Hong Kong,
27
May
2015
|
12:10
Asia/Hong_Kong

The commuting cost challenge

28% of Hong Kong respondents spend 5% per cent or more of their annual take-home pay on commuting to work

 

Hong Kong, 27 May 2015 – The cost of travelling to work has almost doubled in the past five years, with new research by global workplace provider Regus revealing that workers worldwide now spend an average of 5% of their net take-home pay on their annual commute to work. The study surveyed more than 44,000 senior business people across more than 100 countries, including 365 respondents from Hong Kong.

 

Globally, workers spent an average of 3% of their annual take home pay on their commute in work and back in 2010, but recently the situation has worsened significantly. Last year (2014) in some parts of the world, such as South Africa, Brazil, France, India and Mexico, costs have risen even higher than the 5% average.

 

For a small but unlucky percentage of workers globally, the annual commute eats up far more of their income, with 14% of workers admitting they spend 10% or more of their earnings on travel. A further fifth spends over the average, reporting that 5-10% of their salary goes on commuting. Businesses that want to retain and attract top talent cannot fail to address the issue of such costly commutes.

 

Below is the estimate of the percentage of annual take-home pay respondents of the selected markets spent on commuting to work:

 

Global Ave

HK

Taiwan

Mainland China

S'pore

Japan

South Korea

UK

USA

A. Less than 1%

20%

21%

9%

16%

14%

28%

19%

31%

31%

B. 1-2%

18%

21%

15%

23%

17%

24%

23%

16%

21%

C. 2-5%

27%

30%

35%

32%

28%

30%

30%

24%

23%

D. 5-10%

20%

18%

24%

20%

25%

15%

22%

18%

16%

E. 10% or more

14%

10%

17%

10%

17%

4%

6%

11%

9%

(Source: Regus, January 2015)

 

“With living costs rising, every penny counts for the world’s workers. Yet travel expenses are accounting for a larger and larger slice of their yearly outgoings, in some cases making the commute to work prohibitively expensive and deterring prospective talent,” said Michael Ormiston, Country Manager, Regus Hong Kong.

 

“Flexible working can provide a solution for maxed out employees. Businesses that want to offer workers a real perk and retain valuable staff need to urgently address ways to reduce the cost of commuting by offering them the choice to work closer to home at least some of the time.”

 

Boilerplate

About Regus

 

Regus is the global workplace provider.

 

Its network of more than 2,300 locations in 850 cities and 104 countries provides convenient, high-quality, fully serviced spaces for people to work, whether for a few minutes or a few years. Companies like Google, Toshiba and GlaxoSmithKline choose Regus so that they can work flexibly and make their businesses more successful.

 

The key to flexible working is convenience and so Regus is opening wherever its 2.1 million members want support - city centres, suburban districts, shopping centres and retail outlets, railway stations, motorway service stations and even community centres.

 

Founded in Brussels, Belgium, in 1989, Regus is based in Luxembourg and listed on the London Stock Exchange. For more information, please visit: www.regus.com