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Hong Kong expat exodus led by Americans and Brits
| Published: | 17 Aug at 6 PM |
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Hong Kong Immigration Department figures suggest the numbers of British, American and Australian expats has fallen considerably since the beginning of 2015.
During the last six months, the total number of British expats living and working in Hong Kong has fallen by just over 10 per cent, together with eight per cent of US expats and five per cent of Australians packing up and moving on. The majority aren’t heading back to their home countries, but are relocating to North America, Africa and Singapore.
In addition, numbers of Japanese, Malaysian, Portuguese, Indonesian, Japanese and Singaporean expats are also in decline, although the total number of residents in the island city fell by only one per cent due to high numbers of arriving Filipinos looking to work as domestic staff. Hong Kong’s recent collapse to 28th position in a ‘most liveable place in Asia’ survey due to air quality difficulties may well explain why so many former expat residents are now working in more acceptable surroundings.
Another reason for the exodus is the increasingly high cost of living in Hong Kong, together with the trend towards lower salaries and less exalted relocation packages. Expats with families are feeling the financial pinch, and companies are happy to replace them with younger singles costing far less to employ and settle.
According to local media interviews with relocation company bosses, relocation in order to take up new career opportunities is becoming more common than in previous years. Most relocate to the USA, Europe or Australia, with Singapore also a popular alternative. The cost of a major move is cheaper that ever before, with many taking advantage of the savings.
Mainland China is another, newer, destination for career junkies, although family men prefer countries such as Canada for its excellent educational facilities. The massive growth potential of Africa is attracting a good number of expat professionals to larger corporations eager to be part of the continent’s drive towards the first world.
During the last six months, the total number of British expats living and working in Hong Kong has fallen by just over 10 per cent, together with eight per cent of US expats and five per cent of Australians packing up and moving on. The majority aren’t heading back to their home countries, but are relocating to North America, Africa and Singapore.
In addition, numbers of Japanese, Malaysian, Portuguese, Indonesian, Japanese and Singaporean expats are also in decline, although the total number of residents in the island city fell by only one per cent due to high numbers of arriving Filipinos looking to work as domestic staff. Hong Kong’s recent collapse to 28th position in a ‘most liveable place in Asia’ survey due to air quality difficulties may well explain why so many former expat residents are now working in more acceptable surroundings.
Another reason for the exodus is the increasingly high cost of living in Hong Kong, together with the trend towards lower salaries and less exalted relocation packages. Expats with families are feeling the financial pinch, and companies are happy to replace them with younger singles costing far less to employ and settle.
According to local media interviews with relocation company bosses, relocation in order to take up new career opportunities is becoming more common than in previous years. Most relocate to the USA, Europe or Australia, with Singapore also a popular alternative. The cost of a major move is cheaper that ever before, with many taking advantage of the savings.
Mainland China is another, newer, destination for career junkies, although family men prefer countries such as Canada for its excellent educational facilities. The massive growth potential of Africa is attracting a good number of expat professionals to larger corporations eager to be part of the continent’s drive towards the first world.
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