Fidelity Survey finds over half of Hong Kong adults are optimistic about 2022
Fidelity International (Fidelity) has announced the results of its Global Sentiment Survey*.
As the pandemic situation has begun to stabilise in Hong Kong, over half (53%) of respondents said they are optimistic about the coming year across different aspects of life, including health, work, social life and the ability to meet long-term financial goals.
The positive sentiment is shared across the 16 surveyed markets, over half of total respondents (54%) and the majority of respondents in China (84%) are optimistic. The negative impact of the pandemic continued to weigh on - 35% and 40% of Hong Kong respondents, who felt ‘very’ or ‘extremely’ worried and fatigued respectively, mainly due to loss of income and the deterioration of living standards. However, the ability to stay home (39%), the improvement in general health (37%) and the ability to save more (37%) has driven some to stay positive.
Almost half of Hong Kong adults said they spent less than they could afford to during the surveyed period due to the restrictions of COVID-19. As a result, 30% of respondents reported an increase in savings, with older workers (aged 55+) (35%) benefitting the most, as compared to middle-aged (aged 39-54) (25%) and younger workers (aged 20-38) (30%).
In addition, over half of Hong Kong adults said they have invested more. The main reasons are:
- Respondents see that investments can generate greater returns than savings (25%)
- There is some spare money (20%)
- There is more time to learn more about investing (12%)
The survey also revealed that older workers (64%) are more eager to invest, as compared to younger workers (58%) and middle-aged workers (49%).
Charlotte Chan, Head of Distribution, Hong Kong Workplace and Personal Investing at Fidelity International said: “Understanding investment concepts takes time and effort before one can see a good outcome, just like picking up any new skills. Fidelity has always focused on investor education - from the basics to sophisticated ideas. It is encouraging to see positive sentiment among Hong Kong adults, who are making good use of their spare time and money as a result of the pandemic. Financial priority may vary during different life stages, so does the appropriate investment strategy. It is always important to find a balance in meeting short term needs and long-term goals. Staying invested is an important step to achieving long term financial wellness even for retirees. Retirees should withdraw their pension by stages to fit their financial needs, while keeping the remaining amount invested for potential growth in the long-run.”
Learn more: Fidelity.com.hk/retirement-solution