Hong Kong has maintained a narrow lead over Singapore in this year’s Asian Cities of the Future competition. The former UK crown colony demonstrated high levels of FDI, strong economic potential, falling unemployment and a high standard of living.
However, its rival, the island nation of Singapore, is fast catching up and this year’s study shows just how far the gap has narrowed: Hong Kong scored a total of 261.89 points while Singapore scored 260.97, representing a lead of just one third of a percentage point.
The ranking shows Singapore ahead of Hong Kong for human resources, infrastructure, international investment promotion and overall business friendliness. Lawrence Yeo, CEO of Singapore-based international consultancy firm AsiaBIZ Strategy and one of fDi magazine’s Locations of the Future judges, says: “I think Hong Kong’s lead this year is justified. However, the point is that the lead gap has narrowed tremendously. Singapore might just win in the next series if Hong Kong does not improve by then.”
Of Asia’s major cities, Tokyo scores top for infrastructure, while Melbourne comes out top for quality of life. Alor Star, the state capital of Kedah in Malaysia, is fDi’s Small Asian City of the Future, scoring well across several categories, including economic potential, cost effectiveness and business friendliness.
fDi’s Locations of the Future competition covers each region once every two years. The next Asian Cities of the Future rankings will be published in 2009.
During the spring and summer of 2007, fDi magazine invited key cities across Asia to answer more than 60 questions in the seven broad categories listed below. fDi’s judges scored each of the 38 cities that responded according the criteria listed (below).
Cities scored up to 10 points for each criterion. The winners in each category are the cities that scored the most points in that category and the overall winner is the city that scored the most points across all seven categories.
Cities were scored by members of fDi’s editorial team and by independent guest judges.
Click on the link below for a PDF version of the complete results:
Download other Asian Cities of the Future results here:
Asia-Pacific Cities of the Future 2013/14
To register your interest in the next ranking, fDi Asia-Pacific Cities of the Future 2013/14 please contact Gráinne.Byrne@ft.com.