1.12.17

Hong Kong People's Republic of China

Government data show a fifth of Hong Kong's population is below the poverty line despite economic growth. The number of people living below the poverty line increased to 1.35 million in 2016, or about 20 percent of the city's population. The number is the highest since the government began publishing statistics in 2009.

 Despite the wealth of luxury, the life of Hong Kong society is very unequal. Hong Kong is the most unaffordable housing market in the world and the poor live in slum conditions with some people living in crowded and narrow homes. The number of poor people is increasing despite the government raising the poverty line last year.

In Sham Shui Po's poorest district of the city and home to a large number of immigrants and ethnic minorities, the poverty rate rises to nearly a quarter of the population. Hong Kong officials blame the rise in poverty due to an aging population, of which 32 percent of Hong Kong's population is over 65. Social groups criticize the government for its lack of poverty alleviation and demands for improved welfare.

According to the NGO, this condition reflects the severe poverty in Hong Kong. This means that government poverty alleviation measures lack strength, precision and intensity. The group called on the government to pass legislation that enforces age discrimination and improves welfare schemes for parents. The city's minimum wage is 3.35 euros per hour and is reviewed every two years. The number of poor people in Hong Kong increased despite the government posted a 10.7 billion euro surplus in the last fiscal year. According to the World Bank, Hong Kong's per-capita GDP is highest among any country or region, surpassing the UK, Germany and Japan.

Wealth is most clearly seen in the property market. A recent analysis found prices for parking spaces increased faster than flats (apartments) in parts of Hong Kong. For example, for three housing, parking rates rose an average of 167 percent in the last six years, while flat prices increased by 52 percent.

Hong Kong People's Republic of China
 world bank logo png 
 germany and japan ww2




TODAY DIRECTORY © 2008 today directory.

TOPO