Hong Kong’s richest earning 81.9 times more than poorest residents, charity says

Hong Kong’s richest are earning 81.9 times more than its poorest residents, up from 52.7 times last year, the local branch of an international charity has said, in a further widening of the city’s wealth gap.

A report released by Oxfam Hong Kong on Wednesday also showed that more than 1.39 million people were living in poverty in the first quarter of this year, a rate of 20.2 per cent.

The level was higher than the 19.5 per cent recorded last year and the pre-pandemic figure of 18.3 per cent in 2019.

The charity attributed the worsening wealth inequality to the city’s rapidly ageing population and an increasing number of financially struggling elderly residents.

The organisation urged authorities to step up support for them through targeted poverty alleviation policies and help such residents return to the workforce.

“The population ageing and elderly poverty have become more serious, especially those households with elderly people living alone or only with their spouses,” said Kalina Tsang Ka-wai, director general of Oxfam Hong Kong.