Hong Kong consumption vouchers ‘gone in a flash’ boosting retail and catering sectors but impact fizzling out fast
- Many appear to have spent their vouchers on necessities to help ease financial burden caused by increasing living costs
- Retailers, restaurants say business improved as vouchers went out, but buzz did not last for very long
The e-vouchers did not go very far but helped to ease the family’s financial burden. “Most of our expenses for our children every month are for tuition,” said Chan, 31, whose husband works in construction and earns HK$16,000 a month.
She was among Hong Kong residents eligible for the latest round of government consumption vouchers, worth HK$5,000, with the first HK$3,000 given away on April 16.
Adult permanent residents and some new arrivals from mainland China aged 18 or above were eligible for vouchers worth HK$5,000.
Individuals arriving through various talent and work admission schemes, or to study, were also entitled to vouchers worth HK$2,500 and received the first instalment of HK$1,500 on April 23.
About 6.4 million people were eligible in total, with the second handout on July 16.
Many appear to have spent their vouchers right away, boosting the city’s retail and catering sectors.
