It's one of the most Western tourist friendly parts of China mainly due to the relatively recent departure of the British and the fact that they've left behind a load of bilingual signage. The city is easy to navigate and logically set out so despite it's rather imposing appearance it's difficult to get lost. Add the neon, the markets, the reastaurants baring all kind of cubed poultry and you're in for an exciting time here.
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Budget Accommodation
There are more places to stay cheaply in Hong Kong than you could ever hope for. There's no particular area for budget accommodation, it's spread far and wide so take your pick. There are backpacker hostels with dorm rooms, cheap guesthouses and low end hotels. And there's no shortage, the only problem you might have is finding some of those with slightly obscure addresses, sometimes hostels are part of otherwise unmarked residential blocks.
A traveller's Budget for Hong Kong and Macau
Use the underground (MTR) - it's fast, efficient, easy to use, cheap and absolutely spotless. It's worth a ride just to marvel at the cleanliness of the place. Otherwise there's good obvious bus services which don't cost much either.
To eat cheaply you just have to go slightly off the main thoroughfares - behind the bilingual shiny facades and neon lights there's a wealth of reastaurants catering to the locals. The menus are all in Chinese but they often have pictures and there's always pointing. Choose a busy place, it's the best sign of quality, and try not to look too hard at the cleanliness.
Budget Activities
Climb Victoria Peak (you can walk but it's more fun to take the alarmingly steep tram)
Visit the night market in Kowloon (it's only a budget option if you don't spend your money. Remember to haggle).
Go to a temple, even if you don't want to worship anything / anyone, it's worth the experience.
Wander up Nathan Road at night and look at all the neon lights.
Take a ferry to Lantau and see the big Buddha
