Hong Kong's brain drain worsens as expats, locals flee city

ing with mainland China's Covid Zero strategy.

Still, for many Hong Kong expatriates and foreign companies, the impact of the security law was tolerable, or even welcome, as it put an end to months of disruptive protests. A more pivotal factor in deciding to leave or stay is the virus strategy, which now is becoming even more draconian, with almost all arrivals requiring 21 days in isolation, large numbers of incoming flights slashed and no timetable on the mainland border re-opening.

The following show the impact of Covid Zero and the national security law across different aspects of Hong Kong's economy and society:Hong Kong's population decreased at a record pace in the 12 months that ended in June. The city saw an outflow of 89,200 residents, leaving its population at about 7.39 million, according to government data. That maintains the 1.2 per cent rate of population decline set at the end of 2020, the biggest drop in at least six decades.

German multinational BASF plans to move its regional division to Singapore this month, according to a LinkedIn post by its Asia-Pacific president. A December study by the British Chamber of Commerce said that"as the rest of the world opens up to international travel, there is a risk that Hong Kong will become increasingly isolated as an international business centre."

straits_times Funny: the ST always publishes the Bloomberg articles criticising HK but never the Bloomberg articles criticising Singapore. Wonder why….

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