Hong Kong climbs to second place in 2026 Global Competitiveness Rankings

Hong Kong has officially climbed to the second spot in the latest global competitiveness rankings, marking its highest position since 2019 and cementing its status as one of the world's premier business hubs.

Published by the International Institute for Management Development (IMD), the 2026 World Competitiveness Yearbook highlights the city's continuous three-year upward trajectory. 

The comprehensive report evaluated various economic indicators, with Hong Kong securing the absolute top global position for its tax policy and business legislation. 

The city also ranked second worldwide in government efficiency and finance, reflecting the international community's trust in its stable, predictable regulations and robust legal environment.

Furthermore, the territory claimed the third position globally in business efficiency, international trade, foreign investment, management practices, and education. 

These high marks showcase a seamless alignment between local business practices and top-tier international standards.

Broader economic milestones

The chairman of the Hong Kong Trade Development Council (HKTDC), Professor Frederick Ma, noted that these latest rankings strongly validate the city's enduring business advantages. 

He pointed out that this milestone aligns with other recent global reports highlighting Hong Kong's economic dominance. 

Notably, the city has recently become the world’s fifth-largest trading entity and has surpassed Switzerland as the leading global hub for cross-border wealth management, while remaining a top destination for initial public offerings.

Future strategic goals

Looking ahead, the HKTDC plans to continue backing the local government to proactively align with the national 15th Five-Year Plan. By leveraging its unique position as a strategic "superconnector," Hong Kong aims to deepen its integration into the broader national development strategy while maintaining its vital role as a two-way springboard connecting the Chinese Mainland with global markets.

𝗗𝗼𝘄𝗻𝗹𝗼𝗮𝗱 𝗧𝗵𝗲 𝗦𝘁𝗮𝗻𝗱𝗮𝗿𝗱 𝗔𝗽𝗽 ↓