Hong Kong Income Inequality

The income inequality in Hong Kong has been more and more serious as the income growth for rich people outweighed the poor. By using the overall Gini coefficient as measurement, we can see that it is the highest since the figures were recorded. 30 years ago, Hong Kong experienced high income mobility as the manufacturing industry prospered. Many people who moved from category 1 to 5 were not due to high education background. However, Hong Kong has transited to financial sector which high education background is needed to succeed.

The wealth gap between the rich and poor has widened further with the overall Gini coefficient, representing income disparity, at its highest since the figures were recorded.