Brain Drain Is Hurting Businesses, HKGCC Warns

Hong Kong is facing an exodus of skilled professionals on a scale not seen since the early 1990s, the Hong Kong General Chamber of Commerce warned on Friday.

The business group conducted a survey in January, involving 220 firms.

It showed nearly four out of 10 companies polled said a recent wave of emigration had a negative impact on their operations.

According to the study, workers aged between 30 and 39 was the dominant age group leaving the territory, followed by those aged 40 to 49.

Among the top factors they cited were better development for their children and political considerations.

Most of those who left are engineers, accountants and IT workers.

“Given the importance of human capital in Hong Kong’s service-driven and knowledge-based economy, there is real cause for concern if we cannot stem the current brain drain,” said Peter Wong, chairman of the chamber, in a statement.

“To stem the tide of departing workers, it is essential that the government regularly review its policies to ensure that Hong Kong remains an attractive place to live, work, study and raise a family,” he said.