Smaller red packets expected Survey: HKers to cut back on Lunar New Year spending2014.01.24
LAI see packets will be thinner this year, and vendors who spent millions of dollars renting stalls at the Lunar New Year (農曆新年) fairs can expect smaller earnings. These are the findings of the Democratic Alliance for the Betterment and Progress of Hong Kong (DAB, 民主建港協進聯盟). The political party surveyed 700 people this month. It found that 74.6 percent of respondents will be giving out red packets this year while 25.6 percent will not. However, 60.8 percent of those giving lai see said they will put only HK$10 or HK$20 in the packets. Last year it was 30 percent. About 10 percent will distribute red packets with HK$10 or less. According to the survey, 18.4 percent will hand out lai see of between HK$20 and HK$50; 8.4 percent between HK$50 and HK$100; while only 2.3 percent will give HK$100 or more. In comparison, last year 23.5 percent said they would give HK$50, 29.9 percent would give HK$100, 4.6 percent between HK$200 and HK$300 and 9.4 percent would give HK$500.
According to the DAB, 60 percent said they will limit spending at Lunar New Year fairs to HK$300, 19.9 percent between HK$300 and HK$500, and 19 percent at more than HK$500.
DAB Deputy Secretary Ip Ngo-tung(葉傲冬) said the inflation and no obvious changes in salary, people will spend more carefully at this time of the year.