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The Macau Economic Association claimed in a survey that the economic downturn has caused local residents to feel the least happy in six years
Amid the current economic downturn, local residents are less happy than in the previous five years citing less satisfaction with their work, the economic situation and the whole employment environment, reveals the city’s Happiness Index survey, released yesterday.
The study, jointly conducted by the Macau Economic Association and the Macau Polytechnic Institute’s Gaming Teaching and Research Centre, marks local residents’ general happiness at 6.89 out of 10 points, down 1.4 per cent from the 6.99 points of last year, and the lowest since the study started in 2010.
Having interviewed 1,017 local residents over 18 years old in November, the researcher claims that 26.5 per cent of the interviewees perceive their economic income worsening this year. The percentage is the highest in six years.
In addition, some 26 per cent of interviewees claim they are less happy compared to the previous year, of which the proportion is also the highest since 2010.
Less satisfied with employment environment
In terms of elements, the study finds that local residents’ satisfaction of the local employment environment has dropped the most significantly - by 5.7 per cent to 6.62 points this year.
Transportation, at 4.21 points, continues to be the most unsatisfactory element for the city’s residents for the fourth consecutive year, followed by living environment and the consumer price index, which scored 5.59 and 4.84 points, respectively.
In particular, a notable decline of 3.3 per cent was also observed in residents’ satisfaction with the government’s overall administration.
The president of the association, Lao Chi Ngai, urged in the report that the city’s different sectors should implement the Chief Executive’s policies of boosting the local economy, warning the city should request the central government to introduce measures to support the city’s economic development when it is necessary.
“The rapid growth of GDP may not effectively enhance people’s happiness, but the downturn of the economy always affects people’s happiness,” the academic noted. He also indicated that improving the living environment and resolving housing problems would help increase the city’s general happiness.
“Despite the macro-economy entering a deep adjustment phase with housing prices dropping, such prices are still way beyond the purchase ability of local residents…It will be [useless] to increase residents’ happiness as they are not able to fulfil their housing dream,” he wrote.
Nevertheless, compared with the happiness index conducted by the Organization for Economic Co-operation and Development (OECD) which evaluates 34 countries, the happiness level of local residents exceeds the global average of 6.66 points - although the city’s general happiness is lower than Hong Kong’s 7 points.
Source
Amid the current economic downturn, local residents are less happy than in the previous five years citing less satisfaction with their work, the economic situation and the whole employment environment, reveals the city’s Happiness Index survey, released yesterday.
The study, jointly conducted by the Macau Economic Association and the Macau Polytechnic Institute’s Gaming Teaching and Research Centre, marks local residents’ general happiness at 6.89 out of 10 points, down 1.4 per cent from the 6.99 points of last year, and the lowest since the study started in 2010.
Having interviewed 1,017 local residents over 18 years old in November, the researcher claims that 26.5 per cent of the interviewees perceive their economic income worsening this year. The percentage is the highest in six years.
In addition, some 26 per cent of interviewees claim they are less happy compared to the previous year, of which the proportion is also the highest since 2010.
Less satisfied with employment environment
In terms of elements, the study finds that local residents’ satisfaction of the local employment environment has dropped the most significantly - by 5.7 per cent to 6.62 points this year.
Transportation, at 4.21 points, continues to be the most unsatisfactory element for the city’s residents for the fourth consecutive year, followed by living environment and the consumer price index, which scored 5.59 and 4.84 points, respectively.
In particular, a notable decline of 3.3 per cent was also observed in residents’ satisfaction with the government’s overall administration.
The president of the association, Lao Chi Ngai, urged in the report that the city’s different sectors should implement the Chief Executive’s policies of boosting the local economy, warning the city should request the central government to introduce measures to support the city’s economic development when it is necessary.
“The rapid growth of GDP may not effectively enhance people’s happiness, but the downturn of the economy always affects people’s happiness,” the academic noted. He also indicated that improving the living environment and resolving housing problems would help increase the city’s general happiness.
“Despite the macro-economy entering a deep adjustment phase with housing prices dropping, such prices are still way beyond the purchase ability of local residents…It will be [useless] to increase residents’ happiness as they are not able to fulfil their housing dream,” he wrote.
Nevertheless, compared with the happiness index conducted by the Organization for Economic Co-operation and Development (OECD) which evaluates 34 countries, the happiness level of local residents exceeds the global average of 6.66 points - although the city’s general happiness is lower than Hong Kong’s 7 points.
Source