In Hong Kong, a new taxi licence costs 6.78 HKD (870K USD). For many years, the high cost of a taxi licence has been a source of contention in Hong Kong.
A taxi licence cost HK$5.6 million (US$719,000) in 2003. In 2007, the cost rose to HK$7.
2 million (US$924,000), then to HK$9.6 million (US$1.23 million) in 2011.
The high cost of a taxi licence has made new entry into the taxi business difficult, and has been criticised by some as a barrier to competition.The Land Transport Authority (LTA) determines the cost of a taxi licence in Hong Kong. The LTA determines the taxi licence charge based on its belief that it will pay the costs of providing the taxi service, including licencing, enforcement, and regulation.
Every three years, the LTA examines the taxi licence charge.For many years, the high cost of a taxi licence has been a source of contention in Hong Kong. A taxi licence cost HK$5.
6 million (US$719,000) in 2003. In 2007, the cost rose to HK$7.2 million (US$924,000), then to HK$9.
6 million (US$1.23 million) in 2011. The high cost of a taxi licence has made new entry into the taxi business difficult, and has been criticised by some as a barrier to competition.