IMD World Competitiveness Booklet 2020

COMPETITIVENESS TRENDS - OVERALL HONG KONG SAR

OVERALL PERFORMANCE (63 countries)

BASIC FACTS Capital Land area (square km '000)

Rank

Hong Kong

2016 2017 2018 2019 2020

1 2019

1

1

2

2

7.836 2019 7.51 2019 366.0 2019 64,237 2019

Exchange Rate (per $)

5

45

Population - market size (millions)

CHALLENGES IN 2020 To navigate through the enormous challenges brought by the Covid-19 pandemic and global economic fallout. • To navigate through the enormous challenges brought by the Covid-19 pandemic and global economic fallout. • To harness opportunities arising from the Mainland’s economic development, in particular the Belt and Road Initiative and Greater Bay Area development. • To foster innovation and technology development as drivers for long-term economic growth. • To address supply-side constraints by increasing land supply and investing in human resources. • To overcome the growth constraints posed by an ageing population. Provided by: Hong Kong Trade Development Council Hong Kong Trade Development Council

33

Gross Domestic Product (GDP) (US$ billions)

9

GDP (PPP) per capita (US$)

-1.2 2019 2.87 2019 2.90 2019 3.97 2019 6.21 2019

61

Real GDP growth (%)

47

Consumer price inflation (%)

7

Unemployment rate (%)

44

Labor force (millions)

13

Current account balance (% of GDP)

1,997.2 2018 14.53 2019

2

Direct investment stocks inward ($bn)

4

Direct investment flows inward (% of GDP)

COMPETITIVENESS LANDSCAPE

Economic Performance

Government Efficiency

Business Efficiency

Infrastructure

Domestic Economy

International Trade

International Investment Employment Prices

3 2 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 3 5 2

3 4

6

7

7

11

11

17

23

25

27

49

62

PEER GROUPS RANKINGS ASIA - PACIFIC (14 countries)

POPULATIONS < 20 MILLION (34 countries)

2016 2017 2018 2019 2020

2016 2017 2018 2019 2020

1

1

1

1

1

1

2

2

2

5

73

IMD WORLD COMPETITIVENESS BOOKLET 2020