, Hong Kong
Photo by Jimmy Chan via Pexels

HK lands 5th in world competitiveness ranking

The city’s economic performance, business efficiency, and infrastructure improved. 

Hong Kong climbed two spots in the latest World Competitiveness Ranking by the International Institute for Management Development (IMD), ranking fifth in the 2024 list.

IMD ranks 67 markets based on four major factors: economic performance, government efficiency, business efficiency, and infrastructure.

Hong Kong’s economic performance showed the most significant improvement from 36th in 2023 to 11th in 2024, with a score of 60.2.

The domestic economy and employment indicators made the biggest leaps in 2024.

Business efficiency and infrastructure also improved, scoring 79.5 and 72.7 and landing seventh and ninth, respectively.

Business efficiency indicators generally improved, except for attitude and values, which fell.

IMD observed the same trend in infrastructure, except for the technological infrastructure indicator.

Whilst still in the top five, government efficiency in Hong Kong fell to third in 2024, with a score of 85.2. Only tax policy increased among the indicators analysed. 

Hong Kong ranked second in Asia Pacific behind Singapore.

Hong Kong was also recently named the world's most expensive city, driven by high housing, transportation, and goods costs.

Follow the link for more news on

Join Hong Kong Business community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Top News

Cathay inks largest SAF deal with DB Schenker
The SAF will enable DB Schenker to save over 2,600 tonnes in CO2 emissions.
ZA Bank unveils payroll service with limited-time coupon
With the coupon, users can earn HK$1,775 in interest for a 90-day period.
CUHK identifies gut microbiome markers for autism spectrum disorder
Researchers discovered alterations in gut microbes across archaea, bacteria, fungi, and viruses.
Healthcare
CKI mulls secondary listing on London Stock Exchange
The potential additional listing could expand the market for the company's shares.