• 2 hours From Frenzy To Flop, The Death Of This Year’s Most Hyped IPO
  • 7 hours Are Smart TVs Spying On Us?
  • 9 hours Is Fossil Fuel Divestment A Waste Of Time?
  • 1 day A Russian Billionaire’s Space Quest To Save Humanity
  • 1 day Markets Take Breather As Consolidation Continues
  • 1 day Economic Woes Weigh On Copper Prices
  • 1 day World's Largest IPO At Risk Following Drone Strikes
  • 2 days Gold Is Beating Buffett’s Berkshire Hathaway
  • 2 days What’s Behind The Silver Sell-Off?
  • 2 days The Retail Apocalypse Is Accelerating
  • 2 days The Top Tech Stocks Of The Year
  • 3 days America’s Workforce Elderly Workforce To Double By 2028
  • 3 days Toyota Tests Solar-Powered Prius
  • 4 days Why The Gold Rally Flatlined
  • 4 days The Uranium Sector Can’t Catch A Break
  • 5 days Upcoming Fed Meeting Has Investors On Edge
  • 5 days Global Gold Sector Outlines Responsible Mining Principles
  • 6 days China’s Giant Vampire Fund Loses $120B
  • 6 days McDonalds To Roll Out Robot Drive-Thru Clerks
  • 6 days Savvy Investors Are Betting Big On This Little Data Company
  1. Home
  2. News
  3. Breaking News

Hong Kong Residents Are Fleeing To Taiwan At A Record Pace

Hong Kong Taiwan

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.

Meanwhile, protesters have clashed with police in an extremely violent manner. Taiwanese President Tsai Ing-wen, who leads a pro-independence party in Taiwan, has verbally supported the Taiwan protests. But many residents are beginning to worry that the clashes might never end.

And who wants to pay all that money in rent if you can't even catch a flight on time without worrying about mobs of protesters.

Just take a look at this quote:

"I want to move to Taiwan because Hong Kong is in a period of white terror and ruled by the police, which scares me," said 37-year-old retail salesperson Steven Chen, a Hong Konger who said he was working to move to Taiwan. "I saw no future for the city when it returned to China some 20 years ago, but now it’s dangerous to live in, as the police are not protecting people."

Not only is there 'no future,' but many now worry that it's 'dangerous' to live in Hong Kong.

By Zerohedge.com 

More Top Reads From Safehaven.com:

Back to homepage

Leave a comment

Leave a comment