Hong Kong cracks top 10 for global competitiveness

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In 2020, the top-ranking positions in the Global Talent Competitiveness Index (GTCI) continue to be held by high-income countries.

The GTCI is an input-output model that considers what countries do to produce and acquire talent (input) and the kind of skills that are available to them as a result (output).

The input side concerns how countries enable, attract, grow and retain talent, while output involves vocational and technical (VT) skills and global knowledge (GK) skills.

The index reflects a high correlation between GDP per capita and GTCI scores.

European countries continue to dominate, holding 17 of the top 25 positions. Switzerland maintains the top spot ahead of the United States which was 2nd – the country’s highest ranking in the GTCI so far.

Not far behind was Singapore (3rd) followed by Northern European countries such as Sweden (4th), Denmark (5th), Netherlands (6th) and Finland (7th).

At the other end of the scale, Yemen came in 132nd below other African countries Angola, the Democratic Republic of Congo and Burundi.

This year’s top-ranked city is New York, ahead of London in 2nd place and Singapore in 3rd . Of the remaining cities in the top 10, three are from the US - San Francisco (4th), Boston (5th) and Los Angeles (9th); two are from Europe: Paris, (7th) and Munich (10th); and two are from Eastern Asia: Hong Kong (6th) and Tokyo (8th).

In the top quartile, all cities but two are located in high income countries. The ranking also clearly shows that that cities that do well in the GTCI tend to be in wealthy countries.

2020 Top 10 countries1. Switzerland2. United States3. Singapore4. Sweden5. Denmark6. Netherlands7. Finland8. Luxembourg9. Norway10. Australia

2020 Top 10 cities1. New York2. London3. Singapore4. San Francisco5. Boston6. Hong Kong7.Paris8. Tokyo9. Los Angeles10. Munich