Lai see givers tightening belts

(The Standard 28 Jan, 2014) As the Lunar New Year approaches, don't get your hopes up too high that you'll be getting many fat lai see packets.

 

According to the latest survey, 60 percent of respondents say they'll be putting just HK$20 in each red envelope.

 

Meanwhile, 17 percent say they will only be giving HK$10 or less, while 4 percent won't be distributing lai see at all.

 

On the more generous side, 13 percent of the 1,218 people interviewed earlier this month by the Hong Kong Research Institute plan to give HK$50, and 6 percent of respondents will dish out HK$100 or more.

 

About 60 percent said the total amount of lucky money they plan to give this Lunar New Year will be the same as last year, while nearly half said their total spending will also be the same.

 

The top three factors affecting spending decisions are market prices, personal income and urgent needs.

According to the survey, about 29 percent will prepare their festive foods at home, compared with 55 percent who did so when they were young.

 

More than half plan to eat their New Year dinners with their families at home, while 34 percent will dine out.

 

About 20 percent plan to spend less than HK$100 at New Year fairs this festive season.

QI LUO