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HONG KONG: Hong Kong children and young adults are not likely to find more in their red packets this Lunar New Year because of the uncertain economic prospects this year, according to a survey.
But still, people in Hong Kong are not going to let that spoil the holiday mood, and most are likely to spend more.
Mickey Mouse at Hong Kong Disneyland is dressed for the occasion, and busy spreading the New Year cheer.
And there are reasons to celebrate.
Wages for workers are likely to go up four per cent this year, unemployment rate is low and the stock market gained a hefty 40 per cent last year.
People say they will spend more this year as there are a lot of feel-good factors out there.
"It's because the general environment is good, the job is stable, and the economy is better. Most will be happy enough to give out more lucky money," said a member of the public.
"My salary has gone up, and there's the festive atmosphere. Normally, people spend according to the atmosphere. When people spend more, family members, relatives and friends, they're all likely to spend a little more," said another.
But with rising inflation and the stock market battering in January, some feel rather differently.
"I'll be giving similar amounts compared to last year. I don't feel that this year is any more special than the others. I'm not affected (by the stock market) because I didn't buy any shares," said a member of the public.
But according to a survey by the Hong Kong Research Association, only 28 per cent expect to see more in the way of lucky money or 'lai see'.
Last year, 42 per cent were expecting relatives, married couples and colleagues to be more generous. - CNA/ac
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