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International Business Times
International Business Times
Business
Michael Lee

Hong Kong Soars to World's Third Most Competitive Economy in 2025

Hong Kong Economy John Lee
Hong Kong is one of the world’s top three ranked global financial centres (Credit: Hong Kong SAR Government)

Hong Kong has cemented its status as a global economic powerhouse, climbing two spots to rank third in the World Competitiveness Yearbook 2025 (WCY 2025), published by the Swiss-based International Institute for Management Development (IMD) on June 17, 2025. This marks the city's highest ranking since 2019 and its second consecutive year of advancing two places in the global standings, trailing only Singapore and Switzerland among 69 economies assessed.

The IMD's evaluation underscores Hong Kong's broad-based strengths across all four competitiveness factors: government efficiency (2nd), business efficiency (2nd), economic performance (6th), and infrastructure (7th). These gains reflect the city's strategic efforts to attract private sector investment and maintain its edge in a challenging global economic landscape.

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