Proceedings of the 2021 3rd International Conference on Economic Management and Cultural Industry (ICEMCI 2021)

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

Authors
Xing Yu Zenith Yao1, *, Haiwen Wu1, Boyan Shang1
1Hong Kong Yew Chung International School
1Zhangzhou Liren School
1Beijing Xin Fuxue International Academy
Corresponding Author
Xing Yu Zenith Yao
Available Online 15 December 2021.
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.

Download article (PDF)

Volume Title
Proceedings of the 2021 3rd International Conference on Economic Management and Cultural Industry (ICEMCI 2021)
Series
Advances in Economics, Business and Management Research
Publication Date
15 December 2021
ISBN
10.2991/assehr.k.211209.307
ISSN
2352-5428
DOI
10.2991/assehr.k.211209.307How to use a DOI?
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.

Cite this article

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  -