Kevin Tsui Ka-kin, the chief economist at research firm Orientis, predicted there would be some impact on consumption in the city, but insisted it would be short-term.
He added the policy could attract more people from overseas to the city in the long run, which could also help broaden a talent pool dominated by people from the mainland.
“A lot of expatriates left during the pandemic. This could serve as a new incentive for them to come back to Hong Kong, which will be beneficial for local consumption and the overall business environment as well,” he said.
“But it would be great if the government could lower the threshold and, for example, let people that have not yet obtained permanent residency to apply for the visa to make it more attractive.”
Simon Lee Siu-po, an honorary fellow at the Asia-Pacific Institute of Business at the Chinese University of Hong Kong, said he believed…
