Report: Hong Kong's ranking in the Global Talent Competitiveness Index has risen to 9th place in 2024, with Switzerland remaining at the top of the ranking for the 11th consecutive year.

The Lausanne International Institute for Management Development (IMD) in Switzerland released the "2024 World Talent Ranking", in which Hong Kong, China ranked 9th in the world's most competitive economies, rising 7 places from last year; Singapore ranked 2nd, rising 6 places from last year; and Switzerland has held the top spot for 11 consecutive years. The report indicates that Switzerland ranks highest in several standards such as quality of life, healthcare infrastructure, university education, statutory minimum wage, and the ability to attract foreign high-tech talents. However, on the other hand, Singapore, which was ranked 18th in 2014, has risen to 2nd place this year, posing a potential challenge to Switzerland's top position in the near future. In this year's ranking, European countries hold 8 of the top 10 spots, with Luxembourg, Sweden, Denmark, Iceland, Norway, the Netherlands, and Austria ranking 3rd to 8th respectively. The ranking compares the investment and development of local talents, attractiveness, and readiness of various economies, which is the availability of skills and capabilities in the talent pool. The United States dropped 6 places to 21st, influenced by the cost of living and personal income tax rates. The US has also dropped in attractiveness from 2nd in 2020 to 14th this year; in terms of language skills or the availability of language skills, it is rated below average and unable to meet the needs of businesses, ranking 47th out of 67 economies worldwide. The report highlights that Singapore's readiness in the talent pool is rated highest among all economies. Singapore is also the least discriminatory country, ranking high in labor force growth, availability of skilled labor, and availability of financial skills.