In a notable sign of recovery following the tumultuous years marked by the COVID-19 pandemic and socio-political upheavals, Hong Kong has witnessed a population increase for the second consecutive year.
The latest government data reveals a 0.4% rise in the territory's population, reaching 7.50 million in 2023, up from 7.47 million the previous year. This growth is attributed to a significant net inflow of returning residents and the successful implementation of various residential schemes, positioning Hong Kong on a path to revitalizing its economy and enhancing its global stature.
The period following the anti-government protests in 2019 and the subsequent enactment of a stringent national security law by Beijing in 2020 had seen the financial hub grappling with challenges to its reputation and economic stability. However, the recent population growth marks a positive turn as the city endeavors to reclaim its vibrancy and appeal as a leading international financial center.
The government highlighted the return of many Hong Kong residents who had stayed abroad during the peak of the pandemic, contributing to the population increase throughout 2023. Furthermore, the latter half of the year continued to see a considerable inflow of Hong Kong Permanent Residents, reinforcing the trend of repatriation and settlement in the city.
A significant portion of this inflow, accounting for 79%, comprised individuals holding the 'One-way permit'-a document issued by mainland China that facilitates residency in Hong Kong. This demographic shift resulted in a net inflow of 51,700 Hong Kong residents during the period, notwithstanding a natural decrease of 21,200, attributed to 33,200 births juxtaposed against 54,400 deaths.
This resurgence in Hong Kong's population dynamics contrasts with the broader trend observed in mainland China, where the population experienced a decline for the second successive year in 2023. The mainland's demographic challenges are compounded by a record low birth rate and a significant number of COVID-19 related fatalities.
As Hong Kong strides towards recovery and renewal, the government's efforts to attract mainland and overseas individuals through various schemes are poised to play a crucial role in sustaining the city's population growth. The administration's proactive measures aim not only to bolster the local economy but also to restore Hong Kong's international image as a vibrant and resilient global city.
