Hong Kong MTR passengers face fare rises of 3% in June
- It is the second increase since authorities imposed a new formula that takes into account affordability for the public
- Several factors, including inflation and the MTR Corp’s productivity and profitability, are used to determine the fare rise
Hong Kong’s rail operator will raise fares by a maximum of 3.09 per cent this year, the second increase since authorities imposed a new formula that takes into account affordability for the public.
These factors would have resulted in a fare rise of 3.2 per cent. Along with a 1.85 per cent increase deferred from last year, the total adjustment would have been 5.05 per cent.
However, under a fare adjustment mechanism, the increase has been capped as it cannot be higher than the year-on-year change in a general household’s median monthly income, which was 3.09 per cent in the fourth quarter of 2023 according to official data.
Jeny Yeung Mei-chun, the MTR Corp’s Hong Kong transport services director, said on Tuesday that existing concessions worth HK$2.9 billion unrelated to the mechanism would continue in the coming year for all walks of life, including the elderly, children, eligible students and people with disabilities.
She also highlighted other MTR offers including: City Saver, a 40 single journey ticket valid for 40 days and costing HK$445; a 50 HK cents interchange discount with green minibuses; monthly passes; Tuen Mun-Nam Cheong day passes; and a 25 per cent early-bird fare discount for travel between 7.15am and 8.15am on weekdays.
