Hong Kong rises in global competitiveness index as UK drops

Hong Kong has jumped three places in the World Economic Forum’s Global Competitiveness Index 2017-2018, rising to sixth in the world.

The Index, published annually, ranks 137 countries based on their prospects for growth. Twelve factors, including infrastructure, labour market efficiency and business sophistication, are considered to compile the rankings.

Hong Kong is the biggest riser among the top ten economies in the Index, which includes Singapore (third) and Japan (ninth).

The UK dropped one place, to eighth.

According to the World Economic Forum, Hong Kong ‘is still endowed with the world’s best physical infrastructure, and its healthy level of competition and openness ensure extremely efficient markets, which in turn are supported by strong and stable financial markets.’

Asia House will be hosting a signature conference in Hong Kong this November – ‘Asia Trade in the New Global Trade Order’.

View the full WEF Global Competitiveness Index 2017-2018.