Income disparity in hong kong
Hong Kong's income inequality has long been higher than any G7 economy, and the 19 wealthiest billionaires in the city have control over about 230 billion HKD. A poor population of 1.4 million people and a poverty rate of 21.4% was recorded in 2019.
One of the most vulnerable populations of the city are the elderlies, especially 65 and older, who are often unprepared for retirement but are at disadvantage when competing for jobs. Since COVID-19 hit, they are also facing a greater health risk from the virus.
However, it is not just the city's older population that is suffering. Losing a job can be more daunting in Hong Kong than in most other places in the world as it has the most expensive rent globally. As a result, living in tiny subdivided apartments or caged homes are the only options left for them.
Due to COVID-19, a large umber of workers have lost their jobs, because of the huge layoffs, for example flight crews such as pilots and flight attendants, as a result of the rapid decrease of flights.
What's worse, the child poverty rate in Hong Kong is 18%, which is much higher than in other countries. As children, they are born innocently into an underprivileged environment, yet they have to suffer from the burdens just as their parents did.
Climbing up the social ladder is tough for them, but it is the only way out for them, their families and their next generation.
As youth, we might not be able to do much on a large scale, but little by little, we can surely make a positive impact on our society. At SimplyShare, we hope to combat generational poverty by showing our care and passing on resources and talents to those in need.