Growing Economic Pessimism in Hong Kong

Nearly 80 percent of Hong Kong citizens believe local economic conditions are getting worse, as protests, political unrest and coronavirus fears persist in the Chinese territory.

In a new Gallup poll released in February, 79 percent of Hong Kong citizens believe their local economy is getting worse, while only 19 percent believe it is either getting better or staying the same. This is a dramatic change from just 13 years ago, when sentiments were virtually flipped on the outlook of the local economy in Hong Kong.

The poll also highlights how Hong Kong citizens have mixed feelings on their standard of living. 39 percent of respondents believe their standard of living is getting better, down from 52 percent in 2017. Now, 25 percent believe it’s staying the same and 34 percent believe their standard of living is getting worse. Still, the poll highlighted how 79 percent of Hong Kongers are satisfied with their current living standards.