Hong Kong residents leave at highest rate since Covid

Changing demographics: Tourists walking in front of the Victoria Harbour, with the financial district in the background. One economist says the outflow is due to strong demand for outbound tourism and emigration for work or education. — Reuters

Hong Kong: Hong Kong saw its biggest net outflow of residents since the beginning of the Covid-19 pandemic, the latest sign that the city is far from regaining its mantle as a business hub and tourist destination.

As of Aug 14, resident departures had outnumbered arrivals by more than 291,000 this year, the highest level since the Immigration Department began keeping records in January 2020.