Expensive for accommodation, surprisingly affordable for food and transport
Hong Kong has a reputation for expense that is partially earned and partially misleading. Accommodation is genuinely expensive. Food, transport, and many activities are much more affordable than visitors expect.
Accommodation
Budget guesthouse or hostel (Kowloon): HKD $200-500/night ($25-65). Mid-range hotel: HKD $700-1,500/night. Luxury hotels: HKD $2,000-5,000+/night. Kowloon is significantly cheaper than Hong Kong Island for accommodation — the Jordan and Yau Ma Tei areas have the best budget options.
Food
Cha chaan teng breakfast: HKD $30-60. Dai pai dong street food: HKD $50-100 per meal. Local restaurant lunch/dinner: HKD $60-120. Dim sum at mid-range restaurant: HKD $150-250 per person. Fine dining: HKD $500-1,500+ per person. Eating local keeps food costs very manageable in what is otherwise an expensive city.
Transport
MTR single journey: HKD $5-20. Octopus card (most efficient): load HKD $100-200 for a few days. Star Ferry: HKD $3.40. Tram on Hong Kong Island: HKD $3 any distance. Transport in Hong Kong is genuinely affordable.
Attractions
Victoria Peak Sky Terrace: HKD $55. Peak Tram: HKD $55-88. Tian Tan Big Buddha + cable car: HKD $185-225. Hong Kong Disneyland: HKD $639+. Many great experiences (temples, markets, harbor promenade, street food) are free or very cheap.
Daily total
Budget (hostel, local food, MTR): HKD $500-800/day ($65-100). Mid-range: HKD $1,200-2,000/day.