Every permanent resident above the age of will receive around 18, (HKD, worth around $ 1, 728. In the foreseeable future, at least until the end of , residents will not have to pay taxes on salaries with a 26, (HKD cap.
Regular protests and the coronavirus outbreak caused the tourism industry of Hong Kong to take a big hit.
Hotels and restaurants have started to see a plunge in sales , causing instability in one of the largest industries in the region that supports the livelihood of hundreds of thousands of l ocal residents.
The travel industry of Hong Kong was already in decline before the coronavirus outbreak geared towards it peak.
With Hong Kong University’s dean of medicine Gabriel Leung
expecting the worst of coronavirus to come
in May, it remains unclear whether these benefits will be sufficient to assist local residents.
since the fourth quarter of .
With virtually no tourists coming into the region in the past two months and no improvements anticipated in the local tourism sector until , the economy of Hong Kong could struggle to recover for the next five years.
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