‘Fall in Global Smart City Ranking for Hong Kong’

Hong Kong has been ranked 20th in a global list of smart cities, according to the 2024 Smart City Index compiled by the Swiss business school International Institute for Management Development in partnership with the World Smart Sustainable Cities Organisation. This ranking is one spot down from last year, with cities like Beijing and Shanghai ranking ahead of Hong Kong.

The report evaluates 142 cities based on a combination of hard data and survey responses regarding how technology is enhancing the quality of life for citizens. Key areas covered in the evaluation include health and safety, mobility, activities, opportunities, and governance. Singapore emerged as the top-ranking city in Asia and secured the fifth position globally.

Zurich retained its position as the world’s smartest city, followed by Oslo, Canberra, and Geneva. Other Asian cities in the top 20 list include Beijing, Taipei, Seoul, and Shanghai.

Hong Kong was recognized for its satisfactory recycling services, basic sanitation, public transport, and public safety. However, survey respondents expressed concerns about affordable housing, health services, and employment opportunities.

The report highlighted the dominance of Asian and European cities in the top rankings, with cities like Singapore, Abu Dhabi, and Seoul consistently performing well since the inception of the index in 2019.

In a related development, Singapore’s state-investment firm Temasek announced plans to increase investments in Europe, with projected net investments of up to S billion over the next five years. Nagi Hamiyeh, head of Europe, the Middle East, and Africa at Temasek, is seeking partnerships with companies tied to wealthy business families.

On a different note, a report by credit reporting agency TransUnion revealed that the rate of suspicious digital fraud on transactions originating from Hong Kong was higher than the global average in 2023. Approximately 6.6 percent of digital transactions from Hong Kong were suspected to be fraudulent, compared to the global average of 5 percent.