Hong Kong, Taiwan Climb in Global Competitiveness Ranks

Hong Kong has climbed to third place in the 2025 IMD World Competitiveness Ranking, its highest since 2019, trailing only Switzerland and Singapore. Chief Executive John Lee credited the rise to enhanced government efficiency, civil service reforms, and top rankings in tax policies and government efficiency. Taiwan also moved up to sixth place, maintaining its status as the most competitive large-population economy for the fifth year, driven by strong economic performance and business efficiency. In addition, six Hong Kong universities improved their positions in the QS World University Rankings, with HKU now 11th globally and second in Asia. Despite these achievements, Hong Kong continues to face challenges in sectors such as retail and food and beverage, leading to further government support for small and medium-sized businesses. Both the IMD and QS results highlight the positive impact of recent government and educational strategies on Hong Kong's global standing.