Core Insights - The "High Talent Pass" program has attracted over 220,000 individuals to Hong Kong since its launch in December 2022, with a significant portion working in the financial and insurance sectors [2][3][11] - The program has a high attrition rate, with 46% of applicants choosing not to renew their visas after the initial two-year period, highlighting the competitive job market and challenges faced by new arrivals [2][6][11] - The median monthly salary for those who successfully renew their visas is approximately 40,000 HKD, with the highest earners making over 300,000 HKD [11][14] Group 1: Program Overview - The "High Talent Pass" program targets graduates from top global universities and high-income individuals, allowing them to stay in Hong Kong for two years without employer sponsorship [3][4] - The program has three categories (A, B, C) with varying requirements, including income thresholds and work experience [4][6] - The approval rate for the program is high, with 80%+ for category A applicants [4][11] Group 2: Employment Challenges - Many participants face difficulties in securing stable employment, with a significant number working in commission-based roles, such as insurance sales, which complicates visa renewal [8][9][10] - The insurance industry has a high turnover rate, with many new entrants unable to achieve sales targets, leading to a challenging work environment [8][9][10] - The competitive job market and high living costs in Hong Kong contribute to the challenges faced by new arrivals [10][11] Group 3: Economic Impact - The "High Talent Pass" program is expected to contribute approximately 34 billion HKD annually to Hong Kong's economy, representing about 1.2% of the local GDP [14] - The program aims to diversify the talent pool in Hong Kong, with ongoing adjustments to meet the local market's needs [14][15]

Core Insights - The "High Talent Pass" program has attracted over 220,000 individuals to Hong Kong since its launch in December 2022, with a significant number facing challenges in job retention and renewal of their permits [3][4][6] - The program has a high attrition rate, with 46% of the 13,678 individuals whose permits expired choosing not to apply for renewal, highlighting the competitive job market and high living costs in Hong Kong [3][6][12] - The majority of successful applicants are concentrated in the finance and insurance sectors, with a median monthly salary of HKD 40,000, while the highest earners can make over HKD 300,000 [13][14] Group 1: Program Overview - The "High Talent Pass" program targets graduates from top global universities or individuals with high annual salaries, allowing them to stay in Hong Kong for two years without employer sponsorship [4][6] - As of July 2025, the program has received approximately 510,000 applications, with around 340,000 approved [5] Group 2: Employment Challenges - Many participants face difficulties in securing stable employment, with a significant number in the insurance industry experiencing a high turnover rate [7][8] - The renewal process for permits requires proof of stable income and employment, which is challenging for those in commission-based roles [9][12] Group 3: Economic Impact - The "High Talent Pass" program is expected to contribute approximately HKD 34 billion annually to Hong Kong's economy, representing about 1.2% of the local GDP [14] - The government plans to continue the program while optimizing its details to better align with the local job market and economic conditions [14][15]

Core Viewpoint - The "High Talent Pass" program has attracted over 220,000 individuals to Hong Kong since its launch, but the high attrition rate and competitive job market pose significant challenges for newcomers [3][4][8]. Group 1: Program Overview - The "High Talent Pass" program was introduced in December 2022 to address the talent shortage in Hong Kong, targeting graduates from top global universities or individuals with annual salaries exceeding 2.5 million HKD [6]. - As of July 2025, 1.37 million high talents have completed their stay, with 46% opting not to apply for renewal due to various challenges [3][8]. - The program has a high approval rate, with 80% for A category applicants and 50% for B category applicants [9]. Group 2: Employment Challenges - Many high talents face difficulties in securing stable employment, with a significant portion working in the competitive insurance industry, which has an 80% attrition rate in the first year [8][11]. - The median monthly salary for those who successfully renew their visas is approximately 40,000 HKD, with the highest 1% earning over 300,000 HKD [18][19]. - High living costs in Hong Kong, including exorbitant rent, further complicate the situation for many talents, leading to a preference for commuting from mainland China [15][16]. Group 3: Economic Impact - The "High Talent Pass" program is expected to contribute approximately 34 billion HKD annually to Hong Kong's economy, representing about 1.2% of the local GDP [19]. - The government plans to continue the program while optimizing its details to better align with the actual needs of the labor market [20].

Core Insights - The "High Talent Pass" program in Hong Kong has attracted over 220,000 individuals since its launch, with a significant drop in retention rates due to high competition and a challenging job market [2][3][11] - The insurance industry, in particular, has a high attrition rate, with 80% of new entrants failing to continue after the first year, leading to a perception of it being a "gamble" [1][8][11] - The median monthly salary for those who successfully renew their visas is approximately 40,000 HKD, with the highest earners making over 300,000 HKD [11][14] Group 1: Program Overview - The "High Talent Pass" was introduced to address talent shortages, targeting graduates from top global universities or individuals with high salaries [3][11] - As of July 2025, 13,678 individuals had their stay permits expire, with 46% opting not to apply for renewal [6][11] - The program has three categories for renewal, with varying success rates: A (77%), B (50%), and C (40%) [6][11] Group 2: Industry Challenges - The insurance sector has seen a rapid influx of talent, but many struggle to achieve sales targets, leading to high turnover [8][9][11] - New entrants often face significant challenges in establishing a client base, with many failing to make sales in their first months [8][9] - High living costs in Hong Kong, including expensive housing, further complicate the situation for new talent [10][11] Group 3: Economic Impact - The "High Talent Pass" program is expected to contribute approximately 34 billion HKD annually to Hong Kong's economy, representing about 1.2% of the local GDP [14] - The government plans to continue the program while optimizing its details to better align with local needs and labor market conditions [14]