Hong Kong jumps to ninth spot in global talent ranking but Singapore still top in Asia
City’s ranking leaps from 16th last year after improving in three assessment areas – investment and development, appeal and readiness
Hong Kong has risen seven places to rank ninth in attracting and fostering talent, the highest since 2016, while regional rival Singapore remained the first among Asia-Pacific economies, according to a global study by a Switzerland-based business school.
The International Institute for Management Development’s annual World Talent Ranking, released on Thursday, showed that Hong Kong’s overall ranking rose from 16th last year following improvement in three major assessment areas of the ranking – investment and development, appeal and readiness.
The city was among the world’s top five in the percentages of graduates in sciences and female labour force, finance skills and management education of the workforce, as well as management pay.
But the city’s rankings in various areas were struggling, such as growth in labour force, total public expenditure on education, as well as cost of living.
The cost of living index of Hong Kong ranked last out of 64 economics, a drop of three places from last year.
Singapore placed second among 67 countries overall, rising from last year’s eighth rank, due to its robust performance in readiness of the talent pool. The city state’s availability of skilled labour, finance skills and competent senior managers all ranked the world’s first.
