New Magazine Making Profit from Hong Kong Brain Drain
HONG KONG (AP) _ A bilingual magazine called The Emigrant was unveiled by publishers seeking to make a profit from the huge number of people seeking to leave this British colony before China takes over in 1997.
Wednesday’s launching of the monthly magazine is the latest sign of the colony’s growing ″brain drain″ in which swarms of Hong Kong’s brightest people, pessimistic about the future under Chinese rule, are moving overseas.
The government does not keep emigration statistics but the annual figure is in the tens of thousands, including many business professionals who meet immigration requirements of countries such as Australia and Canada.
Richard Day, publications director of the magazine, told a news conference that immigration statistics from consulates and conversations with government officials indicate that more than 50,000 Hong Kong residents would emigrate this year with even more leaving in 1989.
The Chinese-English magazine, which costs 20 Hong Kong dollars an issue, or about $2.50, is not designed to encourage emigration but merely presents ″unbiased facts″ about topics such as living abroad permanently, Day said.
The first issue, which will hit newsstands Monday, has articles on the overseas real estate market, education counseling, restaurants in Australia and the method used by Canada to determine immigration eligibility.