup plans in their pockets.

    ndt and spode like this.

  5. #25

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    HK no long has 100% confidence, everyone has backup plans in their pockets.
    We have a thread for leaving and a thread for returning, probably need one more for potentially leaving or leaving in pipeline , on a serious note personally i know many (locals) in my workplace who are here for few more years to collect as much as they can depending on their kid's age but definitely want to leave eventually as schooling and education is rapidly deterorating and also want second option for kids and themselves as well.. So overall seems like leaving or returning, HK will have high churn rate in medium term for sure..

  6. #26

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    Quote Originally Posted by RobRoy:
    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.
    Salaries are sky high everywhere else too so the advantage is really just the low tax partially negated by cheaper rent. It's just a matter of time before prices skyrocket here too. Hong Kong is the only place in the world that raises prices when the economy is good and raises prices when the economy is bad.

  7. #27

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    Quote Originally Posted by ndt:
    We have a thread for leaving and a thread for returning, probably need one more for potentially leaving or leaving in pipeline , on a serious note personally i know many (locals) in my workplace who are here for few more years to collect as much as they can depending on their kid's age but definitely want to leave eventually as schooling and education is rapidly deterorating and also want second option for kids and themselves as well.. So overall seems like leaving or returning, HK will have high churn rate in medium term for sure..
    This is sort of me/ us. We plan to leave in 6 years when I would be retiring 'early' and my daughter ready for secondary school. I grew up in the UK, but poor and working class and attended the local comprehensive. It makes it difficult to compare my daughters experience in an International school, but she seems to be having much much much more fun that i ever had, both in terms of school and extra-curriculars. My wife who has lived her whole life in HK will probably have quite the culture shock.
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  8. #28

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    I think it depends where you moved to, and how rich you are. The UK for example is looking pretty grim just now for anyone other than the wealthy, we would be kicking ourselves if we'd bailed to move there 6 months ago. Of course if you're very well off then the UK's issues don't impact you much.


  9. #29

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    Quote Originally Posted by seirin:
    Salaries are sky high everywhere else too so the advantage is really just the low tax partially negated by cheaper rent. It's just a matter of time before prices skyrocket here too. Hong Kong is the only place in the world that raises prices when the economy is good and raises prices when the economy is bad.
    Nah, its basically only North America that is also good on the income front, pretty harsh times in UK/EU. And even in US the rent levels are killing much of the gains. Whereas HK has this sweet-spot right now of salary increases due to supply/demand inbalance, salary in USD, which is super strong, low tax AND "low" rents (at least in comparison to after tax salaries).

    I agree though that the sweet-spot is unlikely to last
    Mrs. Jones and Beanieskis like this.

  10. #30

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    Quote Originally Posted by FrancisX:
    Did they emigrate or just leave HK to avoid Covid nonsense? Very unlikely anyone who moved entire lives overseas are suddenly rushing back.
    The grass is always greener on the other side. I know a well to do family that moved back simply without any troubles. They didn't sell their home and their car was parked illegally in some middle of nowhere road in NT. But I could also envision those with less financial means doing so if they couldn't find a job or a job they were satisfied with.

    There used to be a derogatory expression for white (mostly British) guys who came to HK pre-1997 when they could freely come and work: FILTH - "Failed in London. Try Hongkong". Would be interesting to see it being applied to Hongkongers on their return.

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