Airamerica, totally agree with you... Very few leaving, often refered to here as the golden handcuffs... The money is good compared to elsewhere, but not that much better, at 16 to 1, FOs earn less than 4000 pounds a month, lifestyle and rostering far worse than any of the low cost carriers with a rostering agreement. With no aircraft on order, and no one really leaving, what do you think that will do to time to command? Housing is better than cx so's and fo's, worse than cx captains. Schooling covers the absolute basic minimum you would want for your children, nothing more, public (government) school equivalent. You get that for free in UK, AUS or US anyway.
Hkg dollar is pegged to the US, and headed south against just about every other currency on earth. Housing scheme lets you live in something that makes council flats from the 60s seem spacious, but that is hkgs property market, not dragons fault. Yes, it seems generous that they would offer it, but your entire salary wouldn't cover a decent rent if they didnt offer it, so who would come here for that?
Many realise that the golden handcuffs are made from 24 carat fools gold. Good bunch of line pilots though. Dont make the mistake management does, just because they arent leaving, doesnt mean they arent looking around. Like anywhere though, some love it, some hate it, most are somewhere between the 2.