Hong Kong has risen to second place globally in the latest World Competitiveness Yearbook (WCY) 2026, published by the International Institute for Management Development (IMD), according to a statement from the Hong Kong Trade Development Council (HKTDC) on June 19. The city’s ranking improved from previous years, driven by top scores in key indicators such as tax policy and business legislation.
The WCY report highlights Hong Kong’s strengths across several categories. It ranks first in “Tax policy” and “Business legislation,” second in “Finance,” and third in “International trade,” “International investment,” “Management practices,” and “Education.” These results underscore the city’s institutional strengths and market efficiency, positioning it as a leading global business environment.
Prof Frederick Ma, Chairman of the HKTDC, commented on the findings: “The WCY 2026 reaffirms Hong Kong’s competitiveness and business advantages. Together with recent international reports showing Hong Kong has become the world’s fifth-largest trading entity, overtaken Switzerland to rank first globally in cross-border wealth management, and remained among the top destinations for IPO fundraising, these developments highlight Hong Kong’s competitive advantages as the ‘Four Centres and One Hub.’ They also demonstrate that Hong Kong is the premier two-way springboard connecting the Chinese Mainland and international markets.”
The HKTDC’s response emphasizes the importance of these rankings for Hong Kong’s economic trajectory. Prof Ma noted that the HKTDC will continue to support the Hong Kong Special Administrative Region government in aligning with the national 15th Five-Year Plan and Hong Kong’s own Five-Year Plan. By leveraging the city’s unique strengths as a superconnector and super value-adder, the HKTDC aims to help Hong Kong integrate into and contribute to the nation’s overall development.
The WCY 2026 results align with other positive indicators for Hong Kong’s economy. The city has been recognized as the fifth-largest trading entity globally and leads in cross-border wealth management, surpassing traditional financial hubs. Its IPO market remains robust, attracting global investors. These achievements collectively reinforce Hong Kong’s status as a dynamic international business center.
For more information, the HKTDC’s media resources are available at https://mediaroom.hktdc.com/en. The HKTDC, celebrating its 60th anniversary this year, is a statutory body established in 1966 to promote and develop Hong Kong’s trade. With over 50 offices globally, including 13 in the Chinese Mainland, the organization organizes international exhibitions, conferences, and business missions to create opportunities for companies, particularly SMEs. It also provides market insights and product information via research reports and digital channels. More details can be found at www.hktdc.com/aboutus.
