Hong Kong, officially called as Hong Kong Special Administrative Region of the People’s Republic of China is a city in southern China which welcomes you with its high skyscrapers, iconic skylines, lush green nature, delicious cuisine and dynamic Chinese culture. Hong Kong today is the world’s fourth most densely populated region and also a leading market for wealth management services due to its expensive lifestyle. To know more about it, let’s explore the lifestyle of Hong Kong, Asia’s World city.
Commuting from one place to another is an easy breeze in Hong Kong. With well managed public transport systems you can go around conveniently and fast. The MTR system that includes trains, metro, buses and trams is a cheap and speedy mode of transportation in the city. Moreover, a prepaid travel card called the Octopus card makes it easier as you can recharge the card and use it for all the public transport mediums.
Accommodation is the biggest problem in Hong Kong. The place is small and the living space is scarce. As a result, a major percentage of people in the city lives in high rise apartments with high rents. Moreover, due to its compact spaces, it is also called the concrete jungle.
Hong Kong has an excellent public welfare facility. The government provides public healthcare for everyone who has a valid ID card. Many employment contracts also provide health care as one of the perks. Moreover, though the education system in private schools is expensive, it is of the highest quality.
Hong Kong enjoys a subtropical climate with four distinguishable seasons. The city gets a considerable share of monsoons and often faces tropical storms and typhoons. However, the warning systems of the country are well equipped for extreme weather.
Hong Kong is an amalgamation of western and eastern culture. People celebrate various festivals like Birthday of Tin Hay, The Spring Lantern Festival, The Hungry Ghost Festival, and the Chinese New Year.
Hong Kong has two official languages which are Cantonese Chinese and English. Most people speak English though all signs are in both. However, Mandarin Chinese is also spoken there.
Cost of living
Due to its expanding population and favourable living conditions, the cost of living in Hong Kong is rising at an alarming rate. As per the recent reports, Hong Kong is the 9th expensive city in the world and 3rd most expensive in Asia. Though the city is small, more and more people keep pouring in for its cultural vibrancy, cuisine and stable society. It leads to a steep rise in prices of not only accommodation but also of daily items like a cup of coffee.
Due to the high cost of living and the expensive lifestyle in Hong Kong, it might be difficult to manage your funds. Irrespective of your income, if you are not able to manage your money, you can opt for an expert help. To ensure that you secure the future of your family and also plan a comfortable life after your retirement, you can take the help of wealth managers. Wealth management is a professional process that helps you create, manage and grow your wealth.