Expect lots of HK$10 and HK$20 bills in your lai see envelopes this year.
According to a Democratic Alliance for the Betterment of and Progress of Hong Kong survey of 700 people, more than half (60.8%) of those surveyed said that they will put only HK$10 or HK$20 in the packets. Only 2.3 percent will give HK$100 or more.
That’s a huge drop compared to last year, where one-third of Hongkongers said that they would give out at least HK$100.
Even Lunar New Year spending is cut, with 60 percent saying that spending will be limited to HK$300 or under.
According to the DAB deputy secretary general, high inflation and the failure of salaries to catch up have reduced citizen spending, and suggested that the government should step up measures to curb inflation.
Source: The Standard
Photo: Bill So, Flickr
