HONG KONG: In case you hadn't noticed, the quality of life of people in Hong Kong declined a bit last year, according to a university survey. The global financial turmoil has a good deal to do with dumping the quality of life index back to where it was around the time of the SARS outbreak of 2003.

The Centre for Quality of Life of the Chinese University of Hong Kong (CUHK) compiled a composite index to measure and trace the quality of life in Hong Kong back in 2002, when the index was set at 100. Apart from a few setbacks the climb in the index has been pretty constant. The 2008 index, however, fell back to 104.93, four percentage points lower than in 2007 and the lowest since 2003.

The index comprises of 21 indicators grouped into three sub-indices, including social, economic and environmental factors.

Ten out of the 21 indicators came up with a lower score for 2008. Nine were higher. Among the sub-indices, the social and economic benchmarks recorded declines. The economic index hit its lowest point in the seven years the survey has been undertaken.

Housing affordability was evaluated most poorly. The indicator sank 33 percent compared to 2007. The public attitude towards economic conditions in Hong Kong last year also declined by 30 percent.

Chairman of CUHK's department of economics Sung Yun-wing said the drop in the economic sub-index owes to the economic crunch with which the Lehman Brothers' minibond crash was part and parcel.

"The financial crisis in the second half of 2008 was the worst since World War II," he said.

He predicted the jobless rate will continue to climb this year. However, as the economy has started to recover, Sung estimated the public would not have the same sour assessment on this year's economic performance.

Under the social index, the government performance index registered the lowest score, showing a 29 percent decline from 2007. Thus, the government failed to score many points with the people for its performance last year.

Nevertheless, the quality of surroundings got a boost. The environmental sub-index was the only one that showed an improvement.

All indicators of the sub-index, including air quality, water quality, noise pollution and the recycle rate of municipal solid waste showed better scores.

(HK Edition 08/14/2009 page1)