Is Hong Kong’s economic slowdown putting a price on love over Valentine’s Day?
Survey finds 48 per cent of men and 36 per cent of women plan to celebrate occasion at home, compared with 17 per cent and 19 per cent in 2024
Hong Kong’s slowing economy has put love to the test, with nearly half of men in relationships saying they plan to scale back Valentine’s Day celebrations this year by staying home, according to a survey from a matchmaking service.
The results of the poll released by HK Romance Dating on Wednesday found that 48 per cent of men said they planned to celebrate the occasion at home – the highest level in the survey’s five years and a sharp increase over the 17 per cent recorded last year.
For this year’s survey researchers interviewed 461 couples between mid-January and early this month.
The poll found 36 per cent of female respondents planned to stay in, compared with 19 per cent in 2024.
“This year, the economy worsened, so people are not very willing to spend or are more inclined to stay at home for celebrations,” said Winson Yu Ka-shing, the company’s marketing manager.
Hong Kong’s economic growth slowed to 2.5 per cent last year, down from 3.2 per cent in 2023. Retail sales also declined for 10 consecutive months as of December, falling by 9.7 per cent year on year that month.
Interest in giving gifts on Valentine’s Day has also fallen, with 27 per cent of men having no plans to buy their partners a present, up from 22 per cent last year.