‘The Value of Care’ is a report jointly presented by Enrich and leading global information services company, Experian. This report comprehensively examines, for the first time, the economic contribution of migrant domestic workers in Hong Kong, Malaysia and Singapore.
Migrant domestic workers are undeniably a growing part of our lives in Asia. With an ageing population and a shortage of local care workers, the Hong Kong Government has acknowledged that our city is going to need up to 600,000 domestic workers by 2047. However, due to its nature, it is hard to place a value on domestic work – especially in economic terms.
This research shows that domestic work is a key contributor to economic growth and family well-being, and highlights the reliance of Hong Kong on MDW’s domestic and care services. How much, for instance, would families be paying for child and elderly care if a migrant domestic worker could not be employed? What is the real value of care and domestic work? How much do migrant domestic workers add to our economy, and what potential does financial literacy play in growing financial inclusion in the region?
With demand for domestic and care workers increasing across Asia, Hong Kong needs to act now to ensure that it becomes an attractive destination city, where domestic workers feel welcomed, respected and protected. Failing to do so could lead to strains on the availability of care, having knock on effects to the wider economy and individual family well-being.
Summary of findings (English)
Full report (English)