Hongkongers’ average monthly savings soar to HK$9,800, while pre-retirees need HK$5.45 million to retire with sufficient “sense of security”
HONG KONG SAR – Media OutReach Newswire – 26 November 2024 – The Hong Kong Deposit Protection Board (HKDPB) has conducted its “Hongkongers’ Sense of Security on Savings” survey for the seventh consecutive year. According to the survey results of this year, the average monthly savings of Hongkongers have surged to HK$9,800, marking a nearly 10% growth from the last year, and setting a new record since the survey began. 40% of respondents reported saving an average of HK$10,000 or more each month, up 6 percentage points from last year. Additionally, 67% of respondents indicated that they have a habit of saving, which is similar to last year’s result. Given the bank deposit interest rates remaining high and the uncertainties of prevailing investment and market, nearly 80% of respondents save through by bank deposits or time deposits, approximately 5 percentage points higher than last year.
