Expat Hong Kong News

Latest 10 news items tagged Hong Kong

1 Dec at 6 PM 2016

UK expats shock at worldwide Marks and Spencer closures

Following the UK company’s decision to close its stores in China due to lack of demand, the quintessentially British retailer has now announced it will close100 stores in Europe. Known as a link with home for Brit expat shoppers, M&S has seemingly overreached itself with its huge expansion in Europe as well as its 10 stores in China. Once famed for its good quality, reasonably priced fashions and home décor goods, its UK sales figures and profits have been declining during recent years, although its website accounts for around...
22 Nov at 6 PM 2016

Expat dismay as Marks and Spencer deserts China

As if the shock of losing access to Uber wasn’t enough for Shanghai’s disparate expat community to bear, the news that Britain’s beloved Marks and Spencer store is to close all its Chinese branches may well be the last straw. Uber’s recent decision to delete its English-language app as well as ending payment by credit card was a tough call for expats in Shanghai, most of whom are not fluent in the Chinese language. Even so, the decision by one of the UK’s leading retailers is a worse blow for very practical reasons – the...
28 Oct at 6 PM 2016

Is India the new China for expats

As China falls fast as regards popularity with expats, the recent HSBC survey suggests India may be the new number one for those looking for business opportunities amid exotic surroundings. It seems the expat world is changing even faster than the real world, with formerly popular destinations such as Hong Kong and mainland China tumbling down the lists published by annual surveys. As fast as China falls, India is surging upward, with its overall rank now higher than that of the USA as well as China. So, what’s so special about...
28 Oct at 6 PM 2016

Expat bankers in Hong Kong mourn the old days

The ‘good old days’ of Hong Kong’s expat banking community are now long gone, with conspicuous consumption and extravagant lifestyles being replaced by discretion and lower spending. In the days before the 2008 financial crisis, Hong Kong was the dream relocation for a huge number of expat bankers, all gifted with packages covering everything from luxury housing through kids’ schooling and expense account entertainment. Salaries and generous bonuses were lavished on the city’s upscale nightlife, riotous parties and every...
27 Oct at 6 PM 2016

Expat life in China gets tougher

Life in China is now getting tougher for expats, with new visa rules, the rising cost of living and creeping prejudice against foreign workers. For the last decade or so, China has been seen as the perfect location for adventurous expats looking to live and work in an exotic environment. This golden era now looks to be ending, with the country crashing in the HSBC expat survey from third best of 34 countries to a miserable 34th out of 45. The recently-released InterNations survey noted a similar pattern, with China’s 2014...
26 Oct at 6 PM 2016

Taiwan becoming an Asian oasis for expats

Several recent global expat surveys have noted Taiwan is being rated highly for its provision of the good life in tranquil, verdant surroundings. The island of Taiwan is a relative newcomer to the expat world, having formerly been a well-kept secret, but its prominence in two annual expat surveys has catapulted it into being referred to as the best place in the world for expats. Quintessentially Asian, but on a smaller scale than most other destinations, it’s no surprise that it’s being praised to the skies by resident foreigners....
30 Sep at 6 PM 2016

Shrinking Hong Kong financial sector causes falling rents

Downturns in Hong Kong’s financial sector have resulted in cheaper apartments in many locations popular with expats. Falling rents in a number of favourite expat neighbourhoods are being seen as signs of the continuing downturn in the island’s financial sector as well as an indication that expats are moving on. For decades, residential rents have risen as Hong Kong continued to expand its financial trade, but nowadays the pendulum is swinging in the opposite direction. Ten formerly popular and pricey sectors of the city are now...
29 Sep at 6 PM 2016

LMIM investor group plans legal action in UK and other jurisdictions

A victims’ group attempting to get redress for the LM Investment Management Ponzi scheme collapse is investigating the feasibility of legal action in the UK and other jurisdictions. The LMIM scandal is perhaps this century’s most damaging example of investor fraud and is believed to have cost the 12,000 investors involved some A$750 million in losses. The investments were heavily pushed by mostly illegally working financial advisors in expat destinations including Hong Kong, Thailand and other Asian countries. LM Investor...
15 Sep at 6 PM 2016

Expats in Hong Kong score bargain apartments with bad Feng Shui

Expats in Hong Kong have found the way to bag a bargain rental apartment is to find one where someone has recently died. Many traditionally superstitious Chinese strongly believe that when a death occurs in a private home, the result is bad Feng Shui or –to put it in a Western context – the home will be haunted by the spirit of the deceased, making it difficult to rent out or sell. Savvy expats on the island are taking advantage of this belief to land a bargain unit at a low rent. One Chinese listing site tracks deaths from...
15 Sep at 6 PM 2016

Furious British couple up sticks and move to Malta after Brexit result announced

One British couple were so incensed by the Leave victory in the Brexit referendum they immediately sold up, left the UK and are now permanently settled in Malta. Like many millions in the UK, Nigel Lippard and his Hong Kong-born wife Linda didn’t believe the Leave campaign had even half a chance of winning the June 23 Brexit referendum. However, as the date approached and polls saw the gap between Remain and Leave narrowing, they became increasingly concerned. Having woken up to their worst nightmare on June 24, the couple...