The Hong Kong New Normal Tracking Study - Financial Impact March 2021
The Hong Kong New Normal Tracking Study measures changes in attitudes and behaviour in reaction to the COVID-19 pandemic since march 2020. Highlights from March 2021 wave:
More and more Hong Kong people see further delays in the Hong Kong economic recovery, with 43% now only expecting it only for 2022, and 16% even beyond. Meanwhile 31% are delaying big purchases, and 18% declare their working hours have been reduced (although this is slowly declining since November). 19% declare using their savings to pay the bills, and 11% are considering delaying their retirement. Meanwhile 7% say they have lost their job and another 7% know an earner in their household who did.
Looking at investment strategy, 22% want to hold on to their cash savings (lowest proportion since November), 11% want to sell stocks to minimize their losses and 22% planning to invest during the slump for later gains.
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