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| Migrant domestic workers contributed HK$98 billion to Hong Kong's economy in 2018 |
A new study shows that foreign domestic workers contributed
a staggering US$12.6 billion (HK$98.02billion) to Hong Kong’s
economy in 2018, representing 3.6 of the city’s gross domestic product or GDP.
The breakthrough finding was contained in a report jointly released
on Mar 6 by global information services company Experian and Hong Kong-based
charity Enrich.
The report, “The Value of Care: Key Contributions of Migrant Domestic Workers to
Economic Growth and Family Well-being in Asia”, calculated
comprehensively for the first time the economic contribution of migrant
domestic workers in Hong Kong, Malaysia and Singapore.
The
study, commissioned by Experian and conducted by international market research firm Frost & Sullivan,
showed that migrant workers’ contribution was the biggest in Hong
Kong. In Singapore,
the migrants’ contribution to the economy was US$8.2 billion (or 2.4% of the GDP); and
in Malaysia,
US$0.9 billion (0.3% of the GDP).
Lucinda
Pike, executive director of Enrich said: “Domestic
work is, in many ways, invisible and undervalued work that disproportionately
falls on women, often migrants. We are thrilled that this research shows how
the presence of domestic workers unlocks extra economic potential.”
The
report said the migrants’ final contribution figure was calculated according to
the real value that they add
based on the cost of domestic work if paid at local rates, the value of their own
personal spending in Hong Kong and value of freed-up time. For example, migrant
workers enable dual incomes in each household by freeing more women to join the
workforce.
In
Hong Kong, it was found out that only 49% of
women (at the prime working age of 25-54) with children would be able to join
the labour force if they did not employ a FDW. But if they do, this labour
force participation increases to 78%.
By
enabling more women to join the labour force, migrant workers indirectly add
US$2.6 billion (HK$20.1 billion) to Hong Kong’s economy, US$2.6 billion (SG$3.5
billion) to Singapore’s economy and US$0.23 billion (MYR929 million) to
Malaysia.
This
is on top of their contribution to family well-being.
Despite their important
contribution, the research also showed a significant lack of access for migrants
to participate in Hong Kong’s vibrant economy. For example, only 18% of migrant workers
were found to have bank accounts either because they lack funds or financial
knowledge and awareness, and because of strict bank regulations.
Also noted
was the alarmingly high level of debt among migrants in Hong
Kong, with, 83% of them reporting being in debt.
In comparison, 51% of migrant
domestic workers in
Singapore
and 86% of those in
Malaysia
have bank accounts. The number of those who are reported to be in debt is also
lower in both places, at 34% and 65%, respectively.
Sisca Margaretta, chief marketing officer
of Experian Asia Pacific, said it is important to equip migrants with financial
information and access to help them move ahead in life.
“Building equal opportunities for
inclusion across genders and socio-economic groups is key to developing
thriving economies and communities in Asia Pacific. Only by arming all groups
with financial knowledge and access will we be able to start addressing the
financial difficulties they face and help resolve the region’s financial
inclusion challenges,” Margaretta said.
In a statement, Enrich said that Hong
Kong needs to make sure it remains an attractive city for migrants
to work in by recognizing the economic value of the care and domestic work they
provide.
This is particularly important with the rapidly ageing
populations, lower
fertility rates, and little or no affordable care services in countries across Asia and the Pacific, where over 21 million migrant
domestic workers are now based.
“This demand is only set
to grow in the future; in Hong Kong the
government has projected a total need of 600,000 MDWs by 2047. As more doors
open for migrant domestic workers across Asia, the future of care in Hong Kong depends on ensuring that it remains an
attractive city to work in,” the
statement said.
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