Travel to Hong Kong
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Visa for Hong Kong : EU citizens gets a stamp for free in their passport that allows them to stay for 2 months in Hong Kong, which means that if you are a EC citizen you don't need any visa for Hong Kong.
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New visa/double entry visa for China : if you want to enter Hong Kong from China and then return to China again you need a double entry visa for China or you can buy one in Hong Kong. When leaving China the visa immediately gets expired but it's a very simple procedure to get a new one in Hong Kong. The cost of the visa depends on how fast you want it so to avoid paying extra, hand in your application form and photos as soon as possible. Most of the budget hotels and guest houses can organize the visa for you; a 60 day visa delivered in 3 days costs 15 dollar, you can get it the same day but it costs more. It should also be possible to get a 3 months visa to China in Hong Kong.
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Budget hotels in Hong Kong : accommodation is expensive in Hong Kong. The cheapest accommodation is a small room in one of the many guest houses in the mansions where all the African and Indian traders stay. It's mostly not very clean and a kind of weird atmosphere but probably the cheapest you will find. A double room costs 120 Yuan.
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Travel by flight from Hong Kong to Europe : Hong Kong is not anymore an ideal place for leaving Asia to Europe by flight . We could not find any of the budget tickets that the travel guide books described, probably a lot better to go to Bangkok if you have enough time. A one way ticket cost us 600 Dollar.