Singapore’s workforce brims with optimism while Hong Kong’s faces uncertainty, MDRi survey reveals

As the Lunar New Year ushers in the Year of the Snake, a symbol of wisdom and renewal, stark differences in optimism between Singapore and Hong Kong residents reveal contrasting economic realities and life priorities. A recent survey by MDRi, involving 1,000 participants from both cities, highlighted the growing optimism among Singaporeans while uncovering significant uncertainties in Hong Kong.

According to the survey, 51% of Singaporeans express optimism about 2025, compared to only 29% of Hong Kong residents. This disparity is more than a matter of perception; it reflects the broader economic trajectories of the two cities.

Singapore’s economy is projected to grow by 2.8% in 2025, supported by strong performance in 2024 and improving external demand. In contrast, Hong Kong’s GDP growth is expected to slow to 2%, weighed down by high interest rates and ongoing trade tensions with the US. This economic divergence is mirrored in personal confidence levels, with 57% of Singaporeans feeling assured in achieving their goals for the year, compared to just 34% in Hong Kong.

The survey also underscored a gap in happiness metrics, with 55% of Singaporeans reporting contentment in their daily lives versus 43% in Hong Kong. Key drivers of happiness across both cities include financial stability, health, and family. However, financial worries remain a pervasive issue, particularly among younger generations in Hong Kong. Gen Z and millennials in the city report heightened anxiety over finances in a sluggish economy, while older generations prioritise other concerns. In Singapore, while financial stability remains crucial, family and health emerge as central pillars of happiness, offering a more balanced outlook.

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Amid these economic challenges, health emerges as a common priority for residents in both cities. The Year of the Snake, associated with healing and transformation, underscores the growing focus on wellbeing. Singaporeans prioritise family alongside health, while Hong Kong residents increasingly emphasise financial stability and health issues. The emphasis on health points to growth opportunities in the health sector. As populations in both cities age, demand for health-related services is expected to rise, creating avenues for innovation and investment in healthcare and wellness solutions.

Simon Tye, CEO of MDRi, commented, “The survey highlights the divergent trajectories of Hong Kong and Singapore, shedding light on the economic challenges and growth opportunities within the health sector for 2025. Understanding these differences will enable stakeholders to navigate the complexities ahead.”