What Is The Average Cost Of Living In Hong Kong?

What is a good salary in Hong Kong 2019?

The average salary in Hong Kong is much higher.

It is also a good figure to base you research on, if you are coming to HK as an expat.

The current average salary per month is 19100 HKD (2430 USD) for male workers and 14700 HKD (1875 USD) for female workers..

How much money do you need per day in Hong Kong?

How much money will you need for your trip to Hong Kong? You should plan to spend around HK$1,085 ($140) per day on your vacation in Hong Kong, which is the average daily price based on the expenses of other visitors.

How much tax do I pay in Hong Kong?

Individuals are taxed at progressive rates on their net chargeable income (i.e. assessable income after deductions and allowances) starting at 2% and is capped at 17%; or 15% of net income (i.e. income after deductions only), whichever is lower. For further details, refer to Hong Kong Personal Income Tax guide.

What is considered middle class in Hong Kong?

A Hong Kong household earning HK$55,000 a month or above could be classified as middle class, Yip said. Yet only about 10 per cent of the 2.4 million households in the city earn that much, according to government figures (an average household has 3.2 persons).

Is it expensive to live in Hong Kong?

Hong Kong is the 10th most expensive place on the planet to live. Rent pushes up cost of living significantly – but if you choose your new home wisely, you can still live an excellent life on an average salary.

How much is the rent in Hong Kong?

The average rent for a one-bedroom apartment in Hong Kong can range from 12,000 to 20,000 HKD (1,500 to 2,500 USD) or more per month. On the upside, most apartments easily meet the highest standards of living. Older buildings are often renovated to offer their tenants the same comfort as new housing developments.

How much money do you need to live comfortably in Hong Kong?

You should allow for HK$30,000 to HK$50,000 (US$3,900 to US$6,500) per year for other living costs, including food, leisure, transportation, and personal items, depending on how extravagantly you plan to live. How much do things cost in Hong Kong? Check out these prices, for your reference.

Is it difficult to get a job in Hong Kong?

Although Hong Kong has a reputation as an expat playground, it has never been harder to find a job here. Competition from mainland immigrants is fierce, and work visa rules are tighter than ever before. … Finding work for the lone expat is much more difficult, primarily because they don’t speak Cantonese.

What is a good salary in HK?

A HK$1.5 million yearly income would mean a monthly salary of HK$125,000. According to the Population Census last year, only 4.2 per cent of the working population earn more than HK$60,000 a month, the highest category in the report. Hongkongers on average earn HK$12,800 per month.

Why is it so expensive to live in Hong Kong?

It’s no secret Hong Kong is one of the most tax-friendly economies in the world. One of the reasons the government can keep taxes so low is because a large chunk of its revenues come from land sales. … In fact, if property values dropped too much, the government could even have to rethink its tax revenue system.

How much money should I bring to Hong Kong?

Travellers in and out of Hong Kong will need to declare if they are carrying more than HK$120,000 (US$15,300) in cash, after a new law to tackle dirty money comes into force in mid-July.

How bad is the air quality in Hong Kong?

Hong Kong has the world’s highest traffic density as well as coal-burning power plants which contribute an estimated 50% to the total level of pollution. That said, pollution from China is a major problem. The worst days of air pollution in Hong Kong are usually caused by wind blowing the smog in from China.