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HKEconomy3 days ago

Hong Kong ranks No 2 in global competitiveness with best showing in 7 years

Hong Kong has been ranked as the second-most globally competitive economy according to the International Institute for Management Development (IMD), marking its best performance in seven years. The city climbed one spot from last year, placing behind Singapore but ahead of Switzerland and Taiwan. The report highlights Hong Kong's improvement over three consecutive years and notes the strong performance of Asian economies at the top of the rankings. This result reflects sustained performance across key competitiveness factors including government efficiency, infrastructure, economic performance

Hong Kong has ranked as the second-most globally competitive economy – its best performance in seven years – climbing one spot from last year to place behind Singapore.

The ranking, released by the Switzerland-based International Institute for Management Development (IMD) on Thursday, put the city ahead of 68 other economies out of 70 surveyed.

Hong Kong’s position was surpassed only by Singapore, but the city was ahead of Switzerland and Taiwan.

The IMD noted Hong Kong’s rise to second place was built on three consecutive years of improvement and “reinforced the dominance of Asian economies at the top of the ranking”.

The city’s overall performance marked a rebound from 2023 when it was ranked No 7, and matched its No 2 position in 2019. In 2017, it was ranked No 1 out of 63 economies.

The report said the city’s rise reflected sustained performance across the four competitiveness factors measured: government efficiency, infrastructure, economic performance, and business efficiency.

Read the full article at South China Morning Post →
Source document: International Institute for Management Development (IMD)

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South China Morning PostParty-alignedCenter3 days ago
Hong Kong ranks No 2 in global competitiveness with best showing in 7 years

Hong Kong has been ranked as the second-most globally competitive economy according to the International Institute for Management Development (IMD), marking its best performance in seven years. The city climbed one spot from last year, placing behind Singapore but ahead of Switzerland and Taiwan. The report highlights Hong Kong's improvement over three consecutive years and notes the strong performance of Asian economies at the top of the rankings. This result reflects sustained performance across key competitiveness factors including government efficiency, infrastructure, economic performance

Bias read (Center): The article presents factual information about Hong Kong's global competitiveness ranking without overtly biased language or selective emphasis. It reports on an objective assessment by an international organization and provides balanced context about the ranking's historical trends and contributing

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