Country explorer: Hong Kong
EXPERIMENTAL
2024
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Overview
Hong Kong is a urban, high-income country in East Asia with a small population. Its economy has grown stably in recent decades, and is based on finance, trading and tourism.
Hong Kong has one of the world's highest concentrations of skyscrapers.
Economy
Hong Kong has demonstrated resilience and growth in its economy, maintaining high GDP per capita levels and low unemployment rates compared to its peers, despite experiencing fluctuations in inflation and facing significant societal changes.
Demographics
Hong Kong has witnessed a modest population growth, a notable decrease in net migration, persistently low fertility rates well below replacement level, and a significant increase in life expectancy, mirroring trends seen in other high-income Asian territories but contrasting with its higher fertility rates and net migration figures.
Basic needs
Hong Kong has achieved universal access to electricity and safely managed drinking water, alongside significant improvements in safely managed sanitation facilities, mirroring advancements common among high-income territories but with a distinctive rapid enhancement in sanitation accessibility compared to its peers.
Human development
Hong Kong has demonstrated significant progress in human development, as indicated by improvements in its Human Development Index, a stable high literacy rate, and an increase in learning-adjusted years of schooling, illustrating advancements comparable to other high-income countries, particularly in education and living standards.
Environment & energy
Hong Kong has seen a considerable shift towards cleaner energy sources, with an increased production of electricity from natural gas and a modest uptick in renewable sources, reflecting a common trend among high-income countries towards cleaner and more sustainable energy solutions.
Technology & innovation
Hong Kong has significantly enhanced its digital connectivity, evidenced by a substantial increase in internet penetration and mobile subscriptions per capita, although its investment in research and development lags behind leading innovators like South Korea, aligning it more closely with its high-income peers.
Culture & society
Hong Kong has experienced a notable transformation marked by an incrementally aging population coupled with stable but relatively high life satisfaction scores, all amid an exceptionally high share of the population born abroad, distinguishing it from many of its high-income country peers and reflecting its unique position as a vibrant, cosmopolitan hub within Asia.
Governance
Hong Kong has experienced a significant decline in its rule of law, political civil liberties, and press freedom, marking a distinct shift away from the high governance standards observed in its high-income peers and closer to the restrictive environments seen in some regional counterparts.