Hong Kong hailed as world’s most competitive economy

26 August 2016

Hong Kong has been crowned the world’s most competitive economy, unseating the three-year incumbent United States, based the Institute for Management Development (IMD) World Competitiveness Center, a research group of Swiss-based IMD business school.

According to a story from the HKTDC, Professor Arturo Bris, the Centre’s Director, said Hong Kong’s resilience to the Chinese mainland’s slowdown had got it over the line this year. Hong Kong wrested the competitiveness title from the world’s-largest economy while bucking the trend of an overall regional decline.

Despite Hong Kong being the Asian economy most dependent politically on the mainland, “it has been the most resilient to the growth problems and volatility issues in the Chinese mainland this year,” said Professor Bris. “I think that the city’s monetary and fiscal policies, the diversification of the economy, that it is not a manufacturing country and that, in fact, it is a small economy, all play a role in isolating Hong Kong from the crises in Asia.”

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