Hong Kong’s competitiveness is slipping, according to United Nations survey

Hong Kong has a reputation of being one of the easiest, safest places to live — but this year sees our city growing less competitive in comparison to other global cities, according to a United Nations-Habitat survey conducted in collaboration with Chinese think tank Chinese Academy of Social Sciences (CASS). Hong Kong slipped from its number six ranking in 2013 to 2014 to number 12, with Shenzhen rising to take its spot. The reason for the fall? Unsurprisingly, it’s the city’s record-high property prices.

New York topped the list, while other Asian cities Singapore and Tokyo also appeared in the top 10. Interestingly, half of the top 10 most competitive cities are in the United States.

Here’s the list of the top 12 cities:

1. New York
2. Los Angeles
3. Singapore
4. London
5. San Francisco
6. Shenzhen
7. Tokyo
8. San Jose
9. Munich
10. Dallas
11. Houston
12. Hong Kong