Almost 50% of European companies in Hong Kong consider relocating operations
Nearly half of the European companies in Hong Kong plan to fully or partially relocate operations and staff out of the city, a survey suggests, in the latest sign that the world’s toughest Covid-19 travel and quarantine restrictions are eroding the appeal of Asia’s main finance hub. About 25 per cent of responding companies said they planned to fully relocate out of Hong Kong in the next year, a survey by the European Chamber of Commerce in Hong Kong revealed, while another 24 per cent said they are planning to partially move out of the city. A pedestrian crosses an empty street in Hong Kong's central business district. And about 34 per cent of firms said they were uncertain about their plans, while only 17 per cent said they had no desire to relocate over the next 12 months. The negative results, which come amid a surprisingly chaotic coronavirus outbreak, are the latest measure of declining business confidence in a once freewheeling city that has been increasingly isolated...