Story perspectives

Hong Kong Surges to No. 2 in IMD World Ranking

6/19/2026

Summary

Story summary

Hong Kong rose to second place in the IMD World Competitiveness Ranking, its best in seven years.
The International Institute for Management Development placed Singapore first and Switzerland third among 70 economies in its 2026 ranking.
IMD data linked Switzerland’s drop to high U.S. tariffs, a strong franc, and a $60.7 billion negative foreign-direct-investment flow, while Swiss official Ivo Germann said the country still scores highly in government efficiency and infrastructure.

History

Historical Context

On 2 July 1997 Thailand’s baht collapse sparked the Asian financial crisis, pulling down Hong Kong’s economy and prompting IMF bailouts while Singapore’s growth persisted. The shock cut Malaysia’s GDP from $100.8 billion in 1996 to $72.2 billion in 1998, reshaping regional competitiveness. Today the IMD ranking lists Hong Kong second behind Singapore, reflecting the crisis-era shift toward services and digital innovation.

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Story summary

Hong Kong rose to second place in the IMD World Competitiveness Ranking, its best in seven years.
The International Institute for Management Development placed Singapore first and Switzerland third among 70 economies in its 2026 ranking.
IMD data linked Switzerland’s drop to high U.S. tariffs, a strong franc, and a $60.7 billion negative foreign-direct-investment flow, while Swiss official Ivo Germann said the country still scores highly in government efficiency and infrastructure.

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