Textbook Prices in Hong Kong Surge by 4%, Highest Increase in 8 Years
Hong Kong, July 2023 – The ConsumerCouncil of Hong Kong has reported a significant increase in textbook prices for the 2023/24 academic year, with an average price hike of4.0%. This marks the highest increase in eight years, surpassing the inflation rate of 2.1% by a considerable margin.
The Council’s investigation, which surveyed 897 widely used textbooks from 25 publishers, revealed that over 95% of these books experienced price increases. The rising costs have placed a significant financial burden on parents, who are already grapplingwith the rising cost of living.
The report attributes the price surge to a combination of factors. The declining student population, which has decreased by over 38,000 in the past six years, has led to a shrinkingtextbook market. This, coupled with the increasing demand for electronic learning materials and related resources, has driven up costs for paper-based publishers. These rising costs have ultimately been reflected in the price of textbooks.
The price increase is a significant concern for parents, especially those with multiple children, said a spokesperson for theConsumer Council. The rising cost of textbooks adds to the already significant financial burden of education.
The Council’s investigation focused on widely used books, which are defined as textbooks commonly selected by a large number of primary and secondary schools. The survey encompassed both textbooks listed on the Education Bureau’s RecommendedTextbook List (RTL) and those not included.
While the Council acknowledges the challenges faced by publishers, it urges them to consider the impact of price increases on families. Publishers should strive to maintain affordability while ensuring the quality of educational materials, the spokesperson added.
The Council also highlighted the need for greater transparencyin textbook pricing. It suggests that publishers provide clear explanations for price increases and consider offering discounts or subsidies to low-income families.
The report comes at a time when Hong Kong is facing a growing affordability crisis. The rising cost of living, coupled with stagnant wages, has put immense pressure on families. The increase intextbook prices is likely to exacerbate these financial difficulties.
The Consumer Council has called on the Education Bureau to take steps to address the issue of rising textbook prices. This could include providing financial assistance to families or exploring alternative models for textbook provision, such as shared resources or digital platforms.
The Council also recommends that parents considerexploring alternative options for obtaining textbooks, such as purchasing used books or sharing resources with other families.
We understand that education is a priority for all families, the spokesperson concluded. But it should not come at the expense of financial hardship. We urge all stakeholders to work together to ensure that education remains accessible and affordablefor all.
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