A latest wave of the Ipsos Global Inflation Monitor finds in 26 of 29 countries more people think their country is in recession than think it is not. Almost two-thirds expect inflation will continue to rise over the next year, while one-third expect their disposable income to fall.
Covid-19 remains the top concern for Hong Kong residents, nearly one in four (23%) claiming it is the main challenge facing the SAR today, based on the latest poll from our New Normal tracker. Unsurprisingly, a similar proportion (21%) think inflation is the second main challenge for the Territory, with health being the third (19%).
While the relaxation of covid restrictions will help restore some normality and Hong Kong residents are less pessimistic, the Territory will continue facing headwinds in 2023. A majority of our survey respondents (70%) expect inflation to go up over the course of the year. As a result, four in 10 (41%) residents expect their disposable income and standard of living to decline over the next 12 months.
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 October 2022 wave:
Ipsos has been following Hong Kong residents’ reactions to the pandemic since march 2020. Through our New Normal survey we have observed the ups and downs of the people in the territory and analysed the implications for businesses and brand owners.
Many more blame price increases on market volatility and geopolitical tensions than on climate change policies: Ipsos survey for the World Economic Forum
