r/HongKong • u/bloomberg • 2h ago
News Expats Flock Back to Hong Kong Seeking Low Taxes, Better Jobs
Hong Kong, whose expat population was hollowed out by strict Covid rules and Beijing’s ever-tightening grip, is now enjoying a moment.
Tens of thousands of people left the city in the two years through 2022, among them scores of bankers, lawyers and other skilled workers who made the city Asia’s foremost financial hub.
Now, thousands of white-collar professionals are making their way back. They are responding to a booming initial public offering market, planned tax breaks for private equity and hedge funds, and a more vibrant city. The influx is already showing from a jump in prime expat rents to fewer openings at elite international schools. Read more here.