Hong Kong was ranked the fifth most competitive economy by the International Institute for Management Development in its World Competitiveness Yearbook 2024, up two places from last year.

Among the four competitiveness factors, Hong Kong's rankings in business efficiency and infrastructure rose notably and came within the top 10 globally.

The city’s ranking in government efficiency also stayed high among the top three, while its ranking in economic performance saw significant improvement, reflecting the economic recovery in 2023.

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.

Date: 2024.06.18