Posted by
jmannie
17 yrs ago
anyone leaving because of recession/ job loss? or sticking it out till it gets better?
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http://hongkong.asiaxpat.com/forums/living-in-or-moving-to-hong-kong/threads/121484/expats-leaving-due-to-financial-crisis?/
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In the japan downturn in 2003, it took 2 years for finance job openings to reappear. I think this time around might take 3-4 years so people shouldn't be too optimistic. A lot of expats wiped out their savings in japan paying expensive rents & tuitions waiting for those jobs that pay 10x local salaries to come back. unless one can find a job quick or surive with reduced income 2-3 years probably best not to be too optimistic and maybe move someplace cheaper. The banks currently laying off hundreds of employees each.
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not really - I'm in UK on home leave, but will return to HK, and the expats I know are not leaving. It depends on which line one is in - junior finance jobs will be the worst hit.
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I know of many expats leaving HK - and not just in banking or finance jobs.....it seems all industries are badly affected ......even those who own their own businesses are feeling the effects and are going to cheaper places
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Yeah things may be cheap there but also a hazard...eg. food products etc.
Often profits comes before health and safety !
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Ed
17 yrs ago
Unable to read that without a membership...
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Ed
17 yrs ago
Heh heh thanks... I refuse to pay when there are far better free online news sources... save the money for Molson...
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Ed could I ask you what other online news resources you mean? (Sorry perhaps I should start a new thread...) Do you know of any HK online news sites that are worth checking out? (I am not looking for international resources like CNN, BBC but more HK oriented ones.) Cheers :-).
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Ed
17 yrs ago
I prefer the Herald Tribune but for HK news The Standard.com
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I am looking for an expatriate who fears to lose his job or who has already lost his job due to the financial and economic crisis. Kindly send me your phone number or email address. I am a journalist for a large newspaper.
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The forums seems to be not as active as before. Is it because many expat have left Hong Kong already? Or is it just because it's just vacation time?
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Ed
17 yrs ago
Our traffic is increasing http://www.thomascrampton.com/hong-kong/hitwise-asiaxpat-traffic-spikes/ as are our classified ads http://www.asiaxpat.com/newsletter/house/200906-classifieds/ so I dont think there is a mass exodus. That said over 40% of our users are holding HK passports and that is increasing...
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No point heading back to the U.K if you are worried. No jobs there, no sun, taxes are about to go up to pay for the borrowing. Take a year out somewhere strange (and cheap). Study Chinese in Kunming... great place.
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punter, I think it's just vacation time. There's a mass expat exodus every summer. ;)
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