Media OutReach

Hong Kong rises to World’s No.3 most competitive economy

Published

6 months ago

19/06/2025

HONG KONG SAR – Media OutReach Newswire – 19 June 2025 – Hong Kong has moved up two places to rank as the world’s third most competitive economy, marking the second successive year that the city has jumped two places in the global rankings to reach its highest position since 2019.

The World Competitiveness Yearbook 2025 (WCY 2025), published (June 17) by the Swiss-based International Institute for Management Development (IMD), assessed 69 economies around the world. Hong Kong made gains in all the factors of competitiveness: “Government efficiency” (second), “Business efficiency” (second) “Economic performance” (sixth), and “Infrastructure” (seventh). The IMD remarked that the gains across all four factors of competitiveness reflect a broad-based approach of Hong Kong to attracting private sector investment.

“The World Competitiveness Yearbook shows that Hong Kong’s scores in overall terms and in many areas have improved, indicating that the Hong Kong Special Administrative Region (HKSAR) Government’s policy directions are on the right course and that various policies have yielded results,” said the HKSAR’s Chief Executive John Lee.

Hong Kong has ranked among the top 10 in the world for over 20 consecutive years, since the WCY 2003.

Hong Kong rises to World’s No.3 most competitive economy

Mr Lee said the ranking also “affirms Hong Kong’s world-class business environment, reflecting business leaders’ positive views on its competitiveness and strengths, including the rule of law, independent exercise of judicial power, a simple tax regime with low tax rates, an efficient and transparent market, a robust financial system, and a facilitating environment aligned with international best practices, as well as free flow of capital, information, goods and talent, which are affirmed by the business community.”

Despite the current uncertain global economic landscape and geopolitical turmoil, Hong Kong recorded solid year-on-year GDP growth of 3.1% in the first quarter of 2025, with full year GDP growth expected to be 2% to 3%.

Totally, 145,053 local companies were newly registered under the Companies Ordinance last year, bringing the overall number of local companies registered to a record high of 1,460,494, at end-2024. Meanwhile, 1,079 newly established non-Hong Kong companies were registered, bringing that overall total to an all-time high of 15,126.

“Under the unique advantages of ‘one country, two systems’, Hong Kong enjoys both the China advantage and the global advantage. We will continue to leverage Hong Kong’s role as a ‘super-connector’ and ‘super value-adder’, strengthen international exchanges and co-operation, expand and deepen regional trade, explore new markets, with a view to building a vibrant economy, striving for development and improving people’s livelihoods on all fronts,” Mr Lee said.

To attract more non-Hong Kong incorporated companies to re-domicile to Hong Kong, the Government launched a new company re-domiciliation regime legislation last month, providing a simple and accessible mechanism for re-domiciliation to Hong Kong.

Already, two insurance companies, AXA Hong Kong and Macau (AXA China Region Insurance Company (Bermuda) Limited) and Manulife (International) Limited have announced plans to re-domicile to Hong Kong under the new regime, subject to regulatory approvals.

Hong Kong is actively driving reforms to strengthen and enhance its position as an international financial, trade, and shipping centre, trawling for businesses and talents. The Office for Attracting Strategic Enterprises has attracted over 80 strategic enterprises to establish offices in Hong Kong, bringing about HK$50 billion total investments in the years to come, and creating over 20,000 jobs.

Among the sub-factors in the WCY 2025, Hong Kong came top for “Tax policy” and “Business legislation” and second for “Education”, “International investment” and “Finance”.

Ranked as a top three global financial centre, Hong Kong’s stock exchange is a key barometer of financial market performance. By May 30, 2025, stock market capitalisation had increased by 24% year-on-year to over US$5.2 trillion.

Notably, the Hong Kong Stock Exchange has seen a surge in initial public offerings (IPOs), with total IPO funds raised reaching nearly HK$79 billion (US$10.12 billion) so far this year, making it the leader among major global exchanges.

*Hong Kong is one of the world’s top three ranked global financial centres*

Hashtag: #hongkong #brandhongkong #asiasworldcity #excellenthk #IMD #WorldCompetitiveness2025

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The issuer is solely responsible for the content of this announcement.

Media OutReach

SIM Graduates Demonstrate Strong Employment Outcomes in High-Demand Sectors

Published

6 hours ago

21/12/2025

Media Outreach

SINGAPORE – Media OutReach Newswire – 21 December 2025 – As Singapore’s economy continues to evolve and sectors undergo rapid transformation, the need for adaptable, industry-ready talent remains paramount. The Singapore Institute of Management (SIM), one of the nation’s leading private education institutions, continues to play a significant role in equipping graduates with the competencies required to excel in a competitive labour market.

Findings from the SkillsFuture Singapore (SSG) Private Education Institution (PEI) Graduate Employment Survey 2023/2024 provide valuable insights into the employment landscape for PEI graduates. The survey reported that 74.8% of PEI graduates in the labour force secured employment within six months of graduation. Of this group, 46.4% attained full-time permanent roles, while others engaged in part-time, temporary or freelance employment.

