The Hong Kong Consumer Voucher Scheme Attempts to Rehabilitate the Economy from the Shock of Covid-19 Pandemic

DOI

10.2991/assehr.k.211209.307How to use a DOI?

Keywords

Consumption Voucher Scheme; Covid-19; Hong Kong; Economic Recovery

Abstract

The Consumer Voucher Scheme (CVS) is an unprecedented policy in Hong Kong that is implemented to aid the economy’s recovery from the Covid-19 pandemic. The CVS’s effectiveness is debatable in terms of its cost benefits analysis, since it accounts for a sizable budget in the sake of boosting consumption and therefore accelerating economy recovery. The method of research is based heavily on government official websites and news reports, which provides the most authoritative information on the policy. This paper critically evaluates the pros and the cons of CVS, and the final judgement was that the scheme can be an effective policy to stimulate local consumption, rescue retail and catering industries and improve people’s living standards in the short-term, but the long-term effect of this policy remains to be seen.

Copyright

© 2021 The Authors. Published by Atlantis Press International B.V.

Open Access

This is an open access article under the CC BY-NC license.

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TY  - CONF
AU  - Xing Yu Zenith Yao
AU  - Haiwen Wu
AU  - Boyan Shang
PY  - 2021
DA  - 2021/12/15
TI  - The Hong Kong Consumer Voucher Scheme Attempts to Rehabilitate the Economy from the Shock of Covid-19 Pandemic
BT  - Proceedings of the 2021 3rd International Conference on Economic Management and Cultural Industry (ICEMCI 2021)
PB  - Atlantis Press
SP  - 1887
EP  - 1891
SN  - 2352-5428
UR  - https://doi.org/10.2991/assehr.k.211209.307
DO  - 10.2991/assehr.k.211209.307
ID  - Yao2021
ER  -