hkskyline
January 25th, 2006, 05:33 PM
Hong Kongers to share the wealth at Lunar New Year holiday: survey
HONG KONG, Jan 25, 2006 (AFP) - Hong Kong's booming economy will translate into goodwill during the coming Lunar New Year festivities with a survey Wednesday suggesting celebrants plan to give more expensive gifts than last year.
Lunar New Year is the southern Chinese territory's biggest holiday and the feelgood factor boosted by bumper 2005 growth of seven percent means traditional holiday gifts of "lai see", or lucky money, are likely to be fatter.
According to a poll of 500 people by market research company TNS, not only do more people intend giving lai see this year -- 72 percent compared to 62 percent last year -- but some 40 percent of them said they would give more money than before. Another 40 percent said they would give as much.
The survey found that a super-rich one percent of people said they would give out up to 100,000 Hong Kong dollars (12,820 US dollars) during the festive season.
Most people said they would give between 1,000 dollars and 4,000 dollars.
Just over half the respondents said they would also be spending more on food and other holiday items during the festival, which begins January 29 and runs for two weeks into early February.
Lai see money is traditionally given in "red packet" envelopes and is handed out by bosses to their staff and by elderly people and parents to younger family members.
HONG KONG, Jan 25, 2006 (AFP) - Hong Kong's booming economy will translate into goodwill during the coming Lunar New Year festivities with a survey Wednesday suggesting celebrants plan to give more expensive gifts than last year.
Lunar New Year is the southern Chinese territory's biggest holiday and the feelgood factor boosted by bumper 2005 growth of seven percent means traditional holiday gifts of "lai see", or lucky money, are likely to be fatter.
According to a poll of 500 people by market research company TNS, not only do more people intend giving lai see this year -- 72 percent compared to 62 percent last year -- but some 40 percent of them said they would give more money than before. Another 40 percent said they would give as much.
The survey found that a super-rich one percent of people said they would give out up to 100,000 Hong Kong dollars (12,820 US dollars) during the festive season.
Most people said they would give between 1,000 dollars and 4,000 dollars.
Just over half the respondents said they would also be spending more on food and other holiday items during the festival, which begins January 29 and runs for two weeks into early February.
Lai see money is traditionally given in "red packet" envelopes and is handed out by bosses to their staff and by elderly people and parents to younger family members.