Hong Kong Should Lift Restrictions for Corporate Travels, Report Suggests

Hong Kong must consider allowing employees working in the financial sector to travel freely within the city to maintain its position as one of the leading global financial centres in Asia, a July 12 report from the Alternative Investment Management Association (AIMA) and PWC said.

Decreased corporate travels and global bank chiefs’ lack of confidence to enter the city are the consequences of Hong Kong’s strict COVID-19 regulations, quarantine rules, and flight bans since 2020.

AIMA Hong Kong Executive Committee Chair Philip Meyer said that policymakers should be more open to everyone coming from every business sector. Considering the high number of residents who departed Hong Kong, it is likely that more people and businesses might need to move if the current situation persists in the next 12 months, he added.

Meanwhile, Hong Kong remains as one of the few cities that enforces strict quarantine for inbound travellers, requiring them to spend seven days in a designated hotel at their own expense.