Although overall employment rates reflect a slight softening in the job market, the median gross monthly salary for full-time permanent employment increased to S$3,500, signalling continued demand for qualified talent. Graduates in Information and Digital Technologies achieved the highest median salary at S$4,080, underscoring the strong market appetite for digital and technological skillsets, areas in which SIM’s IT and Computer Science programmes are well aligned.

SIM’s Business graduates also continue to perform competitively across the finance, technology and consulting sectors, leveraging analytical proficiency and global perspectives to contribute to multinational corporations and high-growth enterprises. In parallel, Arts and Social Sciences graduates are building meaningful careers in communications, media and the public service, where creativity, problem-solving and community engagement remain critical.

Graduate Success Pathways

The survey findings are reinforced by the varied experiences of SIM graduates who have progressed into competitive roles across multiple industries. Their journeys demonstrate how diverse learner profiles can achieve successful outcomes when supported by accessible pathways and industry-relevant learning.

Many SIM graduates enter programmes with different educational starting points — from polytechnic diplomas to mid-career transitions — and go on to advance through learning designed to strengthen both academic foundations and practical skills. Graduates have leveraged internationally recognised qualifications offered at SIM to secure positions in multinational organisations, high-growth technology firms, financial institutions, and public service agencies. Others pursue postgraduate education at reputable universities worldwide, building on their undergraduate success.

Students benefit from exposure to real-world environments through internships, applied industry projects and student leadership opportunities, which help build capabilities valued by employers. These experiences contribute to stronger career readiness and more resilient employability outcomes, supporting transitions into fast-moving sectors that are central to Singapore’s economic priorities.

Collectively, these pathways reflect SIM’s ongoing role in enabling talent progression — supporting students in unlocking new opportunities, whether beginning their careers, switching industries or enhancing their professional expertise.

SIM’s Contribution to Workforce Development

The survey findings underline the important contribution of private education pathways within Singapore’s broader talent ecosystem. While autonomous universities continue to report higher employment rates and salary outcomes, SIM remains a key provider of industry-relevant programmes that complement national skills priorities, serving a wide spectrum of learners and supporting their career advancement goals.

The upward salary trend among full-time permanent roles, together with strong performance in technology and business fields, indicates that SIM graduates are well-positioned to participate in sectors driving Singapore’s continued growth.

References:

Close To 3 in 4 Private Education Institution Graduates in Employment Within 6 Months After Graduation Amidst Overall Lower Hiring Demand – https://www.ssg.gov.sg/newsroom/close-to-3-in-4-private-education-institution-graduates-in-employment-within-6-months-after-graduation-amidst-overall-lower-hiring-demand/
From Undergrad to Postgrad: Paving the Way to the C-Suite – https://www.sim.edu.sg/articles-inspirations/from-undergrad-to-postgrad-paving-the-way-to-the-c-suite
How this graduate pivoted her career by pursuing a degree while working full time – https://www.sim.edu.sg/articles-inspirations/how-this-graduate-pivoted-her-career-by-pursuing-a-degree-while-working-full-time
How 6 internships, 4 hackathons, and CCAs paved the way for Ashley – https://www.sim.edu.sg/articles-inspirations/how-6-internships-4-hackathons-and-ccas-paved-the-way-for-ashley
The Power of a Second Chance – https://www.sim.edu.sg/articles-inspirations/the-power-of-a-second-chance

Hashtag: #SIMGlobalEducation #SIMGE #GlobalEducation #InternationalDegree #CareerReady #FutureSkills

The issuer is solely responsible for the content of this announcement.

About SIM Global Education

SIM Global Education (SIM GE) is a leading private education institution in Singapore and the region. We offer more than 140 academic programmes ranging from diplomas and graduate diploma programmes to bachelor’s and master’s degree programmes with some of the world’s most reputable universities from Australia, Canada, Europe, United Kingdom, and the United States. SIM GE’s cohort is made up of 16,000 full- and part-time students and adult learners, of which approximately 36% are international students hailing from over 50 countries.

SIM GE’s holistic learning approach and culturally diverse learning environment aim to equip students with knowledge, industry skills and employability competencies, as well as a global perspective to succeed as future leaders in a fast-changing, technologically driven world.

For more information on SIM Global Education, visit sim.edu.sg

Media OutReach

SIM Career Fairs: Connecting Talent with Top Employers

Published

23 hours ago

20/12/2025

Media Outreach

SINGAPORE – Media OutReach Newswire – 20 December 2025 – The Singapore Institute of Management (SIM) reinforces its commitment to student success through flagship career fairs that connect graduates with leading employers across diverse industries. These initiatives form part of SIM’s comprehensive employability ecosystem, Career Connect, which integrates coaching, mentorship, internships, and high-visibility recruitment events. Supported by the CareerSense app, students enjoy centralized access to job listings and event registrations, ensuring a seamless career planning experience.

Two Opportunities to Engage Annually

SIM organizes two major career fairs each year, strategically aligned with industry hiring cycles. This biannual format provides flexibility for students seeking internships during their studies or full-time positions upon graduation.

