Hong Kong is a special administrative region of the People's Republic of China. Hong Kong's highly favourable geographical position and trading opportunities are wealth-generating assets. China is in Eastern Asia, bordering the East China Sea, Korea Bay, Yellow Sea, and South China Sea, between North Korea and Vietnam. The climate in Hong Kong is subtropical with a warm and humid spring, hot and rainy summer, pleasant and sunny autumn, and a cool and dry winter. The official languages are Chinese and English. Business is conducted in English, which all Hong Kong business people speak, although they may converse in Cantonese with their colleagues. Overall, the standard of spoken English outside business circles has deteriorated in recent years, making communication for non-Cantonese speakers increasingly difficult in many routine transactions. The main religions are Buddhism and Taoism. The economy of Hong Kong is characterised by the principle of "one country, two systems", whereby Hong Kong runs on economic and political systems different from those of mainland China. Hong Kong is one of the world's leading international financial centres, with a major capitalist service economy characterized by low taxation, free trade and minimum government intervention under the ethos of positive non-interventionism. Business introductions are usually formal, for example it is expected to use formal professional titles followed by surname. Expatriate business dress is conservative. Men typically wear a suit and tie, while women wear a dress or a skirt and blouse. The security risk for expatriates in Hong Kong is low overall. Risks are mainly petty crime such as tourist scams, muggings and business corruption, as well as those related to protests. The currency of Hong Kong is the Hong Kong Dollar (HKD). Banking is on a par with that of Western Europe and North America. Medical facilities are good, however the cost of treatment for expatriates can be high. People entering HK may undergo temperature screening at borders. Depending on the results, further medical examinations may be required. The population of Hong Kong is 7.4 Million (2019 est.), while the inflation rate (CPI) is 3.2% for Hong Kong as at September 2019. Xpatulator Hypothetical Tax for Hong Kong is based on the current personal income tax rates which are progressive up to 17%.
Cost Of Living
The cost of living for expatriates / professional migrants in We have collected prices for the same items, world wide, based on Expat spending norms, in or closest to the location, and converted them to $USD so that we can compare the cost of 13 different baskets in 780 global locations. For each basket, compared to New York, the equivalent cost in Hong Kong is as follows: Hong Kong as at 1 November 2019 is very high in comparison to other places in the world. 1) Alcohol and/or Tobacco: for items such as beer, spirits, wine and tobacco related products such as cigarettes. A basket costing USD$1000 in New York costs USD$930. Average price in a store for a midrange bottle of wine is USD$15.33, domestic/local beer (500ml) USD$1.64, imported/international beer (330ml) USD$2.33 and a pack of 20 cigarettes is USD$7.54. 2) Clothing: for items such as business, casual and children's clothing and footwear. A basket costing USD$1000 in New York costs USD$1190. Average price for an international brand of mens jeans is USD$80, a quality international brand of running shoes USD$90, mens leather shoes suitable for office wear USD$124 while a medium size international summer dress from a global chain store is USD$36. 3) Communication: for various communication costs such as home telephone rental, internet subscription, mobile service provider tariff and data costs. A basket costing USD$200 in New York costs USD$168. Average price for a monthly standard plan internet subscription is USD$26, while the benchmark mobile tariff is USD$0.07 per minute. 4) Education: for items such as creche / pre-school fees, primary school fees, high school fees and tertiary study fees. A basket costing USD$30000 in New York costs USD$28800. Average annual private international school fee (excluding extras) USD$18,645 for Primary School, and USD$20,749 for High School. 5) Furniture & Appliances: for items such as dining table and chairs, home entertainment, kitchen appliances, and sofas. A basket costing USD$2500 in New York costs USD$1825. Average price for a 6kg front loader Washing Machine is USD$658, and USD$565 for a 46+'' LED UHD TV. 6) Groceries: for items such as consumables, cleaning products, dairy, fresh fruit & vegetables, general food products, snacks, soft drinks. A basket costing USD$1000 in New York costs USD$1240. Average grocery prices in a major international retail store for 1 kg apples is USD$3.32, 1 kg oranges USD$2.83, 1 head lettuce USD$1.49, 1 kg potatos USD$2.41, 1 kg boneless, skinless, chicken breast USD$10.10, 1 kg cheddar cheese USD$20.98, 1 dozen large eggs USD$3.10, 500g loaf white bread USD$2.17, 1 L full cream milk USD$2.88, and 1.5 L water USD$1.80. 7) Healthcare: for general heath care, doctor visits, hospital stays, non-prescription medicine, and medical insurance. A basket costing USD$1000 in New York costs USD$1150. Average healthcare cost for a private practice Doctor visit for an uninsured patient is USD$93, and a private hospital stay per day including nursing care, medications, diagnostic tests, food, and related costs is USD$2,852. 8) Household Accommodation: for items such as apartment rent, house rent, property purchase, mortgage rate, and utilities. A basket costing USD$5000 in New York costs USD$10150. Average expatriate house / apartment rent for a secure upmarket unfurnished apartment (3 bedrooms) is USD$9,254 in a central location, and USD$5,570 in a suburban location, per month, excluding utilities. 9) Miscellaneous: for items such as dry cleaning, linen, magazines, newspapers, office supplies, and postage stamps. A basket costing USD$500 in New York costs USD$700. Average price for dry cleaning (1 mens 2 pc suit) is USD$13.66, while an international newspaper is USD$4.20. 10) Personal Care: for items such as cosmetics, hair care, and toiletries. A basket costing USD$500 in New York costs USD$400. Average cost for a mens haircut and blow dry is USD$32, while a womens hair colour, cut and blow dry - medium length is USD$159. 11) Recreation & Culture: for items such as books, cinema, sport and theatre tickets. A basket costing USD$500 in New York costs USD$525. Average price for a latest release international cinema ticket (average of on and off peak where applicable) for one adult is USD$12.78, and an international fitness, recreation or sports club membership cost for one adult is USD$78 per month. 12) Restaurants Meals Out and Hotels: for items such as hotel daily room rates, meals and beverages in a restaurant, and take away food and beverages. A basket costing USD$1000 in New York costs USD$940. Average cappuccino price (regular, medium) is USD$4.59, coke/pepsi (330ml) USD$1.23, burger meal (international franchise or similar) USD$4.47, and a mid-range international restaurant meal for 2 USD$51.11. 13) Transport: for items such as fuel (petrol/gasoline), car hire, public transport, vehicle purchase and maintenance. A basket costing USD$1000 in New York costs USD$1160. Average average price over the last year for highest available octane petrol / gasoline (1L) is USD$2.10, while the benchmark car sedan purchase price including taxes/duties for a compact / small / economy vehicle (1.4 L) is USD$31,944. Hong Kong is 93.1% more expensive than Houston TX for groceries, 375.9% more expensive for household costs than Kuala Lumpur, and 96.8% more expensive for transport costs than Dubai. The hardship premium for Hong Kong for an expat from Perth, is for example 10%, i.e. host location (Hong Kong) premium of 20% minus home (Perth) location premium of 10%. Hong Kong is ranked as a some hardship location. Want to know more about cost of living, hardship (quality of living) or expat salary in Hong Kong? Register subscribe to your home location and Hong Kong and run your personalised reports.