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Hong Kong MTR to raise fares by 3% in June

The city's railway operator increases its fares for another year

Jenny Leung
Written by
Jenny Leung

In an announcement on Tuesday March 26, the MTR Corp revealed that fares will be raised for the second consecutive year, with plans to increase ticket prices by 3.09 percent in June this year. 

Taking public affordability into account, the fare increase is determined based on statistical data from the government's Census and Statistics Department. This includes considering the annual changes in the Nominal Wage Index (Transport), the year-on-year change in the Composite Consumer Price Index (CCPI), as well as the latest calculation of the Productivity Factors.

Based on these factors, it was calculated that the MTR fare increase for 2024 will be 3.2 percent. However, the MTR has also implemented a fare-capping mechanism with an 'affordability ceiling' to ensure that the fare will remain within the means of the public. As a result, the formula adjusted the price hike to 3.09 percent, with the remaining 0.11 percent to be recouped in the subsequent two years.

A formal announcement of the new fares and its effective date will be made at a later date, so keep your eyes on our page.

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