'Domestic Helpers Add Billions To HK Economy'

"); jQuery("#212 h3").html("

Related News Programmes

"); jQuery(document).ready(function() { jwplayer.key='EKOtdBrvhiKxeOU807UIF56TaHWapYjKnFiG7ipl3gw='; var playerInstance = jwplayer("jquery_jwplayer_1"); playerInstance.setup({ file: "https://newsstatic.rthk.hk/audios/mfile_1446372_1_20190306193717.mp3", skin: { url: location.href.split('/', 4).join('/') + '/jwplayer/skin/rthk/five.css', name: 'five' }, hlshtml: true, width: "100%", height: 30, wmode: 'transparent', primary: navigator.userAgent.indexOf("Trident")>-1 ? "flash" : "html5", events: { onPlay: function(event) { dcsMultiTrack('DCS.dcsuri', 'https://news.rthk.hk/rthk/en/component/k2/1446372-20190306.mp3', 'WT.ti', ' Audio at newsfeed', 'WT.cg_n', '#rthknews', 'WT.cg_s', 'Multimedia','WT.es','https://news.rthk.hk/rthk/en/component/k2/1446372-20190306.htm', 'DCS.dcsqry', '' ); } } }); }); });

2019-03-06 HKT 19:16

Share this story

facebook

  • The Enrich organisation says Hong Kong owes much of its economic success to foreign domestic helpers. Photo: RTHK

    The Enrich organisation says Hong Kong owes much of its economic success to foreign domestic helpers. Photo: RTHK

A new study shows foreign domestic workers in Hong Kong contributed almost HK$100 billion to the city's economy last year.

The study's organisers said it is now time to recognise the importance of the helpers' role in the SAR.

The report, which was the first of its kind, examined the economic contribution of migrant domestic workers in Hong Kong, Singapore and Malaysia last year.

It took into account the real value of the helpers' services such as cooking and cleaning, how much they spend in the local economy, and the value of time freed up for their employers because of their presence.

The charity group Enrich, which co-produced the report, said foreign domestic helpers in Hong Kong contributed an estimated HK$98.9 billion to the city’s economy in 2018, representing 3.6 percent of the city's GDP.

In Singapore, their contributions amounted to HK$63.9 billion and it was HK$7 billion in Malaysia.

The executive director of Enrich, Lucinda Pike, said Hong Kong owes much of its economic success to these helpers, and it's important for society to acknowledge their contributions.

Pike also said the fact that only 18 percent of maids have bank accounts in Hong Kong, and many of them are indebted, shows they're financially vulnerable.

She called on the government to give helpers more training and opportunities, especially in matters relating to money.

RECENT NEWS

SBI Holdings To Acquire Bitbank In US$289M Crypto Expansion

SBI Holdings has agreed to acquire Japanese crypto exchange Bitbank in a deal valued at approximately US$289 million, w... Read more

4 Ways Hong Kong Banks Fight Financial Crime Using AI, According To HKMA

The Hong Kong Monetary Authority (HKMA) wants banks to use AI in financial crime as a way to counter cyberattacks and s... Read more

Ripple Launches RLUSD Stablecoin In Japan Through SBI Group

Ripple has launched its US dollar-denominated stablecoin, Ripple USD, in the Japanese market. The expansion follows reg... Read more

SBI And Startale Launch Trust Bank-Backed Yen Stablecoin JPYSC In Japan

SBI Group has introduced its trust based stablecoin JPYSC in partnership with Singapore-based fintech company Startale ... Read more

Visa Study: Digital Wallets Lead Greater Bay Area Payment Preferences

Visa has released its latest Consumer Payment Attitudes Study, highlighting how payment seamlessness is linked to a shi... Read more

European And South Korean Banks Form Project Pangea For FX Settlement

Chainlink, South Korean infrastructure provider FairSquareLab, the Unified Korea Alliance (UniKA), and European stablec... Read more