IMD World Competitiveness Booklet 2021

COMPETITIVENESS TRENDS - OVERALL HONG KONG SAR

OVERALL PERFORMANCE (64 countries)

BASIC FACTS Capital Land area (square km '000)

Rank

Hong Kong

2017 2018 2019 2020 2021

1 2020

1

2

2

7.757 2020 7.48 2020 349.4 2020 59,458 2020

5

Exchange Rate (per $)

7

45

Population - market size (millions)

CHALLENGES IN 2021 To revive the economy as the COVID-19 pandemic recedes. To navigate through an international environment marked by • To revive the economy as the COVID-19 pandemic recedes. • To navigate through an international environment marked by resurgence of unilateralism and protectionism, and increasing macroeconomic vulnerability. • To tap growth opportunities arising from the Mainland’s new development strategy of “dual circulation”, in particular the Belt and Road Initiative and Greater Bay Area development. • To foster innovation and technology development as key driver for long-term economic growth. • To address development constraints of inadequate land supply and an ageing population. Provided by: Hong Kong Trade Development Council Hong Kong Trade Development Council

34

Gross Domestic Product (GDP) (US$ billions)

9

GDP (PPP) per capita (US$)

-6.1 2020 0.33 2020 5.80 2020 3.89 2020 6.61 2020

43

Real GDP growth (%)

21

Consumer price inflation (%)

28

Unemployment rate (%)

44

Labor force (millions)

9

Current account balance (% of GDP)

1,867.9 2019 15.94 2019

3

Direct investment stocks inward ($bn)

5

Direct investment flows inward (% of GDP)

COMPETITIVENESS LANDSCAPE

Economic Performance

Government Efficiency

Business Efficiency

Infrastructure

Domestic Economy

International Trade

International Investment Employment Prices

Public Finance

Tax Policy

Institutional Framework Business Legislation

Societal Framework

Productivity & Efficiency Labor Market Finance

Management Practices

Attitudes and Values

Basic Infrastructure

Technological Infrastructure Scientific Infrastructure

Health and Environment Education

1

2

2

3 2

7

8 7 7

8

9

9 8

11

21

23

32

34

40

63

PEER GROUPS RANKINGS ASIA - PACIFIC (14 countries)

POPULATIONS < 20 MILLION (35 countries)

2017 2018 2019 2020 2021

2017 2018 2019 2020 2021

1

1

2

1

1

5

2

2

2

7

72

IMD WORLD COMPETITIVENESS BOOKLET 2021