DREAMS Career Fair – Flagship Event

DREAMS is SIM’s premier career fair, featuring over 100 leading companies from sectors such as finance, technology, logistics, and consulting. Participating employers include Big Four accounting firms, major banks, and multinational corporations. The event offers extensive networking opportunities, interactive employer booths, and on-the-spot interviews for internships and graduate roles. This serves as a powerful launchpad for students to secure meaningful career opportunities.

IGNITE Career & Internship Fair – Industry-Specific Networking

IGNITE is SIM’s targeted networking event focused on sectors such as accounting, banking, technology, and logistics. Unlike large-scale fairs, IGNITE facilitates smaller, more personalized interactions with recruiters, enabling students to engage in substantive conversations and build deeper connections. The event includes company talks offering insider insights into niche roles and career pathways, complemented by mentorship and personalized guidance.

From Campus to Corporate

Students at SIM leverage career fairs and employer engagement events to build clearer pathways into the workforce. Many approach these opportunities by researching participating organisations, strengthening their resumes and practising how to communicate their strengths effectively, steps that help them gain direct exposure to recruiters and better understand evolving industry expectations.

While early interaction at career fairs may not immediately result in internships or job offers, they have provided meaningful insights and networking opportunities that later contribute to successful applications. Through repeated engagement and improved preparation, students have been able to secure internships and full-time roles at major firms across different sectors.

These outcomes reflect how structured career development activities at SIM support students in strengthening both their technical and interpersonal competencies, expanding their professional networks and transitioning more confidently into competitive industries.

Beyond Recruitment: A Holistic Employability Ecosystem

SIM’s Career Connect integrates career fairs with sustained employability programming, skills workshops, mentorship initiatives such as Project Protégé, and internship matching via the CareerSense app. This holistic approach ensures students have repeated engagement with employers throughout the year and supports recognition through awards like the SIM EDGE awards, which celebrates the well-rounded development of students.

More than recruitment channels, these fairs exemplify SIM’s commitment to bridging talent, industry needs and employment opportunity. External coverage of DREAMS and IGNITE further validates SIM’s commitment in equipping graduates to thrive in an evolving job market.

References:

SIM Career Services Career Connect Overview – https://www.sim.edu.sg/degrees-diplomas/life-at-sim/career-services
How I Landed A Full-Time Job Before Graduating – https://www.sim.edu.sg/articles-inspirations/how-i-landed-a-full-time-job-before-graduating
External Coverage – DREAMS Career Fair @ SIM (CYS Global Remit) – https://www.cys.com.sg/post/dreams-career-fair-sim-unlocking-opportunities
IGNITE Career & Internship Fair – SCDF Career Outreach Listing – https://www.scdf.gov.sg/join-us/career-outreach-activities/2024/09/20/career-outreach-activities/sim-career—internship-fair—ignite-2024

Hashtag: #SIMGlobalEducation #SIMGE #GlobalEducation #InternationalDegree #CareerReady #FutureSkills

https://www.sim.edu.sg/

The issuer is solely responsible for the content of this announcement.

About SIM Global Education

For more information on SIM Global Education, visit sim.edu.sg

Media OutReach

SIM Introduces CareerSense, an AI-Based Career Guidance Platform for Students

Published

1 day ago

20/12/2025

Media Outreach

SINGAPORE – Media OutReach Newswire – 20 December 2025 – Singapore Institute of Management (SIM) introduces CareerSense, an AI-powered career guidance application designed to transform how students plan, prepare, and pursue their careers. This initiative reinforces SIM’s commitment to preparing learners for the future of work in an era where technology is reshaping industries and job roles at unprecedented speed.

CareerSense Matters in Today’s Job Market

The global workforce is evolving rapidly. Automation, digitalisation, and emerging technologies are creating new opportunities while presenting new challenges. Navigating this landscape requires more than academic credentials; it demands self-awareness, adaptability, and strategic planning.

CareerSense addresses these needs by combining artificial intelligence with career development expertise, offering a personalised, data-driven approach to job readiness. It functions as a comprehensive career coach, accessible anytime and anywhere.

Key Features That Set CareerSense Apart

CareerSense offers a comprehensive suite of features designed to empower students throughout their career journey. Its AI-driven VIPS profiling evaluates Values, Interests, Personality, and Skills to deliver personalised career recommendations aligned with individual strengths and aspirations. The smart resume builder provides real-time scoring and improvement tips, while the job-matching algorithm connects students to roles that fit their unique profiles. Through integrated access, students can RSVP for events, schedule advisory sessions, and apply for internships and job listings seamlessly. Additionally, the Employability Index measures job readiness and works alongside skill gap analysis and tailored course recommendations to help students stay competitive in today’s dynamic job market.

The Bigger Picture: Empowering Future-Ready Graduates

The future of work is shaped by constant change, technological disruption, and global connectivity. Employers seek individuals who are adaptable, self-aware, and equipped with relevant skills. CareerSense empowers students to take ownership of their career journey, understand their strengths, identify gaps, and build competencies that matter in the real world.

This initiative reflects SIM’s commitment to lifelong learning and employability, ensuring graduates are not only job-ready but future-ready. In a competitive market, CareerSense positions SIM learners as confident, agile professionals prepared to lead in the digital economy.

References: