IMD World Competitiveness Booklet 2023

Competitiveness Country Profiles

Hong Kong SAR Competitiveness Trends – Overall

OVERALL PERFORMANCE (64 countries)

BASIC FACTS

Rank

2019

2020

2021

2022

2023

Capital Land area (square km '000)

Hong Kong

2

1 2022

5

5

7,831 2022

Exchange rate (per $)

7

7

7,35 2022 43 361,0 2022 36 70.616 2022 09 -3,5 2022 64 1,88 2022 02 4,30 2022 24 3,78 2022 42 10,69 2022 11 2.022,2 2021 05 37,19 2021 01

Population - market size (millions)

Gross Domestic Product (GDP) (US$ billions)

CHALLENGES IN 2023

GDP (PPP) per capita (US$)

• Ensure a smooth return of economic activities and exchanges with the outside world to normalcy. • Navigate external headwinds arising from slower global economic growth, tighter financial conditions, and heightened geopolitical tensions. • Actively seize the opportunities brought by the Mainland’s economic development. • Address the constraints of land and manpower supply. • Push forward innovation and the development of technology to add new growth impetus.

Real GDP growth (%)

Consumer price inflation (%)

Unemployment rate (%)

Labor force (millions)

Current account balance (% of GDP)

Direct investment stocks inward ($bn)

Direct investment flows inward (% of GDP)

PROVIDED BY: Hong Kong Trade Development Council

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

6 11 11 5 Management Practices Attitudes & Values

Basic Infrastructure

Technological Infrastructure Scientific Infrastructure

Health & Environment Education

1

3

5 3

8

9

11

12

13

16

24

24

28

45

56

64

PEER GROUPS RANKINGS ASIA - PACIFIC (14 countries)

POPULATIONS < 20 MILLION (37 countries)

2019

2020

2021

2022

2023

2019

2020

2021

2022

2023

2

2

2

2

2

5

5

6

7

3

77