Hong Kong was ranked fifth by the International Institute for Management Development (IMD) in its World Competitiveness Yearbook 2024, up two places from last year. The findings continued to recognise Hong Kong as one of the most competitive economies in the world.
Among the four competitiveness factors, Hong Kong’s ranking in government efficiency stayed high among the top three. The city's rankings in business efficiency and infrastructure rose notably and came within the top 10 globally. Its ranking in economic performance saw significant improvement, reflecting the economic recovery in 2023.
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As regards the sub-factors, Hong Kong topped the rankings in international trade and business legislation, and was among the global top five in tax policy, international investment, basic infrastructure, finance and education.
Under “one country, two systems”, Hong Kong enjoys the strong support of the motherland while being closely connected to the world, and is the only city that combines Chinese advantages and international advantages. Hong Kong will continue to perform its roles and functions as a super-connector and a super value-adder, and proactively integrate into the overall national development and align with national development strategies.
