News Forum - Firms warn of Hong Kong talent shortage as expats give up and leave due to ongoing Covid restrictions

[Thaiger]

Investment banks and corporate laws firms are among the businesses warning of an impending talent crunch in Hong Kong as ongoing travel restrictions force expats to give up and leave. According to a Reuters report, Australian lawyer Tania Sibree is one of many foreign professionals heading back home. “The hotel quarantine made it just so tough for people to travel and that was the big incentive to being in Hong Kong, it was close to home and my parents. But you cannot do that long in hotel quarantine with kids. Everyone had been thinking the restrictions would be lifted, it […]

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[Poolie]

This the same Reuters who thought the New Zealand leader was a veritable saint for her 'zero-covid' strategy? Appears so.

There's a plethora of talent just to the north, I shouldn't worry too much.

[Marc26]

I think it has to do more with Financials

 

Expats used to get huge expat packages 

Housing, drivers, maids, schooling for kids

 

Now they get salaries only

 

One of my good friends went over there

 

Him and his wife make at least 300k combined 

Possibly more.

 

They have no savings.

 

They have 2 kids so their rental is like 10k/mo just to have enough room for all of them 

Then add in school tuition

Every day costs are expensive 

 

Leaves them with not much to save 

[AmySukwan]

I think it's a lot of things and cost of living is one. But the three week quarantine after coming back from visiting relatives in the home country or going on a business trip is going to be a huge one. I don't think it will result in Zero Co I'd, but the Zero Carbon folks should be pleased

[dj230]

Elon musk mentioned in China in person meetings are very important, maybe that's why. 

Elsewhere I can't see how "talent" especially in IT couldn't just work online/at-home/remotely. Most of the big tech companies in USA have delayed re-opening their offices and are doing fine. 

Edited January 25, 2022 by dj230