InnoHK Drives Hong Kong's Rise to No 7 in the World Digital Competitiveness Ranking

InnoHK Boosts Hong Kong's Digital Competitiveness

Hong Kong authorities have hailed the city as one of the most digitally competitive places globally after its ranking improved to seventh in the latest World Digital Competitiveness Ranking by the International Institute for Management Development (IMD). The city rose three places from last year, driven by strong performances in the technology and knowledge categories.

Key Highlights of the Ranking

• Hong Kong's ranking reflects significant gains in employee training and utilization of big data.
• Improvements in education and ease of business processes further contributed to progress.
• Challenges remain in IT integration and cybersecurity.

Comparative Performance

According to the report, Singapore, Switzerland, and Denmark occupied the top three positions. Singapore excels in city management, high-tech patent grants, and banking services, further solidifying its leadership in digital competitiveness.

Government Initiatives

Chief Executive John Lee Ka-chiu emphasized that technology is crucial for cultivating effective productive forces, highlighting the importance of a strong startup ecosystem and simple tax system in attracting global talent. Upcoming initiatives include the InnoHK research cluster and expanded funding to support technology-focused startups.

With an array of top universities and research facilities, Hong Kong is poised to enhance its competitive market edge and drive economic growth.