The Executive Council today (7th) applied for a fare increase by tram, and the adult fare will be increased from HK$2.6 to HK$3. The revised fare will take effect from July 11 this year, one month following publication in the Gazette.
After the fare increase for trams, the fare for people aged 12 or above will be increased from the current HK$2.6 to HK$3, and the child ticket (under 12 years old) will also be increased from HK$1.3 to HK$1.5; the monthly pass will be increased from HK$220 to HK$260. In addition, the fare for the elderly (people aged 65 or above) will also be increased from the current 1.2 yuan to 1.3 yuan. Tourist tickets will be cancelled.
The tram, commonly known as “Ding Ding” with a history of more than 100 years, is a unique means of transport on Hong Kong Island. However, in the past two years, the number of tourists in Hong Kong has plummeted due to the epidemic, and the operation of tram companies has become increasingly difficult. The Hong Kong government said that since the fare adjustment of trams in July 2018, in the face of competition from other public transport, as well as being affected by the epidemic and necessary social distancing measures for a long time, the passenger volume of trams has continued to decline, and its fare income has decreased accordingly. . There is also limited scope for tram companies to further increase non-fare revenue, with their profitability plunging from 18% in 2018 to -1.3% last year. Given the current financial situation of the tram companies, it is necessary to adjust the fares to maintain their financial sustainability.
