Insight Report
Klaus Schwab, World Economic Forum
The Global
Competitiveness Report
2013–2014
The Global Competitiveness Report 2013–2014 | 15
1.1: The Global Competitiveness Index 2013–2014
GCI 2013–2014
Country/Eco...
1.1: The Global Competitiveness Index 2013–2014
16 | The Global Competitiveness Report 2013–2014
SUBINDEXES
OVERALL INDEX ...
Percent of responses
GDP (PPP) per capita (int’l $), 1990–2012
Rank Score
(out of 148) (1–7)
Note: From the list of factor...
Notes: Values are on a 1-to-7 scale unless otherwise annotated with an asterisk (*). For further details and explanation, ...
Rank Score
(out of 148) (1–7)
GDP (PPP) per capita (int’l $), 1990–2012
Percent of responses
Note: From the list of factor...
Notes: Values are on a 1-to-7 scale unless otherwise annotated with an asterisk (*). For further details and explanation, ...
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2013-2014 Hong Kong Profile - WEF Global Competitiveness Report

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  1. 1. Insight Report Klaus Schwab, World Economic Forum The Global Competitiveness Report 2013–2014
  2. 2. The Global Competitiveness Report 2013–2014 | 15 1.1: The Global Competitiveness Index 2013–2014 GCI 2013–2014 Country/Economy Rank (out of 148) Score (1–7) Rank among 2012–2013 economies* GCI 2012–2013 Switzerland 1 5.67 1 1 Singapore 2 5.61 2 2 Finland 3 5.54 3 3 Germany 4 5.51 4 6 United States 5 5.48 5 7 Sweden 6 5.48 6 4 Hong Kong SAR 7 5.47 7 9 Netherlands 8 5.42 8 5 Japan 9 5.40 9 10 United Kingdom 10 5.37 10 8 Norway 11 5.33 11 15 Taiwan, China 12 5.29 12 13 Qatar 13 5.24 13 11 Canada 14 5.20 14 14 Denmark 15 5.18 15 12 Austria 16 5.15 16 16 Belgium 17 5.13 17 17 New Zealand 18 5.11 18 23 United Arab Emirates 19 5.11 19 24 Saudi Arabia 20 5.10 20 18 Australia 21 5.09 21 20 Luxembourg 22 5.09 22 22 France 23 5.05 23 21 Malaysia 24 5.03 24 25 Korea, Rep. 25 5.01 25 19 Brunei Darussalam 26 4.95 26 28 Israel 27 4.94 27 26 Ireland 28 4.92 28 27 China 29 4.84 29 29 Puerto Rico 30 4.67 30 31 Iceland 31 4.66 31 30 Estonia 32 4.65 32 34 Oman 33 4.64 33 32 Chile 34 4.61 34 33 Spain 35 4.57 35 36 Kuwait 36 4.56 36 37 Thailand 37 4.54 37 38 Indonesia 38 4.53 38 50 Azerbaijan 39 4.51 39 46 Panama 40 4.50 40 40 Malta 41 4.50 41 47 Poland 42 4.46 42 41 Bahrain 43 4.45 43 35 Turkey 44 4.45 44 43 Mauritius 45 4.45 45 54 Czech Republic 46 4.43 46 39 Barbados 47 4.42 47 44 Lithuania 48 4.41 48 45 Italy 49 4.41 49 42 Kazakhstan 50 4.41 50 51 Portugal 51 4.40 51 49 Latvia 52 4.40 52 55 South Africa 53 4.37 53 52 Costa Rica 54 4.35 54 57 Mexico 55 4.34 55 53 Brazil 56 4.33 56 48 Bulgaria 57 4.31 57 62 Cyprus 58 4.30 58 58 Philippines 59 4.29 59 65 India 60 4.28 60 59 Peru 61 4.25 61 61 Slovenia 62 4.25 62 56 Hungary 63 4.25 63 60 Russian Federation 64 4.25 64 67 Sri Lanka 65 4.22 65 68 Rwanda 66 4.21 66 63 Montenegro 67 4.20 67 72 Jordan 68 4.20 68 64 Colombia 69 4.19 69 69 Vietnam 70 4.18 70 75 Ecuador 71 4.18 71 86 Georgia 72 4.15 72 77 Macedonia, FYR 73 4.14 73 80 Botswana 74 4.13 74 79 Table 3: The Global Competitiveness Index 2013–2014 rankings and 2012–2013 comparisons GCI 2013–2014 Country/Economy Rank (out of 148) Score (1–7) Rank among 2012–2013 economies* GCI 2012–2013 Croatia 75 4.13 75 81 Romania 76 4.13 76 78 Morocco 77 4.11 77 70 Slovak Republic 78 4.10 78 71 Armenia 79 4.10 79 82 Seychelles 80 4.10 80 76 Lao PDR 81 4.08 n/a n/a Iran, Islamic Rep. 82 4.07 81 66 Tunisia 83 4.06 n/a n/a Ukraine 84 4.05 82 73 Uruguay 85 4.05 83 74 Guatemala 86 4.04 84 83 Bosnia and Herzegovina 87 4.02 85 88 Cambodia 88 4.01 86 85 Moldova 89 3.94 87 87 Namibia 90 3.93 88 92 Greece 91 3.93 89 96 Trinidad and Tobago 92 3.91 90 84 Zambia 93 3.86 91 102 Jamaica 94 3.86 92 97 Albania 95 3.85 93 89 Kenya 96 3.85 94 106 El Salvador 97 3.84 95 101 Bolivia 98 3.84 96 104 Nicaragua 99 3.84 97 108 Algeria 100 3.79 98 110 Serbia 101 3.77 99 95 Guyana 102 3.77 100 109 Lebanon 103 3.77 101 91 Argentina 104 3.76 102 94 Dominican Republic 105 3.76 103 105 Suriname 106 3.75 104 114 Mongolia 107 3.75 105 93 Libya 108 3.73 106 113 Bhutan 109 3.73 n/a n/a Bangladesh 110 3.71 107 118 Honduras 111 3.70 108 90 Gabon 112 3.70 109 99 Senegal 113 3.70 110 117 Ghana 114 3.69 111 103 Cameroon 115 3.68 112 112 Gambia, The 116 3.67 113 98 Nepal 117 3.66 114 125 Egypt 118 3.63 115 107 Paraguay 119 3.61 116 116 Nigeria 120 3.57 117 115 Kyrgyz Republic 121 3.57 118 127 Cape Verde 122 3.53 119 122 Lesotho 123 3.52 120 137 Swaziland 124 3.52 121 135 Tanzania 125 3.50 122 120 Côte d’Ivoire 126 3.50 123 131 Ethiopia 127 3.50 124 121 Liberia 128 3.45 125 111 Uganda 129 3.45 126 123 Benin 130 3.45 127 119 Zimbabwe 131 3.44 128 132 Madagascar 132 3.42 129 130 Pakistan 133 3.41 130 124 Venezuela 134 3.35 131 126 Mali 135 3.33 132 128 Malawi 136 3.32 133 129 Mozambique 137 3.30 134 138 Timor-Leste 138 3.25 135 136 Myanmar 139 3.23 n/a n/a Burkina Faso 140 3.21 136 133 Mauritania 141 3.19 137 134 Angola 142 3.15 n/a n/a Haiti 143 3.11 138 142 Sierra Leone 144 3.01 139 143 Yemen 145 2.98 140 140 Burundi 146 2.92 141 144 Guinea 147 2.91 142 141 Chad 148 2.85 143 139 * This column shows the rank of each economy based on last year’s sample of 144 economies. ‹ :RUOG (FRQRPLF )RUXP Hong Kong SAR 7 5.47 7 9 China 29 4.84 29 29
