Hybrid to full-time office: Hong Kong workers seek 6% hike. Here's why
livemint.comCBRE Group Inc. Compounding the issue, mainland companies, which historically contributed to rising rentals, accounted for only 11% of new leases in 2023, down from 18% in 2021. In response to the potential demand for increased in-office presence, 27% of respondents sought a salary raise, predominantly targeting a 6% or higher increment, while another 24% contemplated changing jobs to secure flexible work arrangements.
The sample of 350 respondents, chosen based on criteria specified by Bloomberg Intelligence, was designed to represent a diverse cross-section of age, geography, and gender. Hong Kong ranked as the fifth most expensive city in the world in 2023, highlighting the high cost of living for expatriates, as per a Mercer Cost of Living Survey 2023. Last year, Hong Kong transport authorities proposed raising the toll of two harbour tunnels by HK$10 (US$1.27) each, starting from August 2, 2023.
Additionally, the toll for the most expensive Western Harbour Tunnel was set to be reduced by HK$15 following the end of its franchise agreement, according to a report by South China Morning Post. During the same period, the MTR Corp announced an overhaul of its controversial fare adjustment mechanism, with the increase for the year estimated at 2.45%, the report further added. Amidst the pandemic, their focus shifted to the transformative impact of COVID-19 on work dynamics.
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