Hong Kong rises to rank second globally in World Competitiveness Yearbook 2026
In the latest World Competitiveness Yearbook (WCY) 2026 published by the International Institute for Management Development, Hong Kong's global competitiveness has risen for the third consecutive year, up one place to second globally this year, the highest since 2019.
Among the four competitiveness factors in the WCY 2026, Hong Kong ranks second globally in "Government efficiency" and third in "Business efficiency". Hong Kong ranks eighth and 11th globally in "Infrastructure" and "Economic performance" respectively. As regards the various competitiveness sub-factors, Hong Kong tops the rankings in "Tax policy" and "Business legislation"; ranks second globally in "Finance"; third globally in "International trade", "International investment", "Management practices" and "Education"; and fourth globally in "Public finance" and "Basic infrastructure".
A Government spokesperson said today (June 18), "The WCY 2026 reaffirms Hong Kong as one of the most competitive economies in the world, and notes that Hong Kong's rise to second globally sustains the strong upward trajectory from 2024 and 2025. In the competitiveness factor 'Government efficiency' Hong Kong continues to rank second globally, reflecting the Hong Kong Special Administrative Region (HKSAR) Government's ongoing efforts to promote free and open, stable, predictable and business-friendly economic policies, as well as the international community's trust in Hong Kong's legal and regulatory environment. Hong Kong's 'Business efficiency' is ranked third globally, reflecting the strong support for industry development rendered by our robust financial ecosystem, as well as the seamless alignment of the city's business practices and environment with international best standards."
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The spokesperson added, "Amid rapidly evolving geopolitical dynamics, Hong Kong, with its close connectivity to both the Chinese Mainland and the world under the 'one country, two systems' principle, and its sound institutions, open markets and sustained investments in innovation, has become a 'value hub' that offers both security and growth opportunities. In fact, Hong Kong continues to excel in various international rankings including those for economy, finance, and talent. The International Monetary Fund has also given positive recognition to Hong Kong in recent months, and major credit rating agencies have successively reaffirmed Hong Kong's credit ratings and 'stable' outlook. All these echo the WCY 2026 results.
"Currently, Hong Kong is formulating at full speed its first Five-Year Plan to proactively align with the National 15th Five-Year Plan. With the staunch support of our country, the HKSAR Government will work together with all sectors of society to strengthen our role and function as a 'super connector' and 'super value-adder', with a view to better integrating into and serving the overall national development, achieving our own high-quality development, creating more new room for development for our people and businesses, as well as opening up new opportunities for global investors and enterprises."
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Hong Kong Customs detects two incoming passenger drug trafficking cases at airport
Hong Kong Customs yesterday (August 25) detected two drug trafficking cases involving passengers at Hong Kong International Airport and seized about 38 kilograms of suspected ketamine, with a total estimated market value of about 15 million. Three persons were arrested.
In the first case, a 51-year-old local woman and a 26-year-old local man, arrived in Hong Kong from Rome, Italy yesterday. During customs clearance, Customs officers found a batch of suspected ketamine weighing about 36 kg inside their check-in suitcases. The two persons were subsequently arrested.
In the second case, a 40-year-old Mainland male passenger arrived in Hong Kong from Kuala Lumpur, Malaysia yesterday. During customs clearance, Customs officers found about 2 kg of suspected ketamine inside the false compartment of his checked-in suitcase. He was subsequently arrested.
The two arrested persons in the first case have been jointly charged with one count of trafficking in dangerous drug, while the arrested man in the second case has been charged with one count of trafficking in dangerous drug. Both cases will be brought up at the West Kowloon Magistrates' Courts tomorrow (August 27).
Customs will continue to step up enforcement against drug trafficking activities through intelligence analysis. The department also reminds members of the public to stay alert and not to participate in drug trafficking activities for monetary return. They must not accept hiring or delegation from another party to carry controlled items into and out of Hong Kong. They are also reminded not to carry unknown items for other people.
Customs will also continue to apply a risk assessment approach and focus on selecting passengers from high-risk regions for clearance to combat transnational drug trafficking activities.
Under the Dangerous Drugs Ordinance, trafficking in a dangerous drug is a serious offence. The maximum penalty upon conviction is a fine of $5 million and life imprisonment.
Members of the public may report any suspected drug trafficking activities to Customs' 24-hour hotline 182 8080 or its dedicated crime-reporting email account (crimereport@customs.gov.hk) or online form (eform.cefs.gov.hk/form/ced002).
Hong Kong Customs yesterday (August 25) detected two drug trafficking cases involving passengers at Hong Kong International Airport and seized about 38 kilograms of suspected ketamine, with a total estimated market value of about 15 million. Three persons were arrested. Photo shows the arrested person in the second case. Source: HKSAR Government Press Releases
Hong Kong Customs yesterday (August 25) detected two drug trafficking cases involving passengers at Hong Kong International Airport and seized about 38 kilograms of suspected ketamine, with a total estimated market value of about 15 million. Three persons were arrested. Photo shows the suspected ketamine seized in the second case. Source: HKSAR Government Press Releases
Hong Kong Customs yesterday (August 25) detected two drug trafficking cases involving passengers at Hong Kong International Airport and seized about 38 kilograms of suspected ketamine, with a total estimated market value of about 15 million. Three persons were arrested. Photo shows the suspected ketamine seized in the first case. Source: HKSAR Government Press Releases
