Some 82 per cent residents expressed that their financial situation has deteriorated since last year due to the pandemic, while 91 per cent said they hope to receive cash handouts or e-consumption vouchers in the upcoming second MOP 10 billion relief package, a  survey conducted by the Collective Wisdom Policy Centre indicates.
According to the survey conducted by the think-tank, around 82 per cent of the respondents said that their financial conditions are worsening, and they have faced multiple economic pressures such as raising children, taking care of elderly parents, repaying housing or car loans, worrying about their employment situation, and the suspension of business.
Among the residents who expressed the deterioration in their economic situation, those who work in the gaming industry, hotel and catering sectors, and clerical positions have been affected the most, with a majority of them being middle-aged residents between the ages of 30 and 40.
Meanwhile, some 48 per cent of respondents said that a significant price hike was observed after the third round of the e-consumption card scheme was launched, while 41 per cent of respondents said that only a slight price increase was observed.
As for the form of distribution of the second MOP 10 billion aid measures, some 49 per cent respondents indicated that they hope to receive both cash and e-consumption vouchers, while around 40 per cent of respondents prefer to receive only cash, with the number of respondents who chose “only e-vouchers” accounting for 9 per cent of the total.
The survey also discovered that many residents hold a negative attitude towards the economic prospects of the SAR in the coming year, and residents have very little knowledge of the four major industries promoted by the SAR government.
The SAR government aims to promote economic diversification through four major industries: health-related industries led by the TCM sector; tourism, convention and exhibition services; high-tech manufacturing and scientific research; and modern finance.
The vice president of the Collective Wisdom Policy Center, legislator Ngan Iek Hang, indicated that the SAR government should expand the scope of the benefits, provide both cash and e-vouchers for the residents, strengthen the monitoring of price fluctuations, as well as expand the source of tourists and promote moderate economic diversification.
