Hong Kong hit a record low in births last year despite a range of government incentives, including a HK$20,000 (US$2,560) baby cash bonus for new parents launched in 2023. Just 31,714 babies were born last year.
This might have come as a surprise for the authorities, which had projected a rise to 39,000 births.
So was the baby bonus worth the try? Yes, if we can draw insight from the experience.
To be fair, it wasn’t the only thing the government had done to encourage babies. It rolled out tax breaks for families with newborns, shortened the wait for public housing for them and gave them priority for subsidised flats.
Recognising that women, now better educated and more career-minded, are pushing childbearing till later, the government also increased service quotas for in vitro fertilisation in public hospitals. It’s a race against time for both aspiring mothers and the government, but policies – like encouraging IVF – need more time to come to fruition.
Couples consistently report that the main factor is the financial burden of raising children in this city. But that’s not all – it’s also about whether they feel Hong Kong offers a suitable environment.
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