  3. 3. 1.1: The Global Competitiveness Index 2013–2014 16 | The Global Competitiveness Report 2013–2014 SUBINDEXES OVERALL INDEX Basic requirements Efficiency enhancers Innovation and sophistication factors Country/Economy Rank Score Rank Score Rank Score Rank Score Switzerland 1 5.67 3 6.15 5 5.44 1 5.72 Singapore 2 5.61 1 6.30 2 5.63 13 5.14 Finland 3 5.54 7 5.97 9 5.30 2 5.65 Germany 4 5.51 9 5.90 8 5.31 4 5.59 United States 5 5.48 36 5.12 1 5.66 6 5.43 Sweden 6 5.48 8 5.95 7 5.31 5 5.46 Hong Kong SAR 7 5.47 2 6.15 3 5.57 19 4.83 Netherlands 8 5.42 10 5.89 11 5.27 7 5.36 Japan 9 5.40 28 5.37 10 5.27 3 5.62 United Kingdom 10 5.37 24 5.48 4 5.45 10 5.15 Norway 11 5.33 6 5.98 12 5.22 16 5.07 Taiwan, China 12 5.29 16 5.70 15 5.16 9 5.22 Qatar 13 5.24 5 6.01 18 5.02 14 5.08 Canada 14 5.20 15 5.71 6 5.33 25 4.64 Denmark 15 5.18 21 5.55 16 5.05 11 5.14 Austria 16 5.15 19 5.63 21 4.97 12 5.14 Belgium 17 5.13 22 5.51 17 5.03 15 5.07 New Zealand 18 5.11 12 5.78 14 5.17 27 4.55 United Arab Emirates 19 5.11 4 6.04 20 5.00 24 4.67 Saudi Arabia 20 5.10 14 5.73 27 4.69 29 4.33 Australia 21 5.09 17 5.69 13 5.18 26 4.56 Luxembourg 22 5.09 11 5.87 22 4.92 17 4.84 France 23 5.05 23 5.50 19 5.00 18 4.84 Malaysia 24 5.03 27 5.37 25 4.86 23 4.70 Korea, Rep. 25 5.01 20 5.60 23 4.89 20 4.82 Brunei Darussalam 26 4.95 18 5.64 65 4.09 54 3.81 Israel 27 4.94 39 5.05 26 4.73 8 5.23 Ireland 28 4.92 33 5.18 24 4.89 21 4.81 China 29 4.84 31 5.28 31 4.63 34 4.10 Puerto Rico 30 4.67 54 4.82 33 4.58 22 4.71 Iceland 31 4.66 29 5.29 35 4.53 28 4.48 Estonia 32 4.65 26 5.43 30 4.64 35 4.08 Oman 33 4.64 13 5.77 39 4.45 39 4.05 Chile 34 4.61 30 5.28 29 4.64 45 3.92 Spain 35 4.57 38 5.05 28 4.64 32 4.14 Kuwait 36 4.56 32 5.22 77 3.95 101 3.34 Thailand 37 4.54 49 4.86 40 4.43 52 3.83 Indonesia 38 4.53 45 4.90 52 4.32 33 4.13 Azerbaijan 39 4.51 44 4.90 66 4.09 60 3.71 Panama 40 4.50 46 4.89 50 4.33 43 3.99 Malta 41 4.50 34 5.17 36 4.52 40 4.03 Poland 42 4.46 59 4.72 32 4.60 65 3.65 Bahrain 43 4.45 25 5.46 38 4.50 59 3.71 Turkey 44 4.45 56 4.75 45 4.38 47 3.91 Mauritius 45 4.45 42 4.97 61 4.18 57 3.76 Czech Republic 46 4.43 55 4.80 37 4.51 36 4.07 Barbados 47 4.42 35 5.14 43 4.39 48 3.91 Lithuania 48 4.41 43 4.91 47 4.35 44 3.93 Italy 49 4.41 50 4.85 48 4.34 30 4.22 Kazakhstan 50 4.41 48 4.86 53 4.30 87 3.41 Portugal 51 4.40 41 4.98 46 4.38 38 4.06 Latvia 52 4.40 40 5.00 41 4.41 68 3.61 South Africa 53 4.37 95 4.24 34 4.54 37 4.06 Costa Rica 54 4.35 64 4.62 59 4.18 31 4.14 Mexico 55 4.34 63 4.63 55 4.27 55 3.79 Brazil 56 4.33 79 4.45 44 4.39 46 3.92 Bulgaria 57 4.31 58 4.73 60 4.18 108 3.28 Cyprus 58 4.30 51 4.84 49 4.34 50 3.87 Philippines 59 4.29 78 4.46 58 4.20 58 3.75 India 60 4.28 96 4.23 42 4.41 41 4.00 Peru 61 4.25 72 4.53 57 4.20 97 3.35 Slovenia 62 4.25 37 5.06 62 4.14 49 3.88 Hungary 63 4.25 65 4.61 54 4.28 71 3.60 Russian Federation 64 4.25 47 4.88 51 4.32 99 3.35 Sri Lanka 65 4.22 77 4.48 69 4.03 42 4.00 Rwanda 66 4.21 71 4.55 96 3.73 66 3.65 Montenegro 67 4.20 68 4.59 72 4.01 70 3.61 Jordan 68 4.20 76 4.51 70 4.01 51 3.87 Colombia 69 4.19 80 4.44 64 4.11 69 3.61 Vietnam 70 4.18 86 4.36 74 3.98 85 3.41 Ecuador 71 4.18 62 4.64 81 3.90 63 3.69 Georgia 72 4.15 57 4.74 86 3.89 122 3.08 Macedonia, FYR 73 4.14 70 4.55 76 3.96 94 3.37 Botswana 74 4.13 66 4.60 93 3.77 106 3.30 Table 4: The Global Competitiveness Index 2013–2014 (Cont’d.) ‹ :RUOG (FRQRPLF )RUXP Hong Kong SAR 7 5.47 2 6.15 3 5.57 19 4.83 China 29 4.84 31 5.28 31 4.63 34 4.10
  4. 4. Percent of responses GDP (PPP) per capita (int’l $), 1990–2012 Rank Score (out of 148) (1–7) Note: From the list of factors above, respondents were asked to select the five most problematic for doing business in their country and to rank them between 1 (most problematic) and 5. The bars in the figure show the responses weighted according to their rankings. 2.1: Country/Economy Profiles 156 | The Global Competitiveness Report 2013–2014 Key indicators, 2012 Population (millions)................................... 1,344.1 GDP (US$ billions) ..................................... 8,227.0 GDP per capita (US$)................................... 6,076 GDP (PPP) as share (%) of world total.......... 14.92 Global Competitiveness Index GCI 2013–2014......................................................29..... 4.8 GCI 2012–2013 (out of 144)..................................... 29......4.8 GCI 2011–2012 (out of 142)..................................... 26......4.9 Basic requirements (40.0%).......................................31 ......5.3 Institutions................................................................ 47......4.2 Infrastructure ............................................................ 48......4.5 Macroeconomic environment ................................... 10......6.3 Health and primary education................................... 40......6.1 Efficiency enhancers (50.0%).....................................31 ......4.6 Higher education and training................................... 70......4.2 Goods market efficiency .......................................... 61......4.3 Labor market efficiency ............................................ 34......4.6 Financial market development .................................. 54......4.3 Technological readiness............................................ 85......3.4 Market size................................................................. 2......6.9 Innovation and sophistication factors (10.0%)...........34 ......4.1 Business sophistication ........................................... 45......4.3 Innovation................................................................. 32......3.9 The most problematic factors for doing business Access to financing ...........................................................11.4 Inefficient government bureaucracy ...................................10.2 Corruption .........................................................................10.1 Tax rates..............................................................................7.8 Insufficient capacity to innovate...........................................7.6 Inadequate supply of infrastructure......................................7.1 Inflation................................................................................7.0 Inadequately educated workforce........................................6.3 Tax regulations ....................................................................6.3 Policy instability ...................................................................6.2 Poor work ethic in national labor force ................................4.5 Foreign currency regulations................................................3.9 Government instability/coups ..............................................3.5 Restrictive labor regulations.................................................3.5 Crime and theft ...................................................................2.8 Poor public health ...............................................................1.9 China Factor driven Efficiency driven Innovation driven 1 Transition 1–2 2 Transition 2–3 3 Stage of development China Efficiency-driven economies 0 5 10 15 20 25 30 0 2,000 4,000 6,000 8,000 10,000 1990 1992 19961994 1998 2000 2002 20062004 20102008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market development Technological readiness Market size Business sophistication Innovation 1 2 3 4 5 6 7 China Developing Asia ‹ :RUOG (FRQRPLF )RUXP Innovation Business sophistication Market size
  5. 5. Notes: Values are on a 1-to-7 scale unless otherwise annotated with an asterisk (*). For further details and explanation, please refer to the section “How to Read the Country/Economy Profiles” on page 97. The Global Competitiveness Index in detail The Global Competitiveness Report 2013–2014 | 157 2.1: Country/Economy Profiles INDICATOR VALUE RANK/148 6th pillar: Goods market efficiency (cont’d.) 6.06 No. procedures to start a business*........................ 13..........135 6.07 No. days to start a business* .................................. 33..........112 6.08 Agricultural policy costs.......................................... 4.6............14 6.09 Prevalence of trade barriers ................................... 4.3............76 6.10 Trade tariffs, % duty*............................................ 11.0..........123 6.11 Prevalence of foreign ownership............................. 4.4............91 6.12 Business impact of rules on FDI............................. 4.8............45 6.13 Burden of customs procedures.............................. 4.2............60 6.14 Imports as a percentage of GDP* ........................ 25.5..........135 6.15 Degree of customer orientation.............................. 4.5............76 6.16 Buyer sophistication............................................... 4.4............16 7th pillar: Labor market efficiency 7.01 Cooperation in labor-employer relations ................. 4.4............60 7.02 Flexibility of wage determination............................. 4.8............94 7.03 Hiring and firing practices....................................... 4.4............28 7.04 Redundancy costs, weeks of salary*.................... 27.4..........120 7.05 Effect of taxation on incentives to work.................. 4.0............42 7.06 Pay and productivity............................................... 4.7............17 7.07 Reliance on professional management................... 4.6............44 7.08 Country capacity to retain talent............................. 4.3............31 7.09 Country capacity to attract talent ........................... 4.4............26 7.10 Women in labor force, ratio to men*..................... 0.88............36 8th pillar: Financial market development 8.01 Availability of financial services ............................... 4.5............70 8.02 Affordability of financial services ............................. 4.4............51 8.03 Financing through local equity market.................... 4.0............38 8.04 Ease of access to loans ......................................... 3.4............32 8.05 Venture capital availability....................................... 3.8............16 8.06 Soundness of banks .............................................. 5.0............72 8.07 Regulation of securities exchanges ........................ 4.3............63 8.08 Legal rights index, 0–10 (best)* ................................. 6............65 9th pillar: Technological readiness 9.01 Availability of latest technologies ............................ 4.4..........105 9.02 Firm-level technology absorption............................ 4.7............71 9.03 FDI and technology transfer ................................... 4.5............78 9.04 Individuals using Internet, %* ............................... 42.3............78 9.05 Fixed broadband Internet subscriptions/100 pop.* . 13.0............49 9.06 Int’l Internet bandwidth, kb/s per user* .................. 4.2..........118 9.07 Mobile broadband subscriptions/100 pop.*.......... 17.2............71 10th pillar: Market size 10.01 Domestic market size index, 1–7 (best)*................. 6.8..............2 10.02 Foreign market size index, 1–7 (best)*.................... 7.0..............1 10.03 GDP (PPP$ billions)* ..................................... 12,405.7..............2 10.04 Exports as a percentage of GDP* ........................ 27.2..........111 11th pillar: Business sophistication 11.01 Local supplier quantity ........................................... 5.0............31 11.02 Local supplier quality.............................................. 4.5............69 11.03 State of cluster development.................................. 4.6............24 11.04 Nature of competitive advantage............................ 3.8............53 11.05 Value chain breadth................................................ 4.1............43 11.06 Control of international distribution......................... 4.3............48 11.07 Production process sophistication.......................... 4.0............58 11.08 Extent of marketing................................................ 4.4............50 11.09 Willingness to delegate authority............................ 3.9............60 12th pillar: Innovation 12.01 Capacity for innovation........................................... 4.2............30 12.02 Quality of scientific research institutions ................. 4.3............41 12.03 Company spending on RD................................... 4.2............22 12.04 University-industry collaboration in RD ................. 4.4............33 12.05 Gov’t procurement of advanced tech products...... 4.4............13 12.06 Availability of scientists and engineers.................... 4.5............44 12.07 PCT patents, applications/million pop.*.................. 9.2............36 INDICATOR VALUE RANK/148 1st pillar: Institutions 1.01 Property rights ....................................................... 4.6............50 1.02 Intellectual property protection ............................... 3.9............53 1.03 Diversion of public funds........................................ 3.9............44 1.04 Public trust in politicians......................................... 4.1............26 1.05 Irregular payments and bribes................................ 4.0............68 1.06 Judicial independence............................................ 4.0............57 1.07 Favoritism in decisions of government officials ....... 4.0............29 1.08 Wastefulness of government spending................... 3.9............29 1.09 Burden of government regulation ........................... 4.3............14 1.10 Efficiency of legal framework in settling disputes.... 4.2............43 1.11 Efficiency of legal framework in challenging regs. ... 3.8............47 1.12 Transparency of government policymaking............. 4.4............46 1.13 Business costs of terrorism.................................... 5.0............98 1.14 Business costs of crime and violence..................... 4.8............62 1.15 Organized crime..................................................... 4.7............88 1.16 Reliability of police services.................................... 4.4............59 1.17 Ethical behavior of firms ......................................... 4.2............54 1.18 Strength of auditing and reporting standards ......... 4.5............80 1.19 Efficacy of corporate boards .................................. 4.4............84 1.20 Protection of minority shareholders’ interests ......... 4.1............75 1.21 Strength of investor protection, 0–10 (best)* .......... 5.0............84 2nd pillar: Infrastructure 2.01 Quality of overall infrastructure ............................... 4.3............74 2.02 Quality of roads...................................................... 4.5............54 2.03 Quality of railroad infrastructure.............................. 4.7............20 2.04 Quality of port infrastructure................................... 4.5............59 2.05 Quality of air transport infrastructure....................... 4.5............65 2.06 Available airline seat km/week, millions* ........ 12,672.0..............2 2.07 Quality of electricity supply..................................... 5.1............67 2.08 Mobile telephone subscriptions/100 pop.* ........... 81.3..........116 2.09 Fixed telephone lines/100 pop.*........................... 20.6............58 3rd pillar: Macroeconomic environment 3.01 Government budget balance, % GDP*..................-2.2............61 3.02 Gross national savings, % GDP* .......................... 49.5..............6 3.03 Inflation, annual % change*.................................... 2.7..............1 3.04 General government debt, % GDP* ..................... 22.8............28 3.05 Country credit rating, 0–100 (best)*...................... 78.9............23 4th pillar: Health and primary education 4.01 Business impact of malaria .................................... 5.3............97 4.02 Malaria cases/100,000 pop.* ................................. 0.9............82 4.03 Business impact of tuberculosis............................. 5.1............92 4.04 Tuberculosis cases/100,000 pop.* ....................... 75.0............87 4.05 Business impact of HIV/AIDS................................. 5.1............85 4.06 HIV prevalence, % adult pop.* ............................. 0.10............11 4.07 Infant mortality, deaths/1,000 live births*.............. 12.6............65 4.08 Life expectancy, years*......................................... 73.5............75 4.09 Quality of primary education................................... 4.3............56 4.10 Primary education enrollment, net %* .................. 99.8..............4 5th pillar: Higher education and training 5.01 Secondary education enrollment, gross %*.......... 81.4............90 5.02 Tertiary education enrollment, gross %*................ 26.8............83 5.03 Quality of the educational system........................... 4.0............54 5.04 Quality of math and science education .................. 4.4............48 5.05 Quality of management schools ............................. 4.1............83 5.06 Internet access in schools...................................... 5.3............35 5.07 Availability of research and training services ........... 4.4............62 5.08 Extent of staff training ............................................ 4.3............48 6th pillar: Goods market efficiency 6.01 Intensity of local competition.................................. 5.3............46 6.02 Extent of market dominance .................................. 4.6............23 6.03 Effectiveness of anti-monopoly policy..................... 4.3............55 6.04 Effect of taxation on incentives to invest................. 4.1............41 6.05 Total tax rate, % profits*....................................... 63.7..........131 China ‹ :RUOG (FRQRPLF )RUXP
  6. 6. Rank Score (out of 148) (1–7) GDP (PPP) per capita (int’l $), 1990–2012 Percent of responses Note: From the list of factors above, respondents were asked to select the five most problematic for doing business in their country and to rank them between 1 (most problematic) and 5. The bars in the figure show the responses weighted according to their rankings. 2.1: Country/Economy Profiles 210 | The Global Competitiveness Report 2013–2014 Key indicators, 2012 Population (millions).......................................... 7.1 GDP (US$ billions) ........................................ 263.0 GDP per capita (US$)................................. 36,667 GDP (PPP) as share (%) of world total............ 0.44 Global Competitiveness Index GCI 2013–2014........................................................7..... 5.5 GCI 2012–2013 (out of 144)....................................... 9......5.4 GCI 2011–2012 (out of 142)..................................... 11......5.4 Basic requirements (20.0%).........................................2 ......6.2 Institutions.................................................................. 9......5.6 Infrastructure .............................................................. 1......6.7 Macroeconomic environment ................................... 12......6.1 Health and primary education................................... 31......6.2 Efficiency enhancers (50.0%).......................................3 ......5.6 Higher education and training................................... 22......5.2 Goods market efficiency ............................................ 2......5.6 Labor market efficiency .............................................. 3......5.7 Financial market development .................................... 1......6.0 Technological readiness.............................................. 6......6.0 Market size............................................................... 27......4.8 Innovation and sophistication factors (30.0%)...........19 ......4.8 Business sophistication ........................................... 14......5.2 Innovation................................................................. 23......4.4 The most problematic factors for doing business Insufficient capacity to innovate.........................................18.4 Inefficient government bureaucracy ...................................13.9 Inflation..............................................................................13.8 Policy instability .................................................................11.0 Inadequately educated workforce......................................10.2 Restrictive labor regulations.................................................9.2 Poor work ethic in national labor force ................................5.5 Inadequate supply of infrastructure......................................4.1 Access to financing .............................................................2.8 Poor public health ...............................................................2.7 Tax rates..............................................................................2.5 Corruption ...........................................................................2.0 Government instability/coups ..............................................1.7 Foreign currency regulations................................................1.3 Crime and theft ...................................................................0.7 Tax regulations ....................................................................0.1 Hong Kong SAR Stage of development Factor driven Efficiency driven Innovation driven 1 Transition 1–2 2 Transition 2–3 3 Hong Kong SAR Innovation-driven economies 0 5 10 15 20 25 30 10,000 20,000 30,000 40,000 50,000 60,000 1990 1992 19961994 1998 2000 2002 20062004 20102008 2012 Institutions Infrastructure Macroeconomic environment Health and primary education Higher education and training Goods market efficiency Labor market efficiency Financial market development Technological readiness Market size Business sophistication Innovation 1 2 3 4 5 6 7 Hong Kong SAR Advanced economies ‹ :RUOG (FRQRPLF )RUXP Innovation Business sophistication Market size .19 ......4.8 .7. 9. 11......5 Insufficient capacity to innovate.........................................18.4
  7. 7. Notes: Values are on a 1-to-7 scale unless otherwise annotated with an asterisk (*). For further details and explanation, please refer to the section “How to Read the Country/Economy Profiles” on page 97. The Global Competitiveness Index in detail The Global Competitiveness Report 2013–2014 | 211 2.1: Country/Economy Profiles INDICATOR VALUE RANK/148 6th pillar: Goods market efficiency (cont’d.) 6.06 No. procedures to start a business*.......................... 3............10 6.07 No. days to start a business* .................................... 3..............5 6.08 Agricultural policy costs.......................................... 4.5............19 6.09 Prevalence of trade barriers ................................... 5.8..............1 6.10 Trade tariffs, % duty*.............................................. 0.0..............1 6.11 Prevalence of foreign ownership............................. 6.1..............2 6.12 Business impact of rules on FDI............................. 6.1..............3 6.13 Burden of customs procedures.............................. 6.1..............3 6.14 Imports as a percentage of GDP* ...................... 232.5..............1 6.15 Degree of customer orientation.............................. 5.6............10 6.16 Buyer sophistication............................................... 4.8..............5 7th pillar: Labor market efficiency 7.01 Cooperation in labor-employer relations ................. 5.6..............8 7.02 Flexibility of wage determination............................. 6.0..............4 7.03 Hiring and firing practices....................................... 5.8..............1 7.04 Redundancy costs, weeks of salary*...................... 5.9............17 7.05 Effect of taxation on incentives to work.................. 6.0..............5 7.06 Pay and productivity............................................... 5.5..............1 7.07 Reliance on professional management................... 5.2............28 7.08 Country capacity to retain talent............................. 5.4..............7 7.09 Country capacity to attract talent ........................... 5.7..............5 7.10 Women in labor force, ratio to men*..................... 0.76............85 8th pillar: Financial market development 8.01 Availability of financial services ............................... 6.3..............3 8.02 Affordability of financial services ............................. 6.1..............1 8.03 Financing through local equity market.................... 5.8..............1 8.04 Ease of access to loans ......................................... 4.7..............2 8.05 Venture capital availability....................................... 4.6..............1 8.06 Soundness of banks .............................................. 6.6..............4 8.07 Regulation of securities exchanges ........................ 6.0..............4 8.08 Legal rights index, 0–10 (best)* ............................... 10..............1 9th pillar: Technological readiness 9.01 Availability of latest technologies ............................ 6.3............11 9.02 Firm-level technology absorption............................ 5.9............12 9.03 FDI and technology transfer ................................... 5.3............12 9.04 Individuals using Internet, %* ............................... 72.8............33 9.05 Fixed broadband Internet subscriptions/100 pop.* . 31.6............15 9.06 Int’l Internet bandwidth, kb/s per user* ........... 1,239.8..............2 9.07 Mobile broadband subscriptions/100 pop.*.......... 73.5............10 10th pillar: Market size 10.01 Domestic market size index, 1–7 (best)*................. 4.4............35 10.02 Foreign market size index, 1–7 (best)*.................... 6.2..............6 10.03 GDP (PPP$ billions)* .......................................... 369.4............35 10.04 Exports as a percentage of GDP* ...................... 235.5..............1 11th pillar: Business sophistication 11.01 Local supplier quantity ........................................... 5.5..............7 11.02 Local supplier quality.............................................. 5.5............13 11.03 State of cluster development.................................. 5.1............11 11.04 Nature of competitive advantage............................ 5.4............18 11.05 Value chain breadth................................................ 5.2............11 11.06 Control of international distribution......................... 5.0............13 11.07 Production process sophistication.......................... 5.1............25 11.08 Extent of marketing................................................ 5.6............10 11.09 Willingness to delegate authority............................ 4.6............22 12th pillar: Innovation 12.01 Capacity for innovation........................................... 4.2............29 12.02 Quality of scientific research institutions ................. 4.9............31 12.03 Company spending on RD................................... 4.0............25 12.04 University-industry collaboration in RD ................. 4.9............21 12.05 Gov’t procurement of advanced tech products...... 4.2............19 12.06 Availability of scientists and engineers.................... 4.6............32 12.07 PCT patents, applications/million pop.*.................. n/a...........n/a INDICATOR VALUE RANK/148 1st pillar: Institutions 1.01 Property rights ....................................................... 6.1..............5 1.02 Intellectual property protection ............................... 5.7............10 1.03 Diversion of public funds........................................ 5.8............11 1.04 Public trust in politicians......................................... 4.4............17 1.05 Irregular payments and bribes................................ 6.1............13 1.06 Judicial independence............................................ 6.3..............4 1.07 Favoritism in decisions of government officials ....... 4.1............24 1.08 Wastefulness of government spending................... 4.6............12 1.09 Burden of government regulation ........................... 4.9..............5 1.10 Efficiency of legal framework in settling disputes.... 5.8..............3 1.11 Efficiency of legal framework in challenging regs. ... 5.6..............2 1.12 Transparency of government policymaking............. 5.9..............3 1.13 Business costs of terrorism.................................... 5.7............63 1.14 Business costs of crime and violence..................... 5.7............22 1.15 Organized crime..................................................... 5.8............37 1.16 Reliability of police services.................................... 6.3..............4 1.17 Ethical behavior of firms ......................................... 5.6............16 1.18 Strength of auditing and reporting standards ......... 6.1..............6 1.19 Efficacy of corporate boards .................................. 5.3............17 1.20 Protection of minority shareholders’ interests ......... 5.7..............7 1.21 Strength of investor protection, 0–10 (best)* .......... 9.0..............3 2nd pillar: Infrastructure 2.01 Quality of overall infrastructure ............................... 6.5..............2 2.02 Quality of roads...................................................... 6.2..............5 2.03 Quality of railroad infrastructure.............................. 6.5..............3 2.04 Quality of port infrastructure................................... 6.6..............3 2.05 Quality of air transport infrastructure....................... 6.7..............2 2.06 Available airline seat km/week, millions* .......... 2,371.9............17 2.07 Quality of electricity supply..................................... 6.8..............1 2.08 Mobile telephone subscriptions/100 pop.* ......... 227.9..............1 2.09 Fixed telephone lines/100 pop.*........................... 60.6..............5 3rd pillar: Macroeconomic environment 3.01 Government budget balance, % GDP*................... 0.2............26 3.02 Gross national savings, % GDP* .......................... 27.5............35 3.03 Inflation, annual % change*.................................... 4.1............75 3.04 General government debt, % GDP* ..................... 32.4............42 3.05 Country credit rating, 0–100 (best)*...................... 87.2............14 4th pillar: Health and primary education 4.01 Business impact of malaria ............................. N/Appl...............1 4.02 Malaria cases/100,000 pop.* ................................(NE)..............1 4.03 Business impact of tuberculosis............................. 5.9............55 4.04 Tuberculosis cases/100,000 pop.* ....................... 78.0............88 4.05 Business impact of HIV/AIDS................................. 5.6............66 4.06 HIV prevalence, % adult pop.* ............................. 0.00..............1 4.07 Infant mortality, deaths/1,000 live births*................ 1.4..............1 4.08 Life expectancy, years*......................................... 83.4..............1 4.09 Quality of primary education................................... 4.9............30 4.10 Primary education enrollment, net %* .................. 92.3............89 5th pillar: Higher education and training 5.01 Secondary education enrollment, gross %*.......... 80.1............93 5.02 Tertiary education enrollment, gross %*................ 60.4............34 5.03 Quality of the educational system........................... 4.8............22 5.04 Quality of math and science education .................. 5.5............10 5.05 Quality of management schools ............................. 5.4............14 5.06 Internet access in schools...................................... 6.1............14 5.07 Availability of research and training services ........... 5.8..............7 5.08 Extent of staff training ............................................ 4.7............21 6th pillar: Goods market efficiency 6.01 Intensity of local competition.................................. 5.9..............7 6.02 Extent of market dominance .................................. 4.3............34 6.03 Effectiveness of anti-monopoly policy..................... 4.5............42 6.04 Effect of taxation on incentives to invest................. 5.6..............6 6.05 Total tax rate, % profits*....................................... 23.0............17 Hong Kong SAR ‹ :RUOG (FRQRPLF )RUXP 12th pillar: Innovation 12.01 Capacity for innovation........................................... 4.2............29 12.02 Quality of scientific research institutions ................. 4.9............31 12.03 Company spending on RD................................... 4.0............25 12.04 University-industry collaboration in RD ................. 4.9............21 12.05 Gov’t procurement of advanced tech products...... 4.2............19 12.06 Availability of scientists and engineers.................... 4.6............32 12.07 PCT patents, applications/million pop.*.................. n/a...........n/a

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