ExclusiveHong Kong will attract a new generation of expats, but quarantine restrictions must go first, says Link Reit’s Nicholas Allen

Hong Kong’s quality of life, low tax rate and opportunities in the Greater Bay Area will attract overseas talent, Link Reit chairman says

Allen, who came to the city nearly 40 years ago, says he still feels welcome and continues to enjoy work and life here

4-MIN READ4-MIN

Hong Kong, which has seen an exodus of expatriates amid the pandemic, can once again attract talent if it removes the strict quarantine measures. Photo: Felix Wong

Published: 4:02pm, 5 Jul 2022

Hong Kong remains an attractive destination for top international talent, but to maintain that status the city’s tough quarantine rules have to go, according to a veteran expat executive.

Nicholas Allen, chairman of Link Reit and independent director of both CLP and Hong Kong Exchanges and Clearing (HKEX), believes Hong Kong still has a future even as local regulators and the financial sector face a personnel crunch.

“There will be a new generation of expatriates coming to Hong Kong for its quality of life, low tax rate and opportunities in the Greater Bay Area,” said the 67-year old Briton, who has called Hong Kong home for almost 40 years.

Allen said that the city’s quarantine rules have proved to be more of a deterrent to overseas talent than the national security law, which was passed in June 2020 to prevent, stop and punish secession. “The quarantine rules have led some people to move their children to Singapore, UK or Australia, and it is hard to route them back,” he said.

Link Reit chairman Nicholas Allen has called Hong Kong home for nearly 40 years. Photo: Jonathan Wong

Hong Kong is one of the few places alongside China that continues to maintain stringent Covid-19 restrictions, with travellers required to undergo seven days of mandatory quarantine.