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Crunch hit Hong Kong expats are 'moving to less stressful lives'

Expatriates living in Hong Kong that have been affected by the global economic downturn are moving on and seeking more laid-back lives, the Economic Times of India has reported.

Despite losing their well-paid jobs the expatriates are not moving home, they are enjoying their freedom and travelling instead.

The paper reports two local relocation companies have received a sharp rise in orders for storage facilities "that far outstrip calls and orders from expatriates intent on shipping their things back home".

Barry Emmerton, a former derivatives trader, told the paper he is moving to a bamboo hut in the Philippines.

He said initially he was worried: "But since we handed in our notice and booked our flights I haven’t been able to stop smiling about it."

Expatriates in Hong Kong returning to Holland may notice changes to their tax situation.

Sources close to the Dutch cabinet have been reported as saying the country’s finance minister, Wouter Bos, will be clamping down on private sector excesses.

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