We adopt and extend Hirschman’s (1970) Exit, Voice, and Loyalty framework to investigate the associations between local identities, participation in social movements, and migration intention in Hong Kong. Data are from random sampled surveys collected from February to April 2021, June to August 2021, and March to June 2022 ( N = 3,003) from people in Hong Kong with the British National (Overseas) status. The findings show that the Hong Konger identity is associated with a higher level of participation in social movements and a stronger migration intention. There are few variations in these associations across the generations. Furthermore, participation in social movements is a strong push factor to migration, and no generational difference in the association is found. Overall, the findings imply that when political freedom is in decline, as in the case of Hong Kong, a local identity is associated with voicing for reforms. In the case of failed social movements, a local identity and previous experiences in voicing out are associated with a higher chance of exit to another country.