| Updated On - Oct 24, 2024
Deciding to live in Hong Kong as a student has its own advantages. However, the cost of living is quite high and requires a special approach to the issue of expenses. It ranges from tuition fees, accommodation fees, miscellaneous expenses, to even pocket money.
For instance, it would cost about 17,279 HKD (1,86,931 INR) to rent a one-bedroom flat in the city center. A single ride in public transport could cost approximately 12 HKD (129 INR) and a monthly pass at 500 HKD (5,410 INR). This article will share helpful information about life in Hong Kong for a student. If approached correctly, you will be able to get the best of the educational and cultural institutions.
Cost of Living in Hong Kong
The cost of living in Hong Kong also depends on the region, with the central region being relatively more expensive than the suburban or outskirts. Accommodation prices, canteen charges, and transportation expenses may vary from one area to another like Sha Tin, Tsuen Wan, Kowloon, and many more. Knowledge of these differences may be useful in managing spending when living in a big city. For example, the average rent for a one-bedroom apartment in the city center is approximately 17,279.07 HKD (1,86,931 INR). However, the cost of living for an apartment (1 bedroom) outside of the centre is about 12,023 HKD (1,30,089 INR).
Transportation Costs in Hong Kong
Transportation in Hong Kong can get expensive very quickly, but there are ways to keep the costs low. The MTR, buses, and ferries offer efficient means of getting around the city at an affordable rate. Checkout the table given below to get proper details about the transportation cost:
| Item | Average Price (HKD) | Average Price (INR) |
|---|---|---|
| One-way Ticket (Local Transport) | 12 | 129 |
| Monthly Pass (Regular Price) | 500 | 5,410 |
| Taxi Start (Normal Tariff) | 27 | 292 |
| Taxi 1km (Normal Tariff) | 10 | 108 |
| Taxi 1 hour Waiting (Normal Tariff) | 114 | 1233 |
| Gasoline (1 liter) | 23 | 248 |
| New hatchback car | 259,800 | 28 Lacs |
Cost of Groceries in Hong Kong
The price of groceries in Hong Kong can change depending on your shopping preference. Local markets and chain supermarkets provide affordable options, but imported goods can be much more expensive. Choose local produce and shopping smart to cut grocery budgets. In the table given below is the idea of the cost of groceries in Hong Kong:
| Item | Size | Average Price (HKD) | Average Price (INR) |
|---|---|---|---|
| Milk (regular) | 0.25 liter | 6 | 64 |
| Loaf of Fresh White Bread | 125.0 g | 4 | 43 |
| Rice (white) | 0.1 kg | 1 | 10 |
| Eggs (regular) | 2.4 pieces | 5 | 54 |
| Local Cheese | 0.1 kg | 21 | 227 |
| Chicken Fillets | 0.15 kg | 10 | 108 |
| Beef Round (or Equivalent Back Leg Red Meat) | 0.15 kg | 24 | 259 |
| Apples | 0.3 kg | 8 | 86 |
| Banana | 0.25 kg | 5 | 54 |
| Oranges | 0.3 kg | 8 | 86 |
| Tomato | 0.2 kg | 5 | 54 |
| Potato | 0.2 kg | 4 | 43 |
| Onion | 0.1 kg | 2 | 21 |
Also Check: Scholarships in Hong Kong
Smart Tips for Saving Money in Hong Kong
Hong Kong can be expensive, but you can manage your finances with smart strategies. Here are some fantastic tips to help you handle your finances:
- Take the MTR and buses rather than taxis.
- Have affordable meals in dai pai dong (street food stalls) or local eateries.
- Buying fresh produce or souvenirs, visiting the local markets.
- Browse for student or senior citizen discounts in shops and places of interest.
- Use the Octopus Card for transport and discounted shopping at convenience stores.
- Look for free parks, beaches, and cultural events to explore.
- Fresh ingredients from the local markets can be cooked at home.
- Happy hour deals are excellent at bars and restaurants.
- Earn points, exclusive discounts, and other rewards by joining loyalty programs at stores.
Challenges in managing the cost of living as a student in Hong Kong may appear overwhelming at times, but if addressed earlier, it can be both feasible and worthwhile. Enjoy the city’s employment and cultural richness, but make sure you watch your spending. With the right knowledge and choice in accommodation, food, and entertainment, students and the workforce can have a rewarding experience in Hong Kong. Keep in mind that every difficulty is a learning process that leads to maximizing the great experience!
FAQs
Ques. How expensive is accommodation in Hong Kong for students?
Ans: Accommodation in Hong Kong, particularly in central areas, is notably expensive. The average rent for a one-bedroom apartment in the city center is approximately 17,279 HKD (around 1,86,960 INR). For those seeking more affordable options, the cost of living for a one-bedroom apartment outside the city center is significantly lower, averaging about 12,023 HKD (1,30,089 INR).
Ques. How much does public transport cost in Hong Kong?
Ans. Public transport in Hong Kong is reasonably priced. A one-way ticket on local transport costs around 12 HKD (INR 129), and a monthly pass is available for approximately 500 HKD (5410 INR).
Ques. What is the average cost of groceries in Hong Kong?
Ans. The cost of groceries in Hong Kong varies depending on where you shop and what you buy. Local markets offer affordable options, with items like milk priced at around 6.22 HKD (67.30 INR) for 0.25 liters. It also helps in making it possible to manage food expenses on a student budget.
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