In the 2023 IMD World Competitiveness Yearbook, Denmark maintained its top position among 64 economies, emphasizing economic performance, government efficiency, business efficiency, and infrastructure.
The top three nations excelling in market access are small economies. Despite the ranking of Hong Kong dropping due to the severe impact of the COVID-19 pandemic, it still excels in international trade and investment, tax policy and education. .
To improve, Hong Kong must enhance digital tools and technologies, customer satisfaction and public finance, but also speed up the collaboration with Greater Bay Area cities and alignment with the Belt and Road Initiatives. With its holistic international financial status and significant investment flows, this strategic approach can reinforce its competitiveness and economic potential.