Hong Kong Rises to World's No.3 Most Competitive Economy

According to the World Competitiveness Yearbook 2025 by the International Institute for Management Development, Hong Kong is now ranked as the third most competitive economy globally. This marks a notable rise of two places for the second consecutive year, reflecting improvements across various factors such as government efficiency and business efficiency.

Chief Executive John Lee stated that the rankings affirm Hong Kong's business-friendly environment. The region's GDP saw an increase of 3.1% in the first quarter of 2025, with projections indicating continued growth. A record number of both local and non-local companies have registered, further illustrating the city’s economic momentum.

Initiatives such as the new company re-domiciliation regime have attracted firms like AXA Hong Kong and Manulife to consider relocating to Hong Kong. Furthermore, the Office for Attracting Strategic Enterprises has successfully drawn over 80 enterprises, promising significant investments and job creation.

Hong Kong’s stock exchange also stands strong with a 24% rise in market capitalization and is leading globally in IPO funds raised this year. Despite global uncertainties, Hong Kong continues to strengthen its position as a critical financial and trade hub.