Hong Kong remains most international city in Asia, widening lead over Singapore

Hong Kong has solidified its position as Asia's most international city, according to the Hong Kong General Chamber of Commerce's annual index. The city outscored Singapore by two points, with a score of 74.6 compared to Singapore's 72.6, reflecting its strength in seven key areas. Hong Kong excelled in business and economy, quality of life, infrastructure and connectivity, human capital diversity, innovation and ideas, government and legal systems for business, and cultural interaction, ranking third in the latter.

However, the city lags behind in technology investment, a concern as private investment for tech innovation is not as readily available as in other cities like Shanghai. Shanghai aims to create 100 unicorns by 2027 and has introduced policies to accelerate progress, serving as an inspiration for Hong Kong to further boost its momentum.

Hong Kong's cultural appeal and diversity, through various activities and mega-events, can be enhanced to boost its competitiveness, according to the report. Singapore retained second place, while Seoul rose to third, followed by Tokyo, Shanghai, Bangkok, and Kuala Lumpur. The study, conducted by Ipsos, involved 1,111 executives across the 11 cities, with a mix of local residents and foreign residents who had lived and worked in the cities for at least two years.

The findings underscore the growing economic significance of Asia, with its economies projected to contribute to around 60% of global GDP growth.