As Hong Kong tops many ‘most expensive’ charts, ordinary Hongkongers struggle to make ends meet

Hong Kong is the most expensive city in the world on a number of counts – for housing, for business travellers and overall cost of living. Young people wanting to get married have to cough up HK$360,000 on average for a wedding banquet, a 10 per cent increase over last year. The average family would need to save up for 21 years without spending a single dollar to be able to buy a home in the city, according to one study.

The wage of the ordinary worker, however, remains low. The median monthly income is HK$17,500 and has increased by 4 per cent from last year. After adjusting for inflation, the real wage increase was only 1 per cent. Wage increases, except for high-income earners, have not been able to keep up with the increased cost of living. Relying on a wage hike to improve one’s quality of life is nearly impossible. If a family can make ends meet, it would count itself lucky.

For low-income earners, the struggle is harder. Although the minimum hourly wage will increase from HK$34.50 to HK$37.50 in May, the base rate is still too low. It prompts low-skilled workers, such as security guards, to work longer hours at the expense of their health, leisure and family time.

Security guards who work 12-hour shifts earn HK$13,770 a month while those working eight-hour shifts earn HK$10,469. The extra HK$3,000 would incentivise many workers to opt for two-shift work, even though it means working for 30 per cent longer a day and, once travel time is considered, it leaves no room for life outside work.

In Hong Kong, hospital staff and bus drivers are chronically overworked, and we have seen a string of medical blunders and traffic accidents recently.