Hong Kong has risen to second place in the 2026 World Competitiveness Ranking published by the Swiss-based International Institute for Management Development (IMD), marking its highest position since 2019 and continuing three consecutive years of improvement. The ranking, released on June 18, places Hong Kong behind only Singapore, overtaking Switzerland and other top economies.
A spokesperson for the Hong Kong Special Administrative Region (HKSAR) Government welcomed the result, stating that the World Competitiveness Yearbook (WCY) 2026 reaffirms Hong Kong as one of the most competitive economies globally, sustaining a strong upward trajectory from 2024 and 2025. The IMD noted that amid rising geopolitical tensions, competitive advantage hinges on credible institutions, predictable rules, enforceable commitments, and public trust.
Hong Kong's rise reflects sustained performance across all four competitiveness factors measured. Among these, Hong Kong ranks second in "Government efficiency" and third in "Business efficiency," while placing eighth in "Infrastructure" and 11th in "Economic performance." In sub-factors, Hong Kong tops the rankings in "Tax policy" and "Business legislation," ranks second in "Finance," third in "International trade," "International investment," "Management practices," and "Education," and fourth in "Public finance" and "Basic infrastructure."
The HKSAR spokesperson attributed the high ranking in Government efficiency to ongoing efforts to promote free, open, stable, predictable, and business-friendly economic policies, as well as international trust in Hong Kong's legal and regulatory environment. The third-place ranking in Business efficiency reflects strong support for industry development from the robust financial ecosystem and alignment of business practices with international standards.
Amid rapidly evolving geopolitical dynamics, Hong Kong's close connectivity to both the Chinese Mainland and the world under the "one country, two systems" principle, combined with sound institutions, open markets, and sustained investments in innovation, has positioned it as a "value hub" offering both security and growth opportunities. The city continues to excel in various international rankings for economy, finance, and talent. The International Monetary Fund has given positive recognition to Hong Kong in recent months, and major credit rating agencies have reaffirmed its credit ratings with a 'stable' outlook.
Currently, Hong Kong is formulating its first Five-Year Plan to proactively align with the National 15th Five-Year Plan. The spokesperson emphasized that with the support of the country, the HKSAR Government will work with all sectors to strengthen its role as a "super connector" and "super value-adder," aiming to integrate into and serve national development, achieve high-quality growth, create new development room for people and businesses, and open up opportunities for global investors and enterprises.
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