Hong Kong rose to rank seventh globally in digital competitiveness
In the latest World Digital Competitiveness Ranking (WDCR) 2024 published by the International Institute for Management Development (IMD), Hong Kong's ranking improved by three places toseventh globally.
Among the three factors in WDCR 2024, Hong Kong continued to perform well in "Technology" and "Knowledge", ranking third and fifth respectively. Our ranking in "Future readiness" also improved.
A Government spokesman said today (November 14), "The IMD's WDCR 2024 recognised that Hong Kong remains one of the most digitally competitive economies in the world. The National 14th Five-Year Plan indicates clear support for Hong Kong's development into an international innovation and technology (I&T) centre. I&T is a core element in cultivating new quality productive forces and also a key impetus for Hong Kong's high-quality economic development. As home to five of the world’s top 100 universities (three of the top 10 in Asia), Hong Kong possesses world-class research and development (R&D) capabilities and I&T infrastructure, as well as a diverse talent pool. A thriving start-up ecosystem, a free, open and fair business environment, a simple tax system with low tax rates, together with strong policy support also position Hong Kong favourably to attract strategic enterprises and top talent from around the world. The abundant networks and opportunities available in Hong Kong, as well as the synergies with sister cities in the Guangdong-Hong Kong-Macao Greater Bay Area, further enhance our appeal as a leading destination for I&T."
The spokesman added, "The Chief Executive announced in the 2024 Policy Address a series of measures aimed at building a more comprehensive I&T ecosystem in Hong Kong. These initiatives include, for example, establishing the third InnoHK research cluster, drawing up a medium- to long-term plan for the development of new industrialisation, setting up a HK$10 billion I&T Industry-Oriented Fund to channel more market capital to invest in specified emerging and future industries of strategic importance, optimising the Innovation and Technology Venture Fund, and launching the Pilot I&T Accelerator Scheme to attract professional start-up service providers with proven track records to set up accelerator bases in Hong Kong. The Government will continue to enhance the I&T infrastructure, including the first-phase facility of Cyberport's Artificial Intelligence (AI) Supercomputing Centre which will commence operation shortly, and the $3 billion AI Subsidy Scheme now open for applications. Going forward, the HKSAR Government will continue to collaborate with various sectors of the society to further enhance Hong Kong's I&T ecosystem, thereby upholding our competitive edge in the global market and injecting new impetus to economic development."
