2011 World Competitiveness Yearbook

Both HK and the US have been ranked the most competitive countries/regions in the world, followed by last year’s winner Singapore, according to the 2011 World Competitiveness Yearbook published by the International Institute for Management Development. China ranks 19, dropped slightly 1 place. 59 countries/regions were assessed in this year’s World Competiveness Rankings which takes into consideration four main factors: economic performance, government efficiency, business efficiency and infrastructure. HK was outstanding in its investment and trading environment, financial market and taxation systems. However the report also mentioned several problems faced by HK: high living costs, a widening wealth gap and slow development pace in technology and infrastructure.

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