What Hong Kongers are saving their money for?
Inflation, however, is hindering them to pursue these goals.
Hong Kongers are saving up their money for holidays and travel (40%), to ensure that they can keep up with rising costs (39%), and for retirement (35%), a report by Standard Chartered showed.
They, however, are having a hard time pursuing these goals due to challenges like rising inflation (27%), uncertainty due to the pandemic (24%) and the global economy (23%).
In response to these challenges, Hong Kongers are drifting away from cash savings and investing their money in digital assets instead.
Data showed that 49% of investors are investing in digital assets, and 41% are planning to invest more in the asset class in 2023.
More than (60%) of investors are also putting their money in sustainable funds and planning to invest more in the asset class in 2023.
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