Hong Kong was already one of the world’s most unaffordable cities before the unrest over the extradition bill started 11 weeks ago. But now, it’s both unaffordable and not particularly safe, more residents are looking to maybe find somewhere less expensive, that’s not quite such a political powder keg.
Given that most people in the region would probably like to live somewhere local where they speak the language, the top beneficiary of HK’s recent wave of emigration has been Taiwan.
According to the Taipei Times and Bloomberg, the number of people moving to Taiwan from Hong Kong has risen rapidly – it’s up 28% over the first seven months of this year compared with the same period a year earlier – driven in part by the anti-government protests that have rocked the city-state over the past three months.
Those who have been making the move, typically wealthier entrepreneurs, salespeople and managers, have cited a better quality of life in the democratically run Taiwan, cheaper property, business opportunities and a safer living environment as incentives to make the move.
Many in Hong Kong are worried that Beijing will send a military incursion to restore order, fears that haven’t been allayed by the arrest of a worker at the British consulate in Hong Kong.