Executive director of the German Chamber of Commerce (GCC) in Hong Kong Wolfgang Ehmann says the GCC hasn't researched the impacts of a post-Olympics exodus of foreigners, "since we do not expect any exodus".
But it has surveyed 512 firms about the limiting of multiple-entry visas. Nearly 80 percent of the 46 responders said they believed the restrictions would negatively impact their operations, while more than 40 percent anticipate "an unfavorable impact over the medium and long term".
(Photo Source: China Daily)
"In any case, we will have to wait until October, when everyone assumes the normal practice of issuing visas will resume. If this does not happen, then I think we will have to anticipate more people and companies leaving," Ehmann says.
American Noah Binder was "one of the lucky ones" who was able to get a visa extension until the summer of 2009. The 27-year-old plans to teach English and do environmental work in Beijing, and says he would be glad if the number of foreigners dropped off after August.
"As I work as an English tutor, a mass exodus of foreigners can only help me financially," Binder